Bill on new tax on bookmakers was approved in the first reading

The State Duma supported the government’s initiative of charges from betting shops and betting pools in favor of sports organizations.

According to the bill, bookmakers will have to sign agreements with organizers of sports events involving bets and give them 5% of their profit. Besides, the minimal charge amount should not be less than 3 million rubles and the total charge amount is 15 million rubles according to all agreements.

The document also legalizes betting advertising during TV match broadcasting that should not last more than 20% of advertising time. 

Please note that the Ministry of Finance has already prepared the project of amendments to this bill. According to the new department’s opinion, the tax should be 3% of the sum of all accepted bets.