Russia’s budding licensed sports gambling marketplace is set to significantly more than double over the next five years, based on a report by Bookmaker Ratings.
Growth is expected for Russia’s fledgling sports betting market as it seeks brand new practices to block the black market.
Development will likely be driven by NEW entrants to your market, as more worldwide operators begin to mate with domestic businesses, 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 gross video 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 gambling in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a time period of change from the illegal to your licensed arena over the past year . 5.
But Bookmakers Ratings believes some 65 percent of on line bettors still use the unlawful market. ‘The main obstacles to 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 personal,’ it states.
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