Russia Proposes Legalizing Online Casinos

In Russia, Finance Minister Anton Siluanov has proposed that the president legalize online casinos, report Kommersant on January 27.

Finance Ministry Initiative

The proposal was set out in a letter from the head of the Finance Ministry to the President of Russia.

The ministry suggests lifting the current ban on online casinos subject to a number of conditions.

The market is proposed to be launched under a monopoly model.

A key element would be a single operator appointed by presidential decree on the government’s recommendation.

Bets are expected to be accepted via the TSUPIS wallet, similar to the bookmaker market.

The tax rate for the operator would be at least 30% of GGR.

This refers to revenue after winnings paid out.

Administration of the new tax is proposed to be assigned to the Unified Gambling Regulator.

Only users aged 21 and over would be allowed to participate.

The operator and the regulator would also be tasked with measures to prevent gambling addiction.

The Finance Ministry estimates potential federal budget revenues at RUB 100 billion per year.

At the same time, the current turnover of the illegal online casino market exceeds RUB 3 trillion annually.

Online casinos are currently prohibited in Russia.

Only bookmakers and totalizators are legally allowed to operate online, while land-based casinos function exclusively in designated gambling zones.