Russian regulator licenses sixth sports betting operator

Russian online sports betting operator Fonbet has achieved local licensing status and opened its bkfon.ru site, becoming the sixth online sports betting operator to be awarded a Russian licence since the regulatory regime was implemented early this year.

Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

The company is a member of the trade association Bookmakers Self-Regulatory Organisation which favours the KIWI-Bank TSUPIS, but reports indicate that KIWI-Bank is not yet fully up to operational speed.

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