Russia is set to host the football (soccer) World Cup 2018, one of the most high profile events all over the world. Quite logically, it is projected to attract a number of important sponsors and investors. The International betting operators stand ready to enter the local market.
Russia’s licensed sports betting market is going to double its professional activity over the next five years.
Russia's regulated market deals with €9.4 billion every year, an amount that is projected to increase up to €20.03 billion. Currently the Russian market is raking in €62,6 million and is believed to double up until 2020.
On 2014 the legislation regulating sports came into force, along with a huge push to transition the iGaming landscape from illegal licensed. Despite the lawmaker's efforts though, almost 65% of total online betting is still wagered at the illegal market.
For this reason alone, the Russian government has taken stern measures in order to prevent unregulated sites from operating in Russia.
Following this direction, a Bill is scheduled to be introduced that would prohibit the use of VPN and will force internet services providers to block unlicensed betting sites.