(AsiaGameHub) – Making online casinos legal in Russia would open up new business prospects and stimulate the economy, according to a top industry expert.
These remarks were made by Petr Kipa—who previously served as marketing head at Russian gambling firm BetBoom and former leader of BetBoom LatAm—as reported by Russian media outlet Championat.
Kipa stated: “[Legalized online] casinos would be a breath of fresh air. We should let people and businesses enjoy easy access to licensed products.”
He noted that both customers and operators would be willing to pay “the same price, or even double” what they currently spend on unlicensed online casinos if a legal option existed.
At present, all online casino platforms are illegal in Russia. However, the Ministry of Finance has put forward a proposal to regulate the industry instead. The ministry intends to impose a tax of 30% on operators’ annual profits, after subtracting winnings paid out to players.
Kipa mentioned that it would be “easy” for operators to adjust their business models to align with the ministry’s regulatory proposals.
He also suggested that foreign-based operators would rush to enter the Russian market if legislators greenlight the proposal.
“This would be an entirely new business sector for Russia,” Kipa stated. “iGaming providers will come into existence and begin operating here. We know they are out there—some are already active in neighboring countries like Georgia, Armenia, Latvia, and Lithuania.”
Legalizing Online Casinos: The Ministry’s Controversial Plan
The ministry’s proposal has faced pushback from various well-known groups, including the Russian Orthodox Church and opposition legislators.
Recently, legislators have passed a draft law that would allow regulators and law enforcement agencies to expedite blocking orders for unlicensed online casinos.
In the interim, Russian law enforcement continues to crack down on online casino operators.
In Voronezh Oblast, investigators have detained a 35-year-old man and his 31-year-old sister. According to police, the siblings ran an online casino they developed during the COVID-19 pandemic.
The regional office of the Investigative Committee has filed its case with a district court, and the pair is scheduled to go on trial in the coming weeks, as reported by Russian media outlet Obozrevatel Vrn.
Law enforcement officials state that the unidentified pair used basic home computer gear and their mobile phones to create a mobile casino app from the ground up.
Investigators note that the pair launched the app in 2022. If convicted, the court could sentence the suspects to up to four years in prison.
This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content.
AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.