16.11.2017

Bwin Russia CEO positively comments on new gambling bills

Bwin Russia CEO positively comments on new gambling bills

The “Bookmakers Rating” edition talked to Dmitry Sergeev, CEO of Bwin, about two bills (No.1037957-6 and No.108659-7) recently adopted by the State Duma to regulate gambling business. In general, the betting shop treated them quite positively.

The entrepreneur believes that increasing taxation is quite predictable. He said that the previous betting shop tax of 7000 RUB was ridiculous for gambling business. However, Dmitry Sergeev also stressed that the new taxation would complicate the entrance to the Russian market, as business owners would have to earn pretty well in order to pay taxes.

Bwin Russia does not have any land-based betting shops, but the new policy will affect it as well. According to CEO’s estimates, the company will have to pay out more than 90mn RUB since 2018: 60mn RUB to the Ministry of Sport and 36mn RUB to the Federal Tax Service.

Dmitry Sergeev thinks that the bill prohibiting money transferring to illegal betting providers is a good idea but difficult to implement. He notes that to fulfill its conditions, one will have to thoroughly control the Federal Tax Service database and record all intermediaries providing services to illegal betting shops. Otherwise, this concept won’t bring favorable results.

 

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