Russian Federation casinos and gambling
Gambling and casinos are quite prevalent in Russia as in any other part of the world. Here is an overview of the industry in this part of the world.
Current Russia Casino Situation:
Russia's casino market is considered to be a wide-open one with little regulation and no dominant competitors so far. Many casinos have not made inroads into Russia, mainly due to the factors that it has a reputation for organized crime and casinos worry about risking lucrative gaming licenses in Nevada and other states. However the unregulated environment in Russia has led to a significant rise in the number of slot locations over the past few years. Today there are machines at neighborhood groceries and convenience stores too. However gambling tax on slot machines may be doubled and the taxes on gambling tables and bookmaking offices may be increased by 25%.
The future of Gambling in Russia
Many analysts are today betting, that not just Macau and Singapore, but Russia may soon become the most popular place for gambling and casinos. This is because; it is the world's second largest country by population and enjoys an all-cash culture that favors spending over the saving habit. It may thus soon rival Asia as the best place for gambling. Analysts also predict that it will be one of the most dynamic gaming market over the next three years. However all this depends largely upon how laws are framed and upon the mindset of the people and the government. Slot machines, both legal and illegal are bound to grow in popularity and players need to be aware of the legal ones.
Current Legislation and Gaming Laws in Russia
The Russian government is debating gaming laws and it is still being considered as to which gaming laws could be passed and approved by the President. It is much in the hands of the law and legislation that limits the number of gambling licenses and establishes minimal capital requirements could slow the rate of expansion. Also as there is no way to test the laws, a little government oversight or a low tax rate could lead to other conditions. People benefiting from gambling may experience difficulties also, as the Russian authorities, mayors, parliamentarians and various politicians, are launching a fight against the gambling industry through anti-gambling attacks. These have already begun in Russia's major cities, such as Moscow, St.Petersburg, Volgograd, etc. Religious organizations and public authorities are also opposing parlors.
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