Election bets: officials explained why they’re not allowed

Election bets: officials explained why they’re not allowed

The Ministry of Finance of the Russian Federation explained the essence of the new bill, prohibiting betting on the election results. As the officials explained, this regulation is not connected to the upcoming presidential campaign; in addition, it describes other events, which are not allowed to be bet on. Alexei Moiseev commented to the Interfax publication.

As explained by the Ministry of Finance, the law is unlikely to be adopted before March 18, 2018 – the date of presidential election in Russia. Therefore, the election is not the reason for drafting the bill.

Alexei Moiseev noted that it was important for officials to determine the range of events betting on which is allowed, since this uncertainty was used by the organizers of the underground gambling business: they accepted bets on events generated by slot machines. That is why the area of betting subjects is now clearly defined. The election is not in this area, just like a lot of other things.

The list of events allowed includes sports competitions, official horseraces and show industry events in live broadcasting. People can also bet on the results of any voting, elections, referendums and related events that are not held in Russia. Bets on the election in the Russian Federation during the electoral campaign will be punished with a fine of up to 50,000 rubles.


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