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Online Poker in Russia Tries to Come In Out of the Cold

Online Poker in Russia Tries to Come In Out of the Cold

No, he’s not starring in ‘The Nutcracker Suite,’ but Russia’s Vladimir Putin could be playing online soon poker. (Image: MIKHAIL KLIMENTYEV/AFP/Getty Photos)

The federal government of Russia is actively considering legalizing and managing poker that is online according to Russian business and politics daily Kommersant, hence opening a potentially huge market which may be worth $145 million annually in fiscal revenue alone.

The Russian daily book says that Russian First Deputy Prime Minister Igor Shuvalov has instructed the Ministry for Economic developing and the Ministry of Justice to compile a report on legalizing Internet poker, which will be due for consideration on July 21st. Kommersant stated that the given information had been given by unidentified sources within the government.

Moscow has apparently been swayed by certain fiscal projections, with some analysts claiming that on-line poker legalization could bring 2 to 3 billion rubles ($58 million to $87.5 million) to the state’s coffers per year, a figure which could potentially swell to exceed 5 billion rubles ($145 million) within five years.

The former figure is considering a model in which 1 to 1.5 billion rubles would be levied as a taxation on operators, with the same quantity from the players’ income tax. Whether Russia would adopt a monopolistic framework or an open market remains to be seen.

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It’s truly an about-turn from the country w