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All about the single Russian gambling regulator

All about the single Russian gambling regulator

Here you'll find out everything about the single Russian gambling regulator.

by Academia   |   comments 0

With a new Russian bill, learn all about the single Russian gambling regulator, which will be voted on by the State Duma legislature. One of the main objectives is "to improve the effectiveness of control and inspection in the gambling area in order to increase funds, which will be forwarded to the Ministry of Culture and Sport". It also includes the “monitoring and detection” of illegal activities within online gambling.
 

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In this way, they aim to improve Russian gambling legislation, with the support of other regulators if necessary.
 
Being administered by a fiscal council involving a president and four members, all with a three-year term in office by the government, the body will be formed under the control of the Ministry of Finance. In addition, it will have a director-general, also appointed by the government, but with an additional two-year term.
 

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In this way, this new single gambling regulator will replace the current one, as today, the State Tax Service is the general regulator for gambling in Russia. However, bookmakers are run by several self-regulatory organizations (SROs), which dictate betting rules and payment portals.
 
Thus, last week Viktor Deryabkn and Igor Stankevich, from the ruling United Russia party, presented Bill No. 1055657-7. The PL was sent to the State Duma Economic Policy, Industry, Innovative Development and Entrepreneurship Committee.
 
This Tuesday (24), the Bill was approved by the Duma, and is now scheduled for the first reading in this year of 2020. In addition, before the start of the reading, the State Duma Legal Department will present an analysis aiming to deliver, at the latest, 1st of December.
 
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