EGR has partnered with 4H Agency to bring its readers a series of long-form articles on the requirements and key facts and figures for a host of markets throughout the world.
Tapping into 4H’s talent pool of experts, the articles will outline the regulatory framework and entry requirements for interested parties, as well as an insider’s view on how the market could shape up in the coming years.
Here, the series continues with Bulgaria, with commentary from 4H partner and head of consulting department, Ivan Kurochkin.
Market overview
Gambling in Bulgaria has evolved from a total ban during the socialist era to a modern, regulated market. The first casinos were legalised in 1993, and by the late 1990s, the country established a unified legal framework for gambling. In 2008, the State Commission on Gambling was created, followed by the 2012 Gambling Act, which expanded regulation to online operations. Since 2020, oversight has been handled by the National Revenue Agency, strengthening compliance and anti-money laundering controls.
Today, Bulgaria operates a regulated market covering online casinos, sports betting and land-based venues, while lotteries remain a state monopoly. With low taxes and an accessible licensing regime, it is one of the most open markets in the EU. However, a 2025 proposal to introduce a full state monopoly remains under discussion, and the current licensing system is still in place.
Regulations
The Bulgarian National Revenue Agency (NRA) issues the following licence types:
- Online casino and slots.
- Online sports betting.
- B2B manufacturer– for entities that develop, assemble, program or modify gaming equipment and hold IP rights over hardware or software.
- B2B distributor– for entities that import and distribute gaming equipment.
- Land-based– covering casinos, slot machine halls and sports betting shops.
Licences may be granted to limited liability or joint-stock companies registered in Bulgaria, the EU, EEA or Switzerland. B2B licences may also be issued to sole proprietors, and lottery activities can be operated by non-profit organisations.
Applicants must meet key eligibility criteria, including:
- No gambling-related administrative sanctions in the past five years.
- Ownership of technical infrastructure located within Bulgaria, the EU, EEA or Switzerland.
- Use of a bank account in a licensed institution operating in Bulgaria.
- Appointment of an authorised representative in Bulgaria (for foreign companies).
- Certification and registration of systems, equipment and software by an approved lab.
Operators are required to implement player protection measures:
- Display responsible gambling messaging and support resources on their websites.
- Provide information about self-exclusion and maintain controls to prevent access by vulnerable individuals, including minors, persons under guardianship and those receiving social assistance.
- Set limits on session duration, losses and stakes, with stricter controls for players under 24 years of age.
- Prevent participation from individuals at high risk due to social or financial conditions.
- Report high-value winnings exceeding ~$3,000.
Website requirements include full company and licence details, game rules, bet and payout structures, support contact info and complaint procedures.
Gaming software must be certified and registered with the Bulgarian Institute of Metrology (BIM), whether submitted by the operator or the B2B provider. Only certified B2B companies may supply hardware or software.
Licence cost and term
Online casino and slots:
- Licence duration: five years (extendable to 10 years if investments exceed ~$1.1m).
- Minimum paid-up capital: ~$890,000.
- Minimum investment: ~$560,000.
- Financial guarantee: ~$560,000 (in cash, bank account, or bank guarantee).
- One-time licence fee: ~$240,000
- Annual responsible gambling contribution: ~$35,000.
Online sports betting:
- Licence duration: five years (extendable to 10 years if investments exceed ~$5.9m).
- Minimum investment: ~$560,000.
- Financial guarantee: ~$560,000 (in cash, bank account, or bank guarantee).
- One-time licence fee: ~$240,000
- Annual responsible gambling contribution: ~$5,900.
Land-based casinos:
- Licence duration: five years (10 years if total investment exceeds ~$1.7m).
- Minimum paid-up capital: ~$890,000.
- Minimum investment: ~$560,000.
- Financial guarantee: ~$350,000.
- Licence fees: ~$178,000 for five years or ~$350,000 for 10 years.
- Operational requirements: at least five gaming tables (including two roulette tables) and 15 gaming machines, located within authorised zones.
- Annual responsible gambling contribution: ~$11,800.
Slot machine venues:
- Licence duration: five years (10 years if total investment exceeds ~$560,000).
- Minimum paid-up capital: ~$445,000.
- Minimum investment: ~$148,000.
- Financial guarantee: ~$118,000.
- Licence fees (based on population and term): five-year licence: ~$44,500 or ~$90,000, 10-year licence: ~$90,000 or ~$180,000.
- Annual responsible gambling contribution: ~$6,000.
Land-based sports betting shop:
- Licence duration: five years (10 years if investment exceeds ~$5.9m).
- Minimum investment: ~$1,4m.
- Financial guarantee: ~$560,000.
- Licence fee: ~$178,000.
- Annual responsible gambling contribution: ~$6,000.
B2B:
- License duration: five years (extendable to 10 years if investments exceed ~$240,000).
- Minimum investment: ~$350,000 for production or distribution of gaming equipment.
- Operational funds: ~$118,000 for import and servicing.
Taxation
Gambling taxation:
- For online casinos and slots, online and land-based sports betting: 20% GGR.
- For land-based slot machines: ~$475 per quarter per slot machine.
- For roulette tables in land-based casinos: ~$13,000 per quarter.
- For other land-based casino gaming equipment: ~$3,000 per quarter.
General taxation:
- 10% corporate tax.
- 9-20% VAT.
