The Russian government will review a draft law on amendments to the Federal Law "On Physical Culture and Sports in the Russian Federation", which includes advertising of betting offices.
The new draft law on amendments to the Federal Law "On Physical Culture and Sports in the Russian Federation" has a number of amendments relating to betting offices, namely - their advertising.
The following amendments are listed in the draft law:
- Betting offices in Russia are allowed to be advertised only during live matches broadcasts. The duration of such advertisement should not exceed 20% of the total duration of the sporting event
- Betting companies are obliged to transfer 5% of their income to support Russian sports on a quarterly basis. The minimum amount of transfer under one contract is RUB 3 mln. (USD 44 thousand), at least RUB 15 mln. (USD 218 thousand) – by a quarter.
The draft law does not provide for betting offices advertising in the press and on websites.
For information, Russian government has also prepared a draft law on the imposition of a tax on winnings in betting shops. According to experts, this law will negatively affect the industry, since many betting offices will work underground.