Legalizing online casinos in Russia would create new business opportunities and boost the economy, says a leading industry insider.
The comments came from Petr Kipa, formerly the head of marketing at the gambling operator BetBoom in Russia and the ex-head of BetBoom LatAm, reported the Russian media outlet Championat.
Kipa said: “[Legalized online] casinos would be a breath of fresh air. We should let people and businesses enjoy easy access to licensed products.”
He said customers and operators would be happy to pay “the same price, or even double” the prices they currently spend on illegal online casinos if a legal alternative were available.
All online casino platforms are currently illegal in Russia. But the Ministry of Finance has proposed regulating the sector instead. The ministry wants to tax operators at 30% of their profits per year, minus winnings payouts.
Kipa said it would be “easy” for operators to adapt their business models to the ministry’s regulation plans.
And he suggested overseas-based operators would flock to Russia if lawmakers approve the proposal.
“This would be a whole new business sector for Russia,” said Kipa. “iGaming providers will emerge and start operating here. We know they exist. Some of them are already operating [in nearby countries] such as Georgia, Armenia, Latvia, and Lithuania.”
Legalizing Online Casinos: Ministry’s Controversial Proposal
The ministry’s plan has drawn criticism from a range of prominent groups, including the Russian Orthodox Church and opposition lawmakers.
In recent days, lawmakers have approved a draft law that proposes letting regulators and law enforcers fast-track blocking orders for illegal online casinos.
In the meantime, Russian police continue to hunt online casino operators.
In the Voronezh Oblast, investigators have arrested a 35-year-old man and his 31-year-old sister. The siblings operated an online casino they built during the coronavirus pandemic, police said.
The regional branch of the Investigative Committee has submitted its case to a district court, with the duo set to stand trial in the weeks ahead, the Russian media outlet Obozrevatel Vrn reported.
Police say the unnamed pair used “simple” home computer equipment and their mobile phones to build a mobile casino app from scratch.
Investigators say the duo launched the app in 2022. If they are found guilty, the court can jail the suspects for up to 4 years.
