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- 🚫 Mongolia to Purge Betting Platforms
🚫 Mongolia to Purge Betting Platforms
Top Profit-Earning Securities Firms
Khulan MendsaiKhan
March 10, 2025 • Estimated Reading Time: 10 minutes
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Today’s highlights in 3 sentences…
😥 2 ppt Increase in Interest Rate
❌ Purging of Online Betting Sites
🤑 Top Profit-Earning Securities Firms
Buckle Up!
MARKET
BOM: The Bank of Mongolia raises its interest rate by 2 percentage points to 12%.
MNG: President of Mongolia to pay a state visit to the Czech and Poland.
EBRD: EBRD to provide a senior unsecured loan of up to US$ 80m to KhanBank (KHAN) under the GCF GEFF Regional Framework, with up to $60 million from EBRD and $20 million from the Green Climate Fund (GCF).
🚫 Mongolia to Purge Betting Platforms
The Mongolian government finalizes a bill that imposes a complete ban on all forms of online betting within the country’s borders, classifying it as a criminal offense. The proposed law, set to be urgently submitted to Parliament, holds individuals criminally liable for promoting, organizing, or supporting platforms like 1xBet.
🏃🏻➡️ $500 Million Drains to Russia?
Lately, 1xBet makes waves online, with claims surfacing that Mongolia loses $500 million annually to Russia through this betting platform. The government, now calling online gambling a modern-day plague, finally decides to take action.
Authorities launch a full-scale crackdown on online betting, shutting down 25 domains and 9 websites linked to 1xBet and beyond. They petition Meta (META) to remove over 100 gambling-related accounts and push to block betting apps from the Apple App Store and other platforms. Next, they aim to amend the Licensing Law to ban all paid predictions and betting games requiring permits.
🐈⬛🐁 The Cat-and-Mouse Game Begins
Even with legal bans, betting operators always find workarounds, changing domains, shifting offshore, and encouraging users to rely on VPNs. China, for example, imposes heavy fines and even hands out prison sentences for online gambling, yet it thrives underground, with many players moving to Macau and offshore platforms.
🤔 Similarly, Russia cracks down on 1xBet in 2014, blocking its domain and sentencing one of its founders to 3 years in prison. Yet, the platform still operates under different names, reportedly with high-level political ties.
🗣️ Ban or Regulate? The Big Question
3 years ago, Mongolia considers legalizing casinos while debating a Betting and Lottery Law. That proposal requires betting operators to have at least ₮1 billion in capital and local servers in Mongolia.
Now, the big question… Does Mongolia declare war on online betting or take a more strategic approach by regulating it? With examples from total bans to tight regulation, the government has plenty to consider before making its next move.
🤑 Dominating the Market: Top Profit-Earning Securities Firms
Here’s a deep dive into the 2024 earnings results for securities companies on the MSE, brought to you exclusively by Lemon Press!
📊 52/28: ₮370 billion
Out of 52 securities companies on the Mongolian Stock Exchange (MSE), 28 companies submit their reports. They manage assets worth ₮370 billion last year. As a result, their operating income reaches ₮40 billion, and their net profit is ₮16.8 billion. As for their trading,
📈 ₮719 billion Trading: Securities companies trade a total of ₮719 billion in the primary and secondary markets of stocks and bonds in 2024. Last year, the IPO flow is relatively calm, and secondary market trading accounts for 90.3% of this amount. However, 29.5% of the total secondary market trading is done by BDSec (BDS) alone.
💰 Bond Lover: The primary market trading of bonds and asset-backed securities reaches ₮1.6 trillion, indicating that 2024 is a bond year. $BDS also accounts for 49.2% of these trades, leading to a 5.6-fold increase in their net profit for the reporting year. In contrast, Golomt Capital Securities was the most active in the secondary market trading of bonds and asset-backed securities, with ₮451 billion in trades.
🤑 Top Tier = ₮12.8 billion
To dive deeper, Golomt Capital’s profit accounts for 76% of the total profit of securities companies. While TDB Securities, the top profit earner of 2023, sees a 31.1% decrease in profit in 2024, Goodsec experiences the largest profit increase, rising by 748%. As for Golomt Capital, the 2024 winner, it remains the most active in the secondary bond market and the OTC, underwriting 48.4% of the ₮3.1 trillion in bonds registered since 2022.
Final thought, as the market becomes more active, trading expands, and the number of public companies and small investors increases, competition in the securities sector intensifies. If securities companies flood the mining product exchange, these numbers will explode, and the competition will get ridiculously fierce. Let’s see how that plays out.
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ECONOMY & BUSINESS
POLITICS
Why Did Mongolia’s Foreign Minister Visit Japan? (TheDiplomat)
Sa’ar Appoints New Ambassadors to China, Mongolia, Poland,and Myanmar. (TheTimesofIsrail)
Australia’s Next Ambassador to Mongolia. (ForeignMininster)
Security Guards at Popular Pattaya Mall Detain Mongolian Tourist for Stealing Branded Goods. (PattayaMail)
Mongolia still expects new Russia-China gas pipeline to go ahead. (SCMP)
MACC Signs MoU with Mongolia Anti-Corruption Agency. (MalaysiaNews)
CULTURE & LIFESTYLE
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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg
Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.