RUSSIA SPORTSBOOK

Russia bans payments to Illegal gambling operators

On May 26 the amendment to Russian gambling legislation have come into effect. This means a legislative ban on money transfers to illegal bookmakers and online casinos.

The measure has been discussed since 2015. And it is only now right before the 2018 World Cup when it took force.

The purpose of the amendments is to prohibit credit institutions from transferring funds from the territory of the Russian Federation to any gambling operator who violates Russian legislation. Payment agents do not have the right to accept funds for subsequent transfer to such operators.

Companies involved into illegal gambling will be placed in special black lists. Black lists will be published and brought to the attention of banks and all payment agents. Those will have to deny Russians money transfers to people and companies from these lists.

Thus the state wants to receive taxes from bookmakers and operators of state lotteries, which work legally, and protect the legal business from unfair competition. According to some experts about 70% of Russian players bet in illegal bookmakers.

Source: bookmaker-ratings.ru

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