Reports RUSSIA - MARKET UPDATE
Another operator, Vulcanbet, also announced its withdrawal from the market at the beginning of this year citing the new gambling regulation as the cause and saying it wanted to focus on markets with “more loyal conditions for the betting business,” whilst
23bt.ru voluntarily surrendered its licence in early 2021. Vulcanbet began to accept bets in Russia in June 2019.
Dmitry said: “We collated the cost of operations in Russia to estimate the costs to operate in the legal online market. Te spend is around €3m a year. Tis is one of the biggest taxes in Europe. In Greece we have €1.25m, in Russia we have €3m. Tis is taxes, contributions and warranties. You are spending €3m a year and it means all of the small players are closing down. So the minimum GGR is around €1m per month to at least break even without the big marketing expense.
“I think less than 10 companies make that right now, because the price for advertising is also very high in Russia and because of some regulations you cannot advertise everywhere, not on TV for example. Tere are a lot of restrictions, which means that we can’t use the networks at all because of the regulation and there are restrictions on the players on the market.”
Advertising is permitted to licensed operators, but there are a range of restrictions to protect minors. TV advertising is allowed from 10pm until 7am, in gaming establishments or via designated print media. Sports betting advertising is allowed during sports broadcasts if it constitutes no more than 20 per cent of all advertising during a broadcast. Some online advertising is permitted across online sports media sites.
Another operator, Vulcanbet, also announced its withdrawal from the market at the beginning of this year citing the new gambling regulation as the cause and saying it wanted to focus on markets with “more loyal conditions for the betting business,” whilst
23bt.ru voluntarily surrendered its licence in early 2021. Vulcanbet began to accept bets in Russia in June 2019.
P252 WIRE / PULSE / INSIGHT / REPORTS
Not everyone is deserting the sinking ship. Bet365 recently started operations in Russia with an office managed by Golden Bet LLC, which is part of the SRO BK association. Golden Bet was registered and licensed for bookmaking in Russia in 2018 and is owned by Onyxion BV (Curacao) and
Bet365.ru launched in mid- March. Te founders of Golden Bet are also the founders of Star Bet LLC which owns the BingoBoom trademark.
Te company was ready to launch in Russia back in 2019 but this was delayed until 2020 when the pandemic railroaded any new company launches at that time.
EveryMatrix also entered the Russian market in January with
888.ru. EveryMatrix will supply the bookmaker with a turnkey platform and full suite of products adapted to comply with Russian legislation. More than 100,000 users were migrated to the new platform as part of the launch.
Ebbe Groes, Group CEO of EveryMatrix, commented at the launch: “Te
888.ru collaboration is the first major deal for this new version of our sportsbook and we will be investing heavily into making
888.ru a leading brand in the promising regulated Russian market. We see many more business opportunities for our partnership in the future.”
A survey conducted by SimilarWeb analytics in the US named the most visited bookmaker sites in Russia as FlashScore (15.13 million users in February 2021), followed by Fonbet (7.31 million users) and BC Winline with just over four million users that same month.
In January 2021, the top three bookmakers were
Fonbet, Winline and Betcity, whilst traffic to legal bookmaking sites saw a total of 31.02 million visitors in January 2021.
Fonbet was founded in 1994 and launched the site for online betting in 1998. In 2009, it received its licence in Russia.
A study by
bookmaker-ratings.ru indicated 7.9 million people made at least one bet on sports in the year 2019 and 3.4 million made bets regularly (at least once a week).
A chart compiled by Dmitry Sergeev at Parimatch shows the online deposits and offline bets of the
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