The Russian government is going to prohibit wagering on non-sports events. Local bookmakers feel really disappointed concerning this fact. According to a new draft bill published in April, betting offices have to pay 10% of their sports betting sales on the Internet as taxes. However, that is not all. The prohibition of both online and land-based non-sports betting offers was added to the bill.
Bookmakers believe that this bill will affect the gambling industry in December, if approved.
Konstantin Makarov, CEO of Bingo Boom, does not approve the ban of non-sports betting. He believes that there is no reason for such a decision of the Russian authorities. According to Mr. Makarov, it is much more reasonable to regulate non-sports betting activities rather than to prohibit them completely.
The situation with taxes is also unclear. It is stated in the document that there are 10% taxes. However, it is not mentioned whether this figure applies to revenue or turnover. Probably, the lawmakers did not organize consultations with the representatives of the gambling industry.
According to Konstantin Makarov, it is necessary to improve this draft bill and amend it with more reasonable tax rates. The revenue tax should not exceed 5%. Only such changes may allow bookmakers to fund the corresponding organizations.
Some betting operators believe that 10% turnover taxes will exclude the opportunity to make a profit, since they are too high.