Gambling news digest March 4-10

The legal entity of the bookmaker Astrabet changed its name, and the League Betting office had changes in the list of founders. At the same time, the largest Russian bookmaker was fined for improper advertising, and the company with a dormant license recorded millions of losses. Whether PokerStars really bribed the Russian officials to lobby for their interests, why the Russians can no longer conduct transactions in euros and dollars on the Binance platform, and what term will face miners in Russia for concealing their income under the new bill – read the digest Login Casino March 4-10.

The legal entity of the bookmaker Astrabet has changed its name. Previously, the office belonged to Sportradar LLC. Now the company, which owns the famous bookmaker’s brand in Russia, is called Bet-M. Constituent documents were officially changed on March 9, and information about this is in the official register of the Unified State Register of Legal Entities. Recall that in October 2021, 100% of the company’s shares are pledged to the legal entity BK 1хStavka and since the autumn of 2022 there are technical works on the official site of the bookmaker. Accordingly, the office does not accept bets and the prospects of its return to the Russian gambling market remain unclear.

There have been changes in the list of founders of one of the largest bookmaker’s offices in Russia. The list of founders of the company PMBC, which is a legal entity of Liga Stavok, was extended by a new person – Avdeev Igor Vladimirovich. This information has already appeared on the USRLE platform. According to the official information Avdeev owns 15% stake in the company. In money terms the stake of the new founder amounts to 46.13 million rubles. It is noteworthy that Igor Avdeev received his share from Alena Avdeeva who left the founders of PMBC.

A bookmaker’s office was fined by the Ingush FAS of Russia for improper advertising. Despite the fact that Russian law prohibits operators of gambling games to use images of animals or people in their advertisements, the bookmaker neglected these requirements. Liga stavok used the image of a woman to promote its services and launched an active advertising campaign on its website. This caused the discontent of the Ingush FAS.

The agency issued an order to stop the advertising campaign. However, Liga Stavok disagreed with this decision and appealed to the Arbitration Court of Ingushetia, arguing its position with the fact that the advertising in the mobile application is not designed for a wide range of people and only interested registered users can see it. However, the court found that the advertisement still appears not only in the application, but also on the bookmaker’s website. On this basis, the court confirmed the violation of the law, and even the appeal filed by the bookmaker was not satisfied. Now League Stakes is facing a serious fine for violating the law On Advertising.

The U.S. Securities and Exchange Commission announced that Flutter Entertainment is willing to pay $4 million in compensation for violating U.S. securities laws. The violation is attributed to a subsidiary of Flutter Entertainment – PokerStars.

As the investigation revealed, during 2015-2022, PokeStars was the only poker player in the world. PokerStars paid Russian officials $8.9 million to lobby for the legalization of poker in Russia. The payments were used to make annual gifts to individuals, which included Russian officials and members of the state apparatus. The money was also used to reward Roskomnadzor consultants in charge of Internet censorship. Notably, Flutter Entertainment did not deny the charges, but it did not admit its guilt directly. However, it agreed to pay compensation and also undertook to stop interacting with Russian officials.

We are talking about the company Panorama, which since 2011 holds a dormant license to organize gambling in Russia and is a member of the First SRO. The company published financial statements for the year 2022, recording a revenue of 85 thousand rubles. This figure is four times less than the revenue in 2021. It is noteworthy that the company’s loss also decreased, reaching 127 million rubles.

The largest cryptocurrency exchange, according to the tenth package of the European Union sanctions, introduced a number of new restrictions that will affect Russians. According to the new rules, Russians, as well as other individuals who live in Russia, can not buy or sell dollars, euros on the p2p-platform of the exchange. In turn, EU citizens no longer have access to ruble transactions on Binance. At the same time, users from Russia and Europe still have access to transactions in other fiat currencies.

The Ministry of Finance of the Russian Federation introduced a provision on criminal liability into the bill on regulation of cryptocurrency mining. According to the new provision, miners are obliged to provide to the tax authorities all information about the mined digital currency. Moreover, if a miner for three years, two or more times failed to declare the income of more than 15 million rubles, he will not only be fined up to 300 thousand rubles, but also jailed for up to two years. If the amount of hidden income is more than Br45 million, the term of imprisonment may rise up to four years and the fine – up to Br2 million. Also the violators can expect forced labor for up to two or four years respectively.

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