Russia cuts bookmakers some slack on sports body funding

Russia has cut its bookmakers some slack by reducing their mandatory contribution towards Russian sporting bodies.

In March, Russia’s Ministry of Finance confirmed plans to require all Russian-licensed sports betting operators to return 5% of their sports betting revenue to local sports bodies, with minimum contributions set at RUB 15m (US $241k) per quarter, making each operator’s annual minimal contribution around $1m.

On Tuesday, the Ramblers News Service reported that the Ministry has revised its plans, setting the sports rate at 3% of land-based and online revenue (before tax), with a carveout for mobile sports lotteries. The money collected is to be transferred to the federal budget. The Duma will consider the revised measure on November 2.

Bingo Boom president Konstantin Makarov told Bookmaker-ratings.ru that he welcomed both the reduced rate and the decision to transfer the funds directly to the state rather than to individual sports agencies.