Russian state Duma will evaluate, before the end of the year, a new bill that brings a new proposal to the table regarding the formation of a new gambling regulation institution.
The proposed measures state that there will be one regulator for the whole gambling industry in Russia and it has already had its first reading in the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship.
The first stage was approved on November 17th and will now go to the upper house for reading.
If approved by the upper house, the new regulator will have a number of tasks which include the “improving the effectiveness of the control and inspection of the gambling market in order to increase the funds, which will be forwarded to the Ministry of Culture and Sports."
Some licensed sports betting operator have already bashed on the proposal claiming that the government would only manage to destroy a well-functioning system. One of the predicted effects after the new bill passes is a reduced amount of sponsorship deals.
Some sports association officials are keen on debating that the two party representatives have no industry experience whatsoever and the proposal is more likely seeking to boost federal funds rather than help sports.
The new regulator will be responsible for monitoring and detecting illegal online gaming activities and for the preparation of proposals to improve the national gaming legislation.
At present, the State Tax Service is responsible for casinos and online gambling but bookmakers have the leeway to self regulate. This new bill will see casinos, online gambling and bookmakers all fall under the single Russian regulator.
The first reading of the bill would follow the analysis from the Legal Department of the Office of the State Duma, which is expected to be submitted by December 1.
