Russian Duma will be voting on creating a single gambling regulator

Russian Duma will be voting on creating a single gambling regulator

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Posted by: AffPapa
russian duma

The State Duma, who is the lower house of the Federal Assembly of Russia, is set to be voting on a bill that would see the introduction of a new regulator to Russia. This single regulator would have jurisdiction over the entirety of the Russian gambling industry.

Igor Stankevich and Viktor Deryabkin of the United Russia party were the ones who introduced the bill and it was first sent to the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship.

The bill was approved on the 17th of November, returning it to the main Duma floor. The first reading is expected to be held by the end of 2020. This new regulator will have many different responsibilities, including “improving the effectiveness of control and supervision in the field of gambling in order to increase funds, which will be directed to the Ministry of Culture and Sports.”

Moreover, part of the duties will include “monitoring and detecting” illegal online gambling activity. This will be replacing the current system in Russia. Currently, the general gambling regulator is the State Tax Service. However, the bookmakers are mainly governed by self-regulating organisations which have rules regarding betting and payment portals.

With Russia noticing the growth of the Russian market and the expansion of brands such as BtoBet into the country, this is an ideal time for the Duma to consider the introduction of further regulations to online casinos operating in Russia. Furthermore, they will be looking into cooperating with other regulators as necessary to provide a concrete and safe place for their players.