Russia to Monitor Gambling Transactions

Published on 25 January 2015 by Rhi

Russia to Monitor Gambling TransactionsOnline gaming all over the world is a volatile subject with many countries having hugely varying opinions on it, it’s effect and how it should be managed. Widely within the EU gambling is legal and considered a fun past time and hobby, albeit one which must be strictly monitored and regulated. In some countries however, such as Russia, the law outright bans online gaming of all kind. In fact, all kinds of gambling in Russia is illegal, both online and land based, except in four different regions where land based gaming is permitted.

However, online gaming in Russia remains rife, as many Russians enjoy spending their time playing on online casinos. Until now it hasn’t been well regulated by Russia who have continued to struggle with getting this area of the internet under control, and in recent years they have dedicated time to developing an effective regulation and control system, which should be announced and in place shortly.

Russia is home to a National Association of Bookmakers, the present of which is Yury Fedorov who has hinted that the government in Russia are keen for the implentation of a regulated framework as they want to use this regulation in order to monitor financial transaction and activity. It is believed that part of the regulations will enforce online casinos operating in the country to integrate with a payment platform built in and monitored by the Russian online gaming regulator. This will make distinguishing legal from illegal online casino transactions much easier for the government, so they can bring those operating illegally to justice.