Russian President Vladimir Putin has signed the law which regulates the entry into force of the norms of the United Gambling Regulator (ERAI). The website of the State Duma informs that certain provisions on ERAI enter into force on September 1, 2021 and become common since October 1, 2021.
- All you want to know about ERAI: what it is, how it will work, how it will affect organizers and players.
Earlier (in June 2021), the government announced the members of the ERAI.
- Alexey Grachev has been appointed as a head for a five-year term. Prior, he was the head of LLC “Sport and Fatherland” (the founder-ANO “Center for the Progress of Boxing”).
- Alexander Khristoforov, Deputy Director of the Financial Policy Department of the Ministry of Finance, has been appointed Chairman of the Supervisory Board.
- The members of the supervisory board were representatives of the Russian Boxing Federation (FBI) Kirill Shchekutyev and Oleg Saitov. According to the Charter, all persons have been assigned to the Supervisory Board for 3 years.
We shall remind you that the decision to form a Single Gambling Regulator was discussed and approved in December 2020. In accordance with the legislation, ERAI, as a public law company, has received the right to work with the main deductions received from organizers of gaming business. The deductions are used to support national sports, sports leagues and federations. For example, in the first quarter of 2021, bookmakers legally operating in Russia paid 1.85 billion rubles of mandatory target deductions. The leaders among the BC in Russia were “Fonbet”, Winline, “1xStavka”, “Liga Stavok” and “Parimatch”. According to the results of 2020, Russian bookmakers gave a total number of 2.25 billion rubles, and according to the results of 2019-1.15 billion rubles of targeted deductions. And by 2025, bookmakers around the world will have reached record profits!