Russia plans to increase its tax on betting on January 1st 2017, from a measly $366 per region to a whopping $40,000 per month per region. This is in addition to new regulations imposed in the last month which require the bookies to shed 5% of their betting revenue or a minimum of $44,000 (whichever is higher of course) each quarter to sporting federations in the country. Considering that Russia is composed of 12 different regions, not all of which are prosperous or very appealing, the total fees for sport betting operations – which can climb upwards of $600,000 for a single brand that wishes to service the entire country – do seem rather high at first glance.
benefits of new Russian Betting tax
We at Eu poker, applaud this choice of Russian gambling regulation despite the local freak out it caused in Russian Betting houses. We should all recognize that European countries will legalize more forms of gambling because of increases in generated tax revenue and work opportunities the industry brings. And although these businesses would rather put their money elsewhere, we think that putting the money back into Russian coffers is certainly the best choice for now. Russia will now raise significantly more funds from gambling, and begin to understand the value of the industry to this massive economy. We are banking on more forms of gambling start seeing regulation created in their favor and maybe, someday soon, we’ll even be looking at legal Russian poker, played freely on the best eu poker sites without any interference, this might just happen, maybe even soon.