Russian Finance Ministry May Legalize Online Casinos in April

In Russia, the Finance Ministry may announce the upcoming legalization of online casinos as early as April, reports the financial portal Vyberu, citing an unnamed representative of one of the leading bookmakers.

Government Plans for Online Casinos

Legalization and the Budget

The Cabinet plans to regulate the online casino market by May to partially offset falling budget revenues. Legalizing online casinos is seen as a way to increase state income and give Russians more opportunities to win.

Market and Restrictions

Online casinos have been banned in Russia since 2009. Russian players place bets on foreign sites, which are blocked by Roskomnadzor; however, mirror sites and duplicated servers are launched faster than authorities can track them.

Finance Ministry Initiatives

Anton Siluanov’s Proposal

Finance Minister Anton Siluanov sent a letter to the President in January proposing the legalization of online casinos through the creation of a special state operator. This operator would remit at least 30% of revenue (GGR) to the treasury, which is estimated to generate around 100 billion rubles annually.

Acceleration of the Process

Recent ministry data indicate that the legalization process may speed up due to the critical state of budget revenues. Oil and gas income fell by nearly 50% over two months, increasing the need to find additional sources of revenue.

Market Outlook

Impact on Players

Legalizing online casinos will make gambling more accessible to Russians and provide new opportunities for participating in online betting.

Impact on State Revenues

The legalization of internet casinos is expected to become a significant source of budget revenue, reducing the fiscal gap and stimulating tax income growth.