Russian gaming market on the verge of revolution

    Published in: Latest IntelligenceRussia’s plans to legalize online gambling sparked heated debate at the VIII International Russian Gaming Week, with industry participants questioning the model, tax rates and the ability to stamp out illegal betting.About 2,000 amendments to the law on the “state regulation of organization and management of gambling” will be considered by the Russian parliament on June 20.The proposals require bookmakers to become members of a self-regulatory organization (SRO) that will oversee the industry, instead of the state itself. A single SRO will comprise 10 license-holders. Bookmakers at RGW expect that more than one SRO will be formed, though it’s still unclear how the industry will shake out. Currently there are 27 llicense-holders in Russia, with less than 20 actually involved with bookmaking.The security deposit required by every bookmaker is expected to be 30 million roubles ($864,000). Betting websites that fail to meet these requirements will be...

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