Russia’s budding certified sports market that is betting set to more than double within 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 methods to block the black market.
Growth is going to be driven by NEW entrants to your market, as more international 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’ estimates, Russia’s regulated market handles around 677 billion rubles-worth ($ 10.1 billion) of bets per year, producing 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 modify sports wagering in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a time period of transition from the unlawful to your arena that is licensed the past year . 5.
But Bookmakers Ratings believes some 65 percent of on the web 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 income that is personal,’ it states.