What events shook the gambling industry in Russia on February 12-18: digest

The President approved a law providing for fines for transfers in favor of illegal gambling companies, and the Ministry of Finance plans to increase sanctions for the sale of lottery tickets to minors. At the same time, the Association of Bookmakers appealed to the Government with a request to create a new structure in the gambling market. Among other news from Russian bookmakers: Moscow has calculated the proceeds from taxes and fines of bookmakers in 2021. About these and other events in the industry in the latest digest on February 12-18.

What events shook the gambling industry in Russia on February 12-18: digest

Content:1. Approval of fines for online cash transfers 2. Regional revenues from gambling business3. Experts told who finances esport4. Fines for selling lotteries to children may increase 5. The illegal bookmaker will continue to accept bets on esports.6 The authorities have denied rumors about the taxation of foreign video game stores.7 The BC Association appealed to the Government8. The Central Bank is successfully testing the digital rouble.9 Registration of Russian domains will take place through government agencies.10 Russia is losing economic freedom

Approving fines for online casino transfers

The Federation Council approved the decision, which has been discussed for a long time. Now, for transferring money in favor of representatives of the illegal gambling business, an individual will pay fines in the amount of 100-500 thousand rubles, and a legal entity in the amount of 25-40% of the transfer amount, while the sanction will be at least 5 million rubles.

After that, the law on administrative responsibility for transfers, accepting payments and signing contracts with illegal gambling operators was approved by the President of the Russian Federation. Read more about the fines that banks and telecom operators will pay for transfers to illegal immigrants here.

Regional gambling revenues

The Kuban authorities have released figures of tax revenues received from the gambling industry. In 2021, the region received over 446 million rubles thanks to the legal gambling business. And this despite the fact that the planned receipts were at the level of 424.79 million rubles.

At the same time, data on receipts from gambling operators were published by the Moscow authorities. According to the information provided by the fiscal service, in 2021 bookmakers transferred 375.6 million rubles of taxes. At the same time, operators paid 5.2 million rubles in fines for violations. This is taking into account the fact that there are 329 ground points and 9 interactive betting centers in Moscow.

Experts told who finances esports

The director of Gambit Esports said that a few years ago, the esports industry earned primarily through sponsorship and advertising contracts. Only 10% of the income consisted of prizes from winnings at tournaments and the sale of merchandise. Today, foreign clubs often resort to venture investments, but Russian esports rarely uses this method so far. Domestic cyber organizations are testing new ways of earning money, for example, the sale of fan tokens.

Fines for selling lotteries to children may increase

The Ministry of Finance is working on a project that provides for an increase in fines for selling lotteries to minors. According to the new bill, sole proprietors and officials will be fined 30-50 thousand rubles for such a violation, and organizations will be fined 300-500 thousand rubles. For citizens, the amount of recovery will remain at the level of 2-3 thousand rubles. The progress of the bill’s processing can be tracked on the website.

Illegal bookmaker will continue to accept bets on esports

Representatives of the EGB bookmaker, illegal in the Russian Federation, said that they do not plan to stop accepting bets on ordinary non-tournament games in esports, although they are waiting for high-profile Dota 2 tournaments. BK gave comments against the background of incoming complaints about streamsnipers who are trying to achieve a predictable result for winning a bet with a weak game. However, EGB is confident that refusing to accept bets on such games will not do anything, since many bookmakers process such bets.

The authorities have denied rumors about taxation of foreign video game stores

The media reported that officials plan to introduce a business model according to which popular Western platforms will be required to pay a 5% fee in favor of the development of patriotic domestic games. However, the Ministry of Finance submitted an official statement in which it denied this information. Our journalists found out the details.

BC Association appealed to the Government

The Bookmakers’ Association has addressed a letter to the Government, in which it presented its views on the need to unite a number of ministries, departments and organizations into a single advisory council. According to the association’s proposals, the new structure will discuss the regulation of the betting industry with market participants, raise topical issues and find solutions to them. Read the details of the appeal in a separate material.

The Central Bank successfully tests the digital ruble

The central bank has reported on the beginning of testing of the domestic digital currency, which is going well. PSB and VTB were able to conduct operations with the digital ruble using a mobile application. Bank customers have the opportunity to conduct transactions in digital rubles among themselves, exchange non-cash rubles for digital ones and open a wallet in a mobile application. Learn more about the testing process and results here.

Registration of Russian domains will take place through government agencies

The Russian Internet segment will soon register domains through the state regulator. According to experts, such a move will minimize the problems associated with spam, phishing and the spread of viruses. The relevant bill has already been developed.

Russia is losing economic freedom

This is evidenced by international ratings. Now, in terms of economic freedoms, the Russian Federation is on a par with South Africa, Gabon, Rwanda and Mali, being below the hundredth position among all countries of the world. According to the results of 2021, the Russian Federation took 113th place, ahead of only Belarus and Ukraine among European countries.The rating compilers focus on the lack of investment freedom, state interference in market affairs, a biased judicial system and high corruption.

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