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Jul. 01, 2009

Some are surprised that nation follows through with dramatic ban, which includes Internet gambling

July 1, 2009 (CAP Newswire) -- Apparently many gamblers in Russia are a bit surprised that the Russian government has followed through with its threats to ban gambling in all but the most remote areas of that nation.

The idea began with ex-President Vladimir Putin in 2006 — the same year U.S. passed its own anti-gambling law, the UIGEA — as a measure to cut down on vice in the Russian nation. Since the ban was proposed when the country’s economy was much stronger due to oil exports selling at a higher price, many expected that the idea would be revoked in the years since, as the country’s economy has, like many other economies in the world, shrunk considerably.

No dice, however. The gambling ban is now being enforced, and about $2 billion in taxes each year is the expected loss.

And the ban includes not only land-based casinos but all Internet gambling, according to Gambling Online Magazine. Read more about that here.