Regulated
Gambling is a regulated and licensable activity in Bulgaria. The Gambling Act 2012 does not distinguish between online gambling and land-based gambling but rather recognises online mediums as mechanisms providing general gambling. See here for more information.

Article 2 of the Gambling Act defines gambling as “any game of chance whereupon a wager is made and there may be either winning or a loss of the wager.” The following gambling activities are regulated and permitted:

• Sports betting
• Betting (on random events e.g. betting on lotteries, or as a result of knowledge of facts but excluding sports betting)
• Casino betting (including poker and other card games)
• Raffles, bingo and keno

Market size
The Bulgarian gambling industry was predicted to generate BGN200m in taxes  for the country’s budget in 2024.

Competitive landscape

15 licensed operators remain active in the market, including major local players like Efbet, Winbet and Palmsbet, as well as international brands like Bet365 and Bwin and newer market entrants like Sportingwin and Betmarket.

Localisation
Payment methods popular in Bulgaria:

• A1 (previously Mtel or Mobiltel) is also among the most popular deposit methods in Bulgarian online casinos. It is available only to subscribers of the mobile operator A1. To make such a payment, one needs to request an SMS code, then enter it in the indicated field. The amount of the deposit will be charged to the user’s monthly bill with the mobile operator
• bg is an electronic wallet through which one can make secure payments on betting sites

Top Key Attractions and Challenges
Attractions

• Rapidly growing market with a population with a relatively large propensity for gambling
• Regulated jurisdiction where most land based and online gambling activities are permitted
• The organisation and conduct of gambling in Bulgaria may be carried out by entities in or from another EU or EEA Member State or Switzerland with minimal infrastructure, and integration requirements

Challenges

• Advertising is now restricted to a few outlets such as billboards, where online media and broadcast ads are now banned
• High initial investment / capitalisation costs
• Bulgarian Sports Totalisator has monopoly control in Bingo, Lottery and Offline sports betting