With the high-profile sporting events based in Russia, like 2018 soccer World Cup and International Operators likely to partner with the domestic company, Russia’s licensed sports betting market is all set to more than double over the coming five years, as per Bookmaker Ratings.
Russia’s regulated market deals with a 677 billion ($10.1 billion) rubles worth of bets every year and making 47 billion rubles ($70 million) with the market value to grow in the five years and hence is expected to grow to 1.4 trillion rubles ($22.4 billion)
2014 saw the legislation regulating sports betting and ever since it has been transitioning from illegal to the licensed arena with some 65% of total online bettors still using the illegal market.
The Russian government is taking stern measures to make it difficult to access unregulated sites from within Russia because of which a Bill is being introduced that would prohibit the use of virtual private networks (VPNs) and force internet service providers to block such sites. This measure was the result of the black market stunting the growth of the young market.