Russia’s online industry entangled in regulatory web

Russian bookmakers continue to struggle with a tangled web of regulations aimed at controlling the online market, with a new centralized online payments hub coming under fire for being overly complicated. Industry participants gathering at the recent Betting Trends Forum, on March 17th in Moscow, said they were having a hard time with the so-called TSUPIS system, which was mandated by the government to track payments and ensure the collection of tax revenue. A proposal for bookmakers to pay 5 percent of revenue to support Russian sports teams and a mooted plan to introduce instant lottery terminals across Russia also raised consternation.  The TSUPIS system is mandatory for all deposits and withdrawals at nationally licensed online gaming sites and works something like Skrill or NETELLER. “All the problems with the collection of personal data and personal income tax, etc, will, unfortunately, lead to the self-discreditation of TSUPIS under the SRO control and then...

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