RUSSIA

New rules for Russian Bookmakers come into force

All Russian bookmaker companies and sweepstakes must switch to the new rules and renew their license. Those who did not manage to do this by September 30 should stop working.

The gambling law was approved last year and the bookmakers were given a year for transition. Requirements have been tightened. Starting from October 1, 2021, operators can only accept bets on official Russian and international sports competitions, and sweepstakes only on horse races.

In accordance with the Russian federal law, legal gambling operation requires a bank guarantee in the amount of at least 500 million rubles. According to the law, betting companies must sign agreements with sports federations hosting the competitions. According to these agreements with federations and leagues, BC will have to give them part of the profit (in the future, this money will go to the development of sports).

Those market participants who did not manage to renew the license will lose it and will not be able to work from September 30.

Earlier, the Unified Gambling Regulator was created in Russia. One of its tasks will be the fight against underground bookmakers and sweepstakes. It will begin its work on October 1. It is now allowed to organize gambling in Russia only after joining the regulator’s information system.

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