New laws and events in gambling world: news digest

21.12.2018

Russian President Vladimir Putin has adopted the law on prohibiting bets on sports competitions for children and young people, Yalta will build a gambling and entertainment zone, and Tigre de Cristal shows the latest success: these and other news are revealed in the Russian Gaming Week digest.

New rules for betting providers

Next year, Russia’s betting operators will give purpose-oriented allocations of interactive bets to Russian sports organizations.

The bill obliging betting shops to transfer these funds was introduced for consideration by the State Duma in March 2018, but it was reported out in autumn.

As of today, betting providers are major sponsors of Russian sports events. According to preliminary data, the bill should become effective in 2019.

Yalta Administration approves territory for gambling zone

Yalta announced the establishment of gambling and entertainment zone at the end of 2017. In 2018, we found out that the project was ready for implementation and waiting for approval. A gambling zone investor, who asked not to be named, said that a casino would start operating within the approved area in 2019.

Tigre de Cristal shows the next profit enhancement

Tigre de Cristal, a Russian gambling venue, noted a significant growth of net income. It was stated in the report by the chief resident of Summit Ascent Holdings Ltd.

Reportedly, the casino earned $6 million in total in 2018. This figure exceeded the previous year’s results: the venue gained $4 million in 2017.

The report stresses the increasing amount of Tigre de Cristal guests. According to the data, the venue was attended by 238,000 people in the first three quarters of this year, while in 2017 it brought together 219,000 visitors.

Russia to launch service for tracking fixed matches

Russia has launched a free service for tracking changes in quotations of Russian betting shops before, during, and after sports events.

The website forms a chart showing in real-time mode fluctuations in rates of all popular markets of a required match. A sharp shift of this curve will allow to track suspicious large money flows with a probability of 70% and assume that the game can be fixed,” explains Aram Pogosyan, the head of the ODDS.ru project.

Russian President adopts the law banning bets on sports competitions for children and young people

December 18, Vladimir Putin has signed the Law “On Making Amendments to the Federal Law On State Regulation of the Organisation and Conduct of Gambling and Modifications to Specific Legislative Acts of the Russian Federation” and articles 19.1 and 26.2 of the Federal Law “On Physical Education and Sport in the Russian Federation”.

It forbids wagering on sports competitions for children and young people in betting shops and betting pools. Now, betting providers have to conclude agreements on the application of sports competition symbols and names with all-Russian sports federations that organize events available for interactive bets and bets in land-based betting pools.

The law will come into effect from the day of its official publication. It is published on the Russian President’s official website.