The new tax will apply to operators who offer betting on overseas events. Bookmakers will also have to choose between a sports betting or tote licence.<\/p>\n\n\n\n\n\n\n\n
Russia.- New legislation expected to come into force in mid-autumn will limit the type of events on which gamblers can place bets and introduce a 5 per cent tax on company’s that offer betting on foreign sports events.<\/p>\n\n\n\n
General sports betting will be limited to events held by Russian national sports federations and professional sports leagues. For wagering on non-Russian events, bookmakers will have to pay a tax equivalent to 5 per cent of gross gaming revenues (GGR) to the Russian sports federations. Payments must be made every three months or operators will be at risk of losing their licences.<\/p>\n\n\n\n
Operators will now also have to chose between having a sports betting or tote betting licence, but not both. All licence holders will be obligated to back up their licence with a RUB500 million (US$7 million) bank guarantee and RUB1 billion (US$14 million) of assets. <\/p>\n","protected":false},"excerpt":{"rendered":"
The new tax will apply to operators who offer betting on overseas events. Bookmakers will also have to choose between a sports betting or tote licence.<\/p>\n","protected":false},"author":2,"featured_media":8380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"New Russian legislation, effective mid-autumn, will impose a 5% GGR tax on operators offering betting on foreign sports events, payable quarterly to national sports federations. Operators will also be restricted to holding either a sports betting or a tote license, not both, and must meet significantly increased financial requirements including a RUB500 million bank guarantee and RUB1 billion in assets.","focusai_entities":"Russian national sports federations, professional sports leagues","focusai_location":"Russia","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), affiliate_publisher (0.7), marketing_crm (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Market Consolidation Impact","query":"What is the projected impact of the increased financial guarantees and single-license mandate on market consolidation and the viability of smaller operators within the Russian iGaming sector?"},{"label":"GGR Tax Implementation","query":"How will the 5% GGR tax on foreign sports betting be precisely calculated and audited, particularly concerning cross-border transaction flows and reporting standards for Russian sports federations?"}],"footnotes":""},"categories":[16331,158,155],"tags":[2255,233,2895],"class_list":["post-8378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-elsewhere-news","category-slider-home","category-sports-betting-news","tag-russia","tag-sports-betting","tag-taxes"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8378"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8378\/revisions"}],"predecessor-version":[{"id":8413,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8378\/revisions\/8413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8380"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}