The State Duma, the governing legislature of Russia, is preparing to vote on a bill that would see the introduction of a new regulator. This single regulator would have jurisdiction over the entire Russian gambling industry.
Igor Stankevich and Viktor Deryabkin of the United Russia party introduced the bill. It was first sent to the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship.
They approved the bill on the 17th of November, returning it to the main Duma floor. It is expected to have its first reading by the end of 2020.
This new regulator will have many duties, including but not limited to “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.”
Part of this will include “monitoring and detecting” illegal online gambling activity.
This will replace the current system in Russia. At the moment, the State Tax Service serves as the general gambling regulator. However, the bookmakers are mainly governed by self-regulating organisations which have rules regarding betting and payment portals.
With brands such as BtoBet now expanding into Russia, and the growth of the markets there overall, this is a fantastic time for the Duma to consider introducing further regulations to online casinos operating here. They will also look to cooperating with other regulators as necessary to provide a concrete and safe place for their players.