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Vladimir Putin signed Federal Law On Amendments to Certain Legislative Acts of the Russian Federation with Regard to the Creation of Mechanisms for Increasing the Income of Children’s and Youth Sports and Professional Sports Organisations.
The Federal Law imposes on organisers of gambling in bookmaker’s offices and betting on sports events the duty to conclude agreements on the use of symbols and names of sporting events with professional sport organisations, namely, national sports federations and professional sports leagues organising sporting events in respect of which bets are accepted, and to implement targeted deductions from gambling based on these agreements.
Twenty percent and 80 percent of the total amount of targeted deductions from gambling will be directed to the development of children's and youth sports and professional sports, respectively.
March 28, 2017