Mikhail Degtyarev, a member of Russia’s Duma and Chair of the Duma committee on culture, youth affairs and tourism, has stated that the contributions from bookmakers for the improvement of youth affairs should be increased.
According to the Mikhail, Russia’s is grappling with the issue of fair deduction on bookmaking proceeds. In his opinion, 20 per cent as a contribution to the development of the affairs of the youth is not enough.
The proposed increase will encourage leagues to integrate into more sporting activities and see further cooperation between business structures and the federation. Mikhail believes that it is best to increase the proportions contributed by bookmakers to collect enough funding to help develop youth sporting affairs.
This announcement came during a round table dubbed Sports and Gambling that was held on the 14th of this month. The event attracted stakeholders from the Finance Ministry, the Federal Tax Service as well as bookmakers.
Currently, bookmakers contribute 5 per cent of their revenues towards the advancement of sporting affairs. From this contribution, 20 per cent is channelled towards youth affairs, while 80 per cent goes towards professional sporting activities. The law gives bookmakers the right to decide where the contributions will go.