Russia online payment law takes effect

The law banning Russian credit institutions and any payment systems working on Russian territory from transferring money from individuals to illegal bookmakers, casinos and totes has come into effect in the run-up to the World Cup.

The law was signed by Russian President Vladimir Putin back in November 2017. It officially entered into force on 27 May.

The blacklist of prohibited gambling resources will be published and regularly updated on the official website of the Russian Federal Tax Service. It is not yet been detailed how the Tax Service will track illegal bookmakers and lotteries.

The Federal Tax Service also earlier admitted that it does not have statistics on the volume of transfers to illegal bookies and totes.

In fact, all online casinos, bookmakers and lotteries based outside Russia and providing services to Russian citizens via the internet fall under the new law.

From now on any individual in Russia may face difficulties while trying to transfer money to an illegal online casino account via a bank card or a payment system (such as Webmoney or Paypal).

There is about a dozen of bookmakers officially operating in Russia and receiving payments via TSUPISes online gambling processors, required by the Russian law.

 

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