Legal Gambling in Russia a Reality
30 Mar 2006
Russia gearing to pass a bill which would legalize most forms of gambling. The gambling bill passed the first reading in the lower house of parliament on Friday. The Russian government is pushing forward a very pro-gambling bill that could change the face of the gambling and casino industry in Russia. The bill, which was passed in the first reading in the Russian lower house of parliament on Friday, calls for the government regulation of gambling.
Russia is taking its lead from other Western European countries, primarily England, which is pushing for the regulation of gambling. The logic of the regulation of gambling is ultimately beneficial to all, the government is arguing. It is clear that the industry exists and gambling is not going to simply go away because it is illegal. The government proposes to legalize all gambling activities in the country - casinos, slot machines and bookmakers' offices. The bill would ban unlicensed establishments and calls for the consolidation of all gambling businesses under the new regulation law.
The gambling bill went through with 300 votes in favor and 105 opposing, and one abstention. The bill, proposed by the United Russia party, requires gambling establishments to have net assets of at least 600 million rubles ($22 million) and the win percentage of a slot machine to be no less than 80%. If the gambling bill gets passed it will change the entire gambling and casino industry. In turn it could also encourage other Eastern European countries to follow suite.
