Betting business will invest RUB 1 billion in Russian sports – Vitaly Mutko

Thanks to the new legislative changes, betting business will annually transfer round 1 billion rubles for the development and support of the national sports. It was reported by the Deputy Prime Minister of the Russian Federation Vitaly Mutko.

We would like to remind that on March 28 the president signed the draft intended to increase the revenues of the professional and youth sports.

The amendment prohibits bookmakers to use the branding of sports tournaments organizers without their consent. The new format envisages paying fees to competition organizers and leagues. 80% of payments will go for professional sports, and the remaining 20% – for youth sports.

The new legislation also stipulates liberalization in the sphere of betting advertising, which opens up new business opportunities. Changes will influence the advertisements on TV, in printed media, on websites, sports uniform and outdoor advertising.