Bookmakers’ SROs

Dmitry
Khlestkin

Bookmakers’ SROs (self-regulatory organizations) are non-profit organizations that unite bookmakers and betting houses. In Russia, membership in a SRO has been a mandatory requirement to a bookmaker’s license holder since 2014.

Contents

SROs are responsible for regulating the professional activities of the market participants beyond the framework of basic minimum requirements defined by a state law.

The functions of SROs include the development and adoption of common standards and adherence to them in the framework of professional activities.
SROs can represent the interests of its members in cooperation with public authorities and other market participants, to serve the interests of a consumer, settle the conflicts within the professional community.

The First SRO

The First SRO is headed by the Honorary President of a bookmaker Liga Stavok and the founder of the National Association of Bookmakers, Oleg Zhuravsky.

The members of the First bookmakers’ SRO of Russia may be legal entities engaged to act within the framework of a license issued by Russian tax administration.

Fees

Obligatory contributions to join the first SRO are the following:

Entry fee – 15,000 rubles (about £150)
Annual membership fee – 1,200,000 rubles (about £12,000)
Contribution to the compensation fund – 30,000,000 rubles (about £300,000)

The registered members of the SRO can be found here. Not all the companies in this list are operating bookmakers. The list of members of the First SRO that are operating bookmakers can be found here.

Bookmakers’ SRO

Bookmakers’ SRO is headed by the Director General at Bingo Boom Management Konstantin Makarov.

Obligatory contributions to join the Bookmakers SRO are the following:
Entry fee –  1,000 rubles (about £10)
Monthly fee – 75,000 rubles (about £750)
Contribution to the compensation fund – 30,000,000 rubles (about £300,000)
The registered members can be found here. Bookmakers’ SRO also has members that are for unknown reasons don’t carry out bookmaking activities. For example, there are companies created for sale, such as LLC William Hill (not related to William Hill PLC). The members of the SRO engaged in betting activities can be found here.

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