Online gambling has been illegal in Russia since 2009, but because of the growing budget deficit brought by on going war against Ukraine, officials are proposing to legalize online gambling.
But even if online gambling is illegal, the industry still made a $39 billion profit; just imagine the profit from taxes it would make if gambling were legal.
What do you think, will Putin allow the legalization of gambling just to sustain the economy, and sustain the war against Ukraine
In an effort to bolster state revenues amid a growing budget deficit, Russian Finance Minister Anton Siluanov has proposed the legalization of online casinos. The plan, presented to President Vladimir Putin, aims to provide a new source of income to offset the rising costs of the war against Ukraine. Siluanov’s suggestion, reported by Kommersant, aims to draw illegal online gamblers into the legal market, while also introducing stringent safeguards to curb addiction.
Russia Considers Legalizing Online Casinos Amid Financial StrainThe example of Russia, a terrorist state, is not very good. But yes, the totalitarian-terrorist regime of the Kremlin is forced to take any steps necessary to continue its terror. But that's a separate story, and more appropriate for discussion in the politics section.
In normal countries, there are examples of complex situations (natural disasters, the aftermath of war, etc.) where the gaming business was used as an additional stimulus for the economy (rather than to finance terrorism, as in the case of Russia).
Examples:
Macau
After the decline of traditional trade and manufacturing at the end of the 20th century, the region bet on casinos.
In 2001, the gambling market was liberalized, international operators arrived, and Macau became the world's largest gaming hub, surpassing Las Vegas in terms of revenue. This is a classic example of a mono-economy based on gambling as a response to a structural crisis.
Singapore
After the Asian financial crisis of 1997–1998 and amid intensifying competition for tourists, the government decided on a previously taboo solution.
In 2005, integrated resorts with casinos were permitted. The result was growth in tourism, taxes, and jobs, accompanied by strict social control (high entrance fees for citizens).
Philippines
Chronic budget deficits, a weak industrial base, and frequent natural disasters prompted the state to expand the gambling sector.
Through the state-owned corporation PAGCOR, gambling became a quasi-fiscal instrument—a source of direct revenue for the budget.
Georgia
After the collapse of the USSR, military conflicts, and the economic collapse of the 1990s, the country actively legalized casinos and bookmaking.
The goal was simple: to attract money and tourists, especially from neighboring countries. For some time, gambling really worked as a quick source of currency, until the social costs became too noticeable.
Cambodia
After decades of war and a ruined economy, the government allowed casinos in border areas.
The focus is on foreign players (Thailand, Vietnam, China). For the country, this was one of the few ways to quickly attract capital without complex industrialization.
Japan
After decades of economic stagnation and especially after the 2011 disaster (earthquake and Fukushima), the topic of casinos ceased to be taboo.
In 2018, a law on integrated resorts was passed. The logic is transparent: tourism + investment + taxes as support for the economy of the future.
As analysts write:
Gambling is being legalized not because of a "change of heart on morality", but because:
- it is a quick source of tax revenue
- it does not require lengthy R&D and industrial cycles
- it is easy to sell as ‘tourism’ and “entertainment”
- it works well in countries with limited alternatives
