Putin: Bookies, Pay Up

Sun, Jan 3, 2016

Russian President Vladimir Putin wants bookmakers to help pay for national sporting events. His plan, which has the support of Russian football leagues, would include sponsorships akin to those in the U.K.

Action comes in run-up to FIFA World Cup

Vladimir Putin says Russian bookmakers have a responsibility to underwrite that country’s sporting events.

According to the government-funded news agency Russia Today, the president of the former Soviet Union will seek licensed bookmakers to sponsor and fund national sporting events. New laws are “set to be introduced by mid-2016,” reported RT.com; they are reportedly being considered now as the country prepares to host the FIFA World Cup in 2018.

Leonid Fedun, owner of Spartak Moscow FC, spoke for the industry in supporting the initiative. “Let’s look at the British Premier League, where every second team has a bookmaker as sponsor,” Fedun said. “The bookmaking business is booming. People spend a lot of money on bets—some of that money could be given to football clubs.”

Russia now has 25 registered bookmakers.

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