Russia’s budding licensed recreations market that is betting set to more than double within the next five years, based on a report by Bookmaker Ratings.
Growth is expected for Russia’s fledgling sports betting market because it seeks new methods to block the market that is black.
Development will be driven by NEW entrants to your market, as more worldwide operators begin to partner with domestic businesses, and also 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 modify sports wagering in 2014, and thus, as Bookmakers Rating notes, the industry has experienced a period of change from the unlawful to your licensed arena over the last year and a half.
But Bookmakers Ratings believes some 65 percent of on the web bettors still use 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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