Russian Sports Betting Market Expected to More than Double by 2022

Russian Sports Betting Market Expected to More than Double by 2022

Russia's budding certified recreations wagering market is set to over double within the next five years, according to a report by Bookmaker Ratings.

Development is expected for Russia's fledgling sports betting market since it seeks brand new techniques to block the market that is black.

Development is going to be driven by NEW entrants towards the market, as more worldwide 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' quotes, Russia's regulated market handles around 677 billion rubles-worth ($ 10.1 billion) of bets per year, generating gross 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 regulate sports betting 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 . 5.

But Bookmakers Ratings believes some 65 percent of on line bettors still use the market that is illegal. '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 personal tax,' it states.

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