Vadim Dengin. Source: Obninsk.Name

Russian Authorities Propose Limits on Bookmakers' Losses

The Federation Council in Russia has put forward a proposal to establish maximum allowable loss limits for individuals participating in bookmakers. Vadim Dengin, a member of the Federation Council specializing in budget and financial markets, highlighted the lack of awareness among many Russians regarding the potential risks associated with gambling.

Dengin stressed the importance of state intervention in this matter, particularly since businesses may not prioritize consumer protection. He emphasized that setting betting limits should be tailored to individuals' official income levels. Dengin believes that such measures would enable individuals to have confidence in the amount they can afford to lose.

The senator also highlighted the need for more comprehensive social advertising and clearer explanations about how sports betting operates in Russia. The Ministry of Finance is already taking steps to address this issue by requiring bookmakers to educate Russians about the risks associated with betting.

10 April 2024, 10:40

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