Russian Sports Betting Market Expected to More than Double by 2022

Russian Sports Betting Market Expected to More than Double by 2022

Russia’s budding licensed activities market that is betting set to significantly more than double over the next five years, in accordance with a report by Bookmaker Ratings.

Development is expected for Russia’s fledgling sports betting market as it seeks brand new methods to block the market that is black.

Growth are driven by NEW entrants to the market, as more worldwide operators begin to mate with domestic organizations, and also by high-profile sporting events based in Russia, like the 2018 soccer World Cup.

According to Bookmakers Ratings’ quotes, Russia’s regulated market handles around 677 billion rubles-worth ($ 10.1 billion) of bets each year, generating gross gaming revenues of 47 billion rubles ($70 million).

Over the next five years, volume is expected to grow to 1.4 trillion rubles ($22.4 billion), suggests the site, more than a 120 percent increase.

Fighting the Black Market

Russia enacted legislation to manage sports wagering in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a time period of transition from the illegal towards the arena that is licensed days gone by year and a half.

But Bookmakers Ratings believes some 65 percent of on the web bettors still use the market that is illegal. ‘The main obstacles towards the transition of players to the Russian legal bookmakers, are the complexity of identity verification and desire of players to avoid playing income that is 阅读更多