Leading internet betting firm bwin has announced that it has gone live in Russia, following an agreement entered into between bwin parent GVC Holdings and investor Alexander Mamut, owner of Digital Betting, LLC and Rambler & Co., which hold the gaming license under which the site will operate.
The launch of bwin’s operations in Russia will allow players to place sports bets legally in the country with the Russian site having at least €30 million invested in order to develop the brand over the following three years.
Bwin.ru is the first group based outside of Russia to legally offer wagering services within the country’s borders.
Dmitry Sergeyev, the Chief Executive Officer of Digital Betting, who also serves as the Chief Executive Officer at bwin.ru is aiming to capture 10% of Russia’s online betting market within three years with Mamut undertaking to spend up to €10 million per year to boost awareness of bwin’s Russian site.
A spokesman for bwin, commented on the launch by saying that their entry into the Russian market is thought to be a pioneering movement. He went on to say that they are the first foreign brand to operate in the market ever and will pave the way for the entrance of other major betting sites.
The spokesman also said that they understand that many players still bet offline due to there being quite a large number of betting shops. He added that they did a lot of research to prepare for the launch and they are now ready to meet the expectations of those who believed