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Russia Set to Block Online Gambling Payment Processors

2015-02-02 00:00:00

Gamblers in Russia who want to play online are going to have a much harder time doing it. Russia is establishing a new portal that will block players from sending money to illegal sites. And in Russia, any form of gambling is considered illegal unless it takes place in designated areas within the country. A number of big online gambling firms have already pulled out of the Russia market and some others, like PokerStars and Party Poker are looking at their options.

Russia is taking steps that will make it extremely difficult to send and receive money from operators that are not licensed in the country. The payment processing will be through one portal with any unsanctioned operators being denied. Russian banks and other payment processors would also have to stop processing payments to online gambling sites that are not included in the Self-Regulatory Organization of Russian Bookmakers.

While the country is trying to get rid of online gambling, they hope to take huge steps with their land-based casinos. Russia is building a gambling zone in the Primorye which they hope to turn into a mecca that will lure wealthy Asian and Russian gamblers and other tourists. More than $2.2 billion has been invested in the venture. The first hotel and casino is expected to open in May. The Primorye gambling zone is expected to have as many as 16 hotel-casino complexes.