Bwin to launch Russian online betting platform
Sportsbook operator Bwin has announced that it will launch an online betting platform in Russia, in what would be the first legal entry by a major international bookmaker into the emerging regulated Russian sports betting market.
The business will partner with local businessman Alexander Mamut, owner of Russia-licensed bookmaker Digital Betting LLC and online media company Rambler & Co which operates several news websites in Russia.
It will see the creation of a Russian division of Bwin and the creation of an accompanying Bwin.ru online platform servicing Russian bettors.
GVC spokesperson Jay Dossetter and Digital Betting CEO Dimitry Sergeyev confirmed the news to local news outlet Kommersant along with confirming the appointment of Sergeyev to the role of Bwin Russia CEO.
Under the terms of the partnership Digital Betting LLC will provide up to €10m per annum of funding to the project over the next three years, while Bwin will provide its technological infrastructure and branding to the project in return for a percentage of the potential profits generated by the new platform.
The Russian online sports betting market is one of the most tightly regulated markets in Europe, with media regulator Roskomnadzor notably blacklisting a number of international online betting operators, including over 100 Bwin related domains from operating in Russia in 2015.
It also has the ability to issue fines to operators that it deems to be contravening regulations.
Digital Betting LLC received a Russian betting licence in March 2016 and is a member of the Self Regulatory Organisation of Russian Bookmakers, with this partnership representing the next step in its aim to create an online sports betting website in the Russian market.
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