Russia: Bwin to enter local market

14 Jun 2017

Two giants are set to join forces for a significant development in Russia, as bwin is ready to launch in the local market.

GVC Holdings, the parent company of bwin and Russian billionaire, Alexander Mamut are set to operate an online betting platform in the country.

According to the Kommersant Russian media outlet, Bwin.ru will operate in partnership with Digital Betting LCC. This company secured an online gaming license last year. The third partner of this cooperation is an online technology firm named Rambler & Co, with both companies being owned by Mr. Mamut.

Dmitry Sergeyev, Chief Executive of Digital Betting LCC, will also act as Chief Executive of bwin.ru.

Mr. Mamut is intended to invest up to €10€, per year over the next three (3) years in order to give boost the new brand, bwin.ru.

Although this amount is considered pretty significant, it is but a drop in the ocean, if someone takes into account that the newly regulated Russian market is currently worth €15.7m in total annual revenue (sources by Kommersant).

As things stand, only about 10 bookmakers operate in Russia. The entry of bwin into the Russian market is thought to be a pioneering movement, that will pave the way for the entrnace of other betting sites.

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No introduction is needed for Bwin. They were the first betting giants, being founded in 1999 when they came to the spotlight as Bet And Win. Since 2016, they have been under new ownership - GVC Holdings - and have a clear white market strategy, acquiring domestic licenses in New Jersey, Sweden, Italy, Greece, France, and Spain. Bwin is regarded as a top-class bookmaker, but there are some massive pros and cons. The website is a little bit outdated, and the odds should be higher, especially at the top leagues. The absence of Asian bets and the slow withdrawal times are also a great minus. The same applies to the fast limitation on winning accounts, no matter if we are talking about a sharp or a recreational player. On the other hand, the live betting section comes with so many extra features, like Multiview and live streaming. The range of extra bets, both at the pre-match and live betting, sports and payment methods is huge and the mobile apps magnificent. No matter the disadvantages, Bwin will always be a safe place and a classic destination for the bettors.

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