Russia has remained to be a fertile ground for gambling industry. However, the nation has come up with its newest law to block online transactions. Yes, it is true that Russia’s Ministry of Finance has introduced a new anti-gaming bill. Through this bill, a strict warning has been given to all the payment processors and other financial institutions to restrict all the online transactions occurring between the internet online companies and Russians.
According to the media reports, Russia took a major step in 2009 also by legalizing some gambling zones and prohibited the same if done outside of these zones. Despite being various bills introduced, Russian citizens have not terminated accessing the internet gambling firms. In fact, a survey highlights that Russian Federation citizens spend almost around $3 billion on online gambling over a year. No doubt, the amount is far more than the nation would have ever expected.
About the New Anti-gaming Bill
If the new bill is approved, it will set out firm rules and regulations for the banks to block all kinds of online transactions taking place between players and global operators. In addition to this, it is known that the Federal Task Service has planned to list out the names of all the international gambling companies and players that are indulged in illegal internet gambling activities.
Once the list has been created, it will be forwarded to the financial institutions all over the nation, so that the future transactions of those in the list can be blocked. It is a very significant step towards safe online gambling and the new bill is sure not to spare anybody involved in illegal gambling.
It is known that the same bill was also put forward in the year 2015 but did not gain an approval. The first draft was heavily opposed by some financial institutions and ministries. As a result, it was put aside then but is sure to gain momentum now.
Will the New Anti-gaming Bill Have an Effect on the Poker Market?
The bill will have a direct impact on the online poker market of Russia. The nation has been earning well through poker, as it is the most preferred choice of the Russian citizens. It is known that around 20% Russians enjoy online poker and contributed greatly to the revenues of different casinos. One of the Russian advisers believes that the game actually declined after what UIGEA did in 2006 but not for long. Moreover, the country hardly receives any tax benefits out of the operations of grey market. The advisor believes that poker must be declared as a ‘game of skill’ with so much money at stake.
On the other hand, Kirsan Ilyumzhinov, head of the World Chess Federation (FIDE) mentions that poker has no reasons to be illegal. In fact, he has prepared proposals regarding the poker legalization and is all set to present before the government. Kirsan has revealed his plans to make online poker an intellectual sport. However, the debates and discussion over the same are yet to take place and the final verdict will be out after government has acknowledged the proposal.
The new bill is set out with a motive to restrict illegal gambling activities at the hands of individual players, financial institutions, and gaming operators. The Russian government is determined to bring out this law ensure that gambling transactions take place through legal methods only. The bill has undergone various amendments and updates already. To add on, it is a warning for the players also to not play casino games like Dracula slot at any illegal site and make deposits only through approved methods. Yes, the bill will be fair to all!