Russia Goals For Fee Processor as 2020 Playing Visitors Falls 30 P.c

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The online sports gambling operators of Russia’ have started off 2021 just like they ended last year. They spent so much time under several attack.

This Monday, the government of Russia released the betting regulation signed into law by Vladimir Putin the President of the country on December 30.

Officially, the publication starts the countdown (270)-day for the launch of a new Unified Gambling Regulator. This officially assumes overhauling of the gambling market in Russia on October 9.

The latest law calls for a 1.5 percent tax on every online bet, with the collected funds expected at help fund Russian sports bodies.

The tax will be removed by the centralized payment processing hub that’ll replace the 2 current hubs operated by the 2 rival bookmaker in. As it seems, they both are slated for closure.

To make sure no online bets are processed in other ways, Russia has released several warnings to local firms. The Central Bank of the Russian Federation, this week, ordered YuMoney – the Sberbank owned payment service previously known as Yandex.Money – to stop all transactions between foreign-based companies and Russian locals. The move comes after an audit of the activities of YuMoney by the Central Bank.

a comparable suspension happened in December which also come with a hefty fine of RUB11 million (US$150000. This was levied on Qiwi Bank of Russia. Prior to that time, it was a common method for Russian bettors to fund online betting activity with betting websites licensed internationally. Most of them operate using the same brands just like Russian-licensed bookmakers.

The online gambling operators of Russia were not exempted to the suffering caused by 2020’s pandemic lockdown on all sports activity. However, unlike their international competitors, they had no poker offering or online casino to make it easier to survive. These activities are prohibited in Russia.

According to data from New SimilarWeb, it shows that last year’s traffic to Russian-licensed gambling websites reduced by ¼ from 2019 falling to 311.4 million visits. Fonbet which is the market-leader reported 89.2 million visits in 2020. This is a fall of 30 percent year-on-year, while Winline which is a distant runner-up fell 36.8 million but managed to increase by 0.6 percent year-on-year.

Liga Stavok fell by 34.3 million, -21 percent as it ranked third, this was followed by BetCity with 32.9 million, -10.3 percent and PariMatch 23.4 million, -7.5 percent to complete the top-five.

Source: https://calvinayre.com/2021/01/15/business/russia-targets-payment-processor-online-betting-traffic-falls/