Russia’s budding certified activities betting market is set to over double over the next five years, in accordance with a report by Bookmaker Ratings.
Growth is expected for Russia’s fledgling sports betting market because it seeks brand new techniques to block the black market.
Development are going to be driven by NEW entrants to your market, as more worldwide operators start to partner with domestic businesses, and also by high-profile sports based in Russia, like the 2018 soccer World Cup.
According to Bookmakers Ratings’ estimates, 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 Market
Russia enacted legislation to manage sports betting in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a period of transition from the illegal towards the licensed arena over the last year . 5.
But Bookmakers Ratings believes some 65 percent of on the web bettors still utilize the illegal market. ‘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 personal tax,’ it states.
Russia practices ISP-blocking both