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 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 new techniques to block the market that is black.

Growth are going to be driven by NEW entrants towards the market, as more operators that are international to partner with domestic organizations, and by high-profile sports 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 per year, creating gaming that is gross 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 Marketplace

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

But Bookmakers Ratings believes some 65 percent of online bettors still use the market that is illegal. ‘The main obstacles to your transition of players to the Russian legal bookmakers, are the complexity of identity verification and desire of players to avoid playing personal tax,’ it states.

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