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Russian Sports Betting Market Expected to More than Double by 2022

Russia’s budding licensed recreations 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 since it seeks brand new techniques to block the black market.

Growth are driven by NEW entrants towards the market, as more worldwide operators begin to mate with domestic businesses, and also by high-profile sporting events 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 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 Marketplace

Russia enacted legislation to modify sports gambling in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a time period of transition from the unlawful to the licensed arena over the last year . 5.

But Bookmakers Ratings believes some 65 percent of online bettors still utilize the illegal 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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