GVC Holdings’ sports betting brand bwin is set to enter Russia’s market in partnership with local operator Digital Betting, LLC. bwin’s .ru site is slated to begin accepting bets from Russian customers in the months to come.
Digital Betting is owned by Russian businessman Alexander Mamut. According to reports from local media, Mr. Mamut is planning to invest €10 million per annum over a three-year period. Such a massive scale investment may come as a surprise to many as Russia’s online sports betting market is estimated to be worth around €16 million.
Digital Betting received a license for the provision of online sports betting services in March 2016. However, it has not launched an online sportsbook operation so far. Unlike other licensed local operators, Digital Betting does not have land-based presence around Russia. This is believed to be the reason why the operator has sought a partnership with a major international company.
GVC Holdings, known to be bwin’s parent company, has not issued a statement on its subsidiary’s entry into the Russian gambling market. However, local media reported on Wednesday that GVC Head of Media Relations Jay Dossetter has confirmed the move. bwin has thus become the first major European operator to be entering Russia’s licensed gambling landscape.
It has also become known that Dmitry Sergeyev, who is currently CEO of Digital Betting, will also take bwin Russia’s helm.
bwin and its local partner are joining the handful of licensed online sports betting operators to be servicing Russian bettors, with some of the others being traffic leaders 1xbet (with 2.2 million monthly visits), Fonbet, and Liga Stavok.
GVC’s sports betting brand is entering Russia’s relatively young gambling market after more than a hundred bwin-related domains had been blacklisted in relation to an ongoing crackdown on illegal sports betting operations. bwin became part of the Isle of Man-based gambling group back in February 2016 as part of a more than £1-billion-worth acquisition deal.
As part of its efforts to establish itself on the Russian betting market, Digital Betting announced last year its membership into the First Self-Regulatory Organization of Russian Bookmakers. Comprised of some of Russia’s major sports betting operators, the organization aims to provide favorable conditions for all participants in the industry, that is operators, bettors, and the state.
It is still unknown when exactly bettors will be able to place bets on bwin’s Russian website. At present, the .ru website allows bettors to register so as to be informed when the wagering section will go live.
