RUSSIA SPORTSBOOK

Russia wants bookmakers to pay more

On October 6 the meeting of the Presidential Council for the Development of Sports took place. Oleg Kozhemyako, the head of the working group preparing the meeting, and Anton Siluanov, Minister of Finance of Russia, spoke at it.

They proposed to increase at least 2 times the amount of payments bookmakers should pay for the development of sports. Vladimir Putin have already supported the proposal.

Currently the law obliges Russian legal bookmakers to pay 5% of their income to the sports federations whose events were used by bookmaker to accept bets. Payments are made once a quarter, the minimum amount of deductions is 15 million rubles.

Moreover, starting from the 4th quarter of 2020, the amount of payments will inevitably increase several times. This is because on September 29 a law came into force obliging bookmakers to transfer payments not only from bets on Russian sports, but also on foreign competitions.

Experts say this is serious change. The industry should wait for the bill from the Ministry of Finance. The impact on the industry can be assessed once the proposals are specifically formulated.

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