RUSSIA

Russia to toughen up rules for bookmakers

According to RIA News, law on gambling is about to get tougher. The bill, which introduces more rigorous rules for casino operators and bookmakers, was recommended for approval by the State Duma Committee on Economic Policy, Innovation Development and Entrepreneurship. The Committee recommends adopting the draft law in the first reading.

The document contains a complete list of events eligible for betting. In addition to sports events, bookmakers will be able to offer betting services related to live entertainment shows, elections and referendums. It is reported that the list is aimed at preventing Russian bookies from using various types of slot machines and software under the guise of bookmaking.

All betting companies will have to provide guarantees of winning payout. Moreover, banks that will issue these guarantees for bookmakers, have to meet the list of requirements in order to secure the guarantee provided. Such banks must operate for more than 5 years and have capital of at least 1 billion rubles.

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