Liga Stavok is the first Russian bookmaker to announce it has signed agreements with the VTB United League and Russian Basketball Federation in full compliance with the new legal requirements of the Russian Federation.
The agreement, which deals with the use of logos and naming of sports events, determines the nature of cooperation between Liga Stavok and organizers of the VTB United League Championship and All-Russian basketball competitions between men and women’s teams.
Reaching such agreements was made necessary by the introduction of a new law on April 1 on special allocations for sports, signed by Russian Federation President Vladimir Putin.
In accordance with the requirements of the new law, bookmaking organizations must contribute 5% of profits for sports development to organizers of sports events on which they accept wagers.
Liga Stavok, in partnership with First SRO; was one of the biggest public proponents of adopting the law and was actively involved in developing the legislation at each key stage.
From the day the law took effect, Liga Stavok was the first bookmaking company to send signed agreements to All-Russian sports federations and professional sports leagues, which hold sports events.
“It’s nice that the bookmakers responded so quickly to the new innovations, – noted VTB United League general director Ilona Korstin. – We are ready to work together to develop professional standards for cooperation and be an example for other participants in the market.”
In the words of Russian Basketball Federation President Andrei Kirilenko, another step has been taken toward establishing civilized mutual relations between participants in the sports community.
“Open dialogue with authorities and unswerving adherence to legal requirements: That is the principle behind our work, laid down by Liga Stavok founder and honorary president Oleg Zhuravsky. From the day the law took force, we began working together with organizers of major sports events in Russia. We’ve made a start,” – summarized Liga Stavok President and First SRO head Yuri Krasovsky.
