Bookmakers’ deductions for the Russian Chess Federation amounted to 8 million rubles for 2020

In 2020, Russian bookmakers paid 7.9 million rubles to the Chess Federation of the Russian Federation in the form of earmarked contributions. Most of the money received is for the use by the federation of the symbols of 17 bookmakers. According to the legislation, 80 percent of the funds received by the chess federation will be directed to the development of professional sports (995.8 thousand rubles). The remaining 20 percent (248.9 thousand rubles) will go to the development of youth sports. Another item in the fee structure is related to news reports about sports. Last year, there were 11 such agreements with bookmakers. All funds in the amount of 6.7 million rubles will be directed to the development of youth sports. It should be noted that bookmakers pay deductions to sports leagues and federations for all competitions for which they accepted bets. As My Lucky Story previously reported, several Russian sports federations came up with a proposal to change the system for distributing bookmakers’ deductions. We add that the initiators, in particular, believe that the sports organization should receive income from the accepted rates of bookmakers on the results of competitions organized by the federation in this sport. Earlier, in 2019, the government of the Russian Federation developed a law on the creation of a complete list of events on which bookmakers will be able to accept bets.