GVC plans Russian sports betting move

High taxes and a restrictive regulatory regime in Russia have not discouraged the GVC online gambling group from backing its subsidiary Bwin’s entry into the Russian sports betting market in  partnership with wealthy Russian investor Alexander Mamut.

With a mid-November launch scheduled under licensing held by Mamut’s Digital Betting company, Bwin Russia is reportedly already accepting player registrations and lashing out GBP 1.31 million in sign-up incentives.

Bwin will be the first foreign operator into the regulated Russian market since online sports betting was legalised two years ago. There are currently ten major Russian online bookmakers in the space, making for a competitive environment, but GVC has done its research and is confident of success.

Mamut is a valuable local partner, committed to investing Euro 10 million a year in the project and providing the news aggregation and promotional services of his Rambler & Co (42 million members) and Championat websites

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