TLDR Armenia is attracting iGaming companies with its unregulated B2B market that requires no specific gaming license, just standard corporate and AML compliance. More than 20 international firms relocated to Armenia in the past year, some bringing workforces of up to 1,500 people. B2C gambling licenses cost at least $1 million annually, limiting domestic operators to just five licensed companies. Armenia’s Central Bank introduced a formal crypto licensing regime in January 2026, reversing its previous skepticism toward digital assets. A centralized government monitoring system is being built to track every bet, win, and loss in real time across the country.
Armenia is quickly becoming one of the more talked-about destinations in the global iGaming industry. The small, landlocked country in Central Asia is drawing international gaming companies at a pace few predicted even a year ago.
The main draw is Armenia’s B2B market, which operates with almost no regulatory barriers specific to gaming. Companies offering software, risk management, and back-office support can set up shop without obtaining a gaming license.
Mesrop Manukyan, a founding partner at MBLegal, said the entry barriers are minimal. He noted that businesses only need to comply with regular corporate and anti-money laundering laws.
This open environment has led to a wave of relocations. More than 20 international firms have moved to Armenia over the past year. Some of these companies brought workforces as large as 1,500 employees.
The economic impact has been considerable for a country with a GDP of roughly $26 billion. iGaming services have grown from a niche sector into a real pillar of the national economy.
Armenia’s existing tech sector has helped fuel this growth. The country’s tech industry produced over $3.1 billion in output in 2024, giving iGaming firms a ready-made talent pool to draw from.
B2C Licensing