The gambling and betting industry is among the most profitable and fastest-growing industries in the world making regulation of gambling activities at government level a necessary measure of control over revenues and taxes. New regulations adopted by authorities provide for various measures to restrict or support activity of online casinos and bookmakers.
China might outlaw foreign casinos
China might toughen penalty terms for establishment of casinos within mainland China. The Standing Committee of China’s National People’s Congress is considering an amendment to China’s criminal law that would criminalise the act of luring Chinese gamblers to overseas casinos. The legislation update also features higher penalties for the existing crime of setting up casinos within mainland China, where gambling is illegal.
Earlier, China announced its plans to establish a “blacklist” of cross-border gambling tourism destinations to discourage Chinese gamblers from going abroad.
It is worth reminding that Germany has allowed private and foreign companies to enter its gambling market.
Government assistance to residents of Kazakhstan to depend on their gambling winnings
The size of housing assistance will, among other things, depend on family income earned from gambling activities. This update was put forward in a draft order of the Ministry of Industry and Infrastructure Development of Kazakhstan.
- Kazakhstan is one of the most popular GEO in digital marketing. 3snet network has listed offers with the highest commission and conversion rates.
The amendment states: “To factor in income in the form of cash and (or) non-cash prizes received in contests, competitions (olympiads), festivals, lotteries, prize draws, including those held among deposits and debt securities owners, gambling games, and betting activities”. Once the amendment is approved, income earned from gambling and betting activities will be considered when making a decision.
Persons with gambling problems, at the same time, are identified as incapacitated and, therefore, are not entitled to housing assistance. Such cases, however, can only be decided by the court.
Betting in Russia might return to the shadows
Russian President Vladimir Putin has agreed with a proposal to increase required payments Russian bookmakers have to make to support Russian sports.
- A new law came into force in autumn 2020. Bookmakers and totalisators in Russia have to play by new rules.
Russian Finance Minister Anton Siluanov suggested changes to the structure of these payments and measures tightening control over these resources. Bookmakers now pay 5% of their revenue generated from each sport to that sport’s federation, with a minimum of RUB15m paid quarterly.
This decision might seriously affect the betting industry in Russia, the Deputy Director General at “Liga Stavok” Sports Betting Company Igor Stolyarov commented on the situation. Any increase in required payments, whether it be 10% or 15%, will force bookmakers to “creatively get out” that will probably “ruin all efforts of turning the industry into a fully legal one”.
Online gambling is legal in Cambodia
Cambodia’s National Assembly has approved a draft law on commercial gambling management.
The new law is aimed to tighten the government’s control over the commercial gambling sector as well as to boost economic growth and promote the tourism sector. Among the regulatory controls set to come under the new law are the implementation of clearly designated gambling zones, establishment of minimum investment requirements for gambling operators, tax rate of 7% on GGR, plus anti-money laundering and terrorism financing mechanisms.
The new law will expand powers of law enforcement and fiscal authorities and clearly define legal and illegal gambling activities.