The global gaming industry has been on a steep upward curve since the turn of the 21st century, but several nations are yet to fully capitalise.

These include Bulgaria, where the gaming sector is still in the development stage as it gets to grips with key regulatory changes implemented during last year.

The country overhauled its Gambling Act in 2024, with a view to ensuring that it is fit for purpose in an age where digital gaming rules the roost.

Players have been able to play slot games at Betway and on other reputable platforms for some time now, but the government has been keen to get to grips with unlicensed operators.

The regulated gambling sector in Bulgaria is required to finance social initiatives, but industry experts believe significant improvements can be made in this area.

Rumen Spetsov, the director general of Bulgaria’s National Revenue Agency (NRA), says there are several other elements which need to be addressed to get the gaming sector where it needs to be.

“Greater transparency is needed regarding the way in which funds from the gambling sector are allocated for social initiatives,” Spetsov said. “Clarity about financing could increase public trust.

“The creation of specialised funds for specific social problems, such as gambling addiction or socially vulnerable groups, can increase the effectiveness of investments.

“It is important to conduct impact assessments of social initiatives funded by the gambling sector to determine their effectiveness and make necessary adjustments.”

The updated Gambling Act in Bulgaria has garnered mixed reactions, with some operators arguing their complexity makes them extremely difficult to adhere to.

It is a similar story where advertising is concerned. The rules have been described by several companies as ‘confusing’ and their requirements ‘too costly’ to comply with.

There is clearly still work to do before Bulgaria can truly make its mark in the gaming industry, but Spetsov believes the country is travelling in the right direction.

He has urged the government to take inspiration from other jurisdictions in relation to monitoring. They have centralised platforms which collate data from different operators.

Spetsov says improvements can also be made to responsible gaming programmes in Bulgaria, particularly where self-monitoring tools are concerned.

Deposit limits are among the initiatives which have been successful implemented in the United Kingdom and Spetsov thinks these could make gaming safer in Bulgaria.

One area where Bulgaria is excelling is its willingness to participate in international networks for information exchange with regulators from other countries.

This allows for sharing of good practices and analysis of data, thus creating a more positive landscape for the wider gaming industry to operate.

The NRA has also actively participated in international conferences and workshops, where it discusses industry challenges with representatives from other jurisdictions.

Having made a significant step by modernising its Gambling Act last year, Bulgaria has laid the foundations for the industry to flourish in 2025 and beyond.

Increased transparency, further regulatory tweaks and more cooperation with international partners are some of the key elements Bulgaria will focus on this year.

Spetsov says they will include the introduction of new initiatives designed to promote responsible gaming, including educational campaigns.

Increased investment in emerging technologies such as blockchain and artificial intelligence will also help Bulgaria achieve its aim to become a major player in the gaming sector.