Georgia Cracks Down on Gambling Boom: Taxes to Go Up in 2024
Kate Marshal
09 November 2023
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Pictured: the Prime Minister of Georgia Irakli Garibashvili
Georgia is planning to raise taxes on gambling from 2024, according to the country’s Prime Minister Irakli Garibashvili.
The changes will affect both gambling companies and their customers: for companies, tax deductions will go up from 10 to 15%, and for players, from 2 to 5% (when cashing out).
Garibashvili said the move was aimed at curbing the explosive growth of gambling in the country. He noted that previous measures to tighten the grip on the industry last year did not work: the industry’s turnover hit a record 52 billion GEL ($19.2bn).
The Prime Minister expressed his shock at this trend: “I want to express surprise, on the one hand, on the other hand, it is very sad that the turnover of the gaming business is increasing”.
But the new taxes might not stop the gambling craze either. Some experts warn that they could drive gamblers to the illegal gambling market. According to statistics, 20% of the adult population of Georgia has a gambling problem.
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