- 10% withholding tax.
Responsible gambling and AML
Responsible gambling requirements:
- Self-exclusion: Players with gambling problems or at risk due to social or financial reasons may request self-exclusion from gambling, except for state-organised games for public benefit. NRA manages the self-exclusion register. The minimum exclusion period is 12 months, and the NRA may add individuals receiving social aid, under guardianship or with mental disorders.
- Limits and messaging: Operators must introduce measures to prevent excessive gambling, such as betting limits, loss caps and time restrictions – stricter for players under 24 years of age. Operators must also display addiction warnings and counselling information in all venues and on websites and deny entry to minors and self-excluded persons.
- Advertising and location rules: Gambling ads are allowed on sports venues and equipment, except those for minors. Media must not present gambling as easy income or show minors in ads. Casinos and halls cannot be within 300 meters of schools, playgrounds or youth centres except inside 4-5-star hotels.
AML requirements:
- Reporting and CDD: Operators must report suspicious activity to the Financial Intelligence Directorate of the National Security Agency. CDD applies when registering players, processing or paying ~$2,300 and more transactions, or exchanging tokens worth ~$2,300 and more. Enhanced checks are required for PEPs, high-risk clients and complex or suspicious transactions.
- Data and verification: Customer data (name, birth details, ID number, citizenship) must be verified with official documents or qualified electronic identification. All AML records must be kept for five years.
- Transactions and internal controls: Suspicious transactions must be delayed or, if not possible, reported immediately after execution. Each operator must appoint an AML officer or department. Staff must report suspicions, with penalties for non-compliance reaching up to ~$6m.
Marketing
It is allowed to:
- Display advertising on outdoor billboards located at least 300 meters from schools, universities, cultural centers, playgrounds, dormitories and youth social institutions.
- Display advertising on the facades of licensed venues but cannot cover more than 20% of the facade area and must not exceed 50 sq m in total.
- Advertise on sports equipment, sports facilities, stadiums, swimming pools and on materials or products of sports federations, clubs and organisations, except for equipment and products intended for minors.
- Sponsor events in sport, culture, health, education, social work and projects related to the prevention and treatment of gambling addiction.
It is prohibited to:
- Advertise gambling in radio and television programs, except for draws and announcements of the state monopoly, Bulgarski Sporten Totalizator.
- Advertise gambling in public spaces, on building facades, in print and electronic media including websites, on state or municipal property (except licensed sites) and on outdoor media exceeding 5% of the total advertising area held by a single provider.
- Advertise gambling in a way not expressly permitted.
It is mandatory to:
- Include only the names, types and varieties of games, the registered trademark or trade name of the operator, and information about draws and winnings at the gambling ad.
- Occupy at least 10% of the advertising area (except on sports equipment) by the warning “Хазартът крие риск от развитие на зависимост” (“Gambling carries a risk of addiction”).
- Comply with the general advertising rules.
- Independently verify that the promoted operator holds a Bulgarian licence by affiliates, media outlets and advertising agencies.
Market specifics for entry
In recent years, entry requirements have tightened. Minimum investment amounts have increased, while scrutiny of equipment, staff and funding sources has become more rigorous. A local representative is mandatory, and all gaming software must be certified and registered in Bulgaria. Payment providers are integrated into the regulatory system, and operators must comply with responsible gambling and AML requirements.
Overall, the Bulgarian gambling sector has a lot of potential. It is already populated by both local and international brands such as Winbet, Efbet, Palmsbet and bet365. There are more than 50 online gambling licences (both online casino and sports betting), 21 land-based casino licences, seven land-based sports betting shop licences, more than 1,000 slot-machine licences and 95 B2B licences. This creates a competitive environment where strategic differentiation is key. Despite tighter rules, the market remains stable and is growing, making it attractive for operators willing to invest in compliance and long-term positioning within a mature and well-structured regulatory landscape.
The 4H view
In the current Bulgarian market, traditional player acquisition methods have lost effectiveness due to the strict advertising rules. As a result, operators are shifting focus toward product quality, user experience and long-term player retention. Loyalty, personalisation and built-in responsible gambling tools are becoming more important than promotional offers or aggressive marketing. Platforms that can integrate features such as session reminders, time tracking and customisable limits directly into the interface gain a clear competitive advantage.
At the same time, Bulgaria is moving toward a significantly more regulated framework. The growing compliance burden – including the potential introduction of a full monopoly – requires licensed operators to rethink internal processes. Automated reporting modules, system integration with government registers (such as self-exclusion and deposit limits) and full audit readiness are no longer optional but essential.
This tightening environment is also reshaping the role of B2B providers. There is increasing demand for turnkey compliance modules – particularly those covering AML, player identification and real-time monitoring. Technology vendors able to offer certified, regulator-friendly solutions are quickly becoming strategic partners for operators navigating these evolving requirements.
Altogether, Bulgaria remains a sizable and active igaming market – but the rules are changing. Operators and suppliers that prioritise compliance, transparency and user protection will be best equipped to sustain long-term success in an increasingly restricted and closely monitored environment.
The post The 4H View: Everything you need to know about Bulgaria first appeared on EGR Intel.
4H Agency delivers its monthly insight into regulated markets’ key requirements. This time, Bulgaria is in the spotlight
The post The 4H View: Everything you need to know about Bulgaria first appeared on EGR Intel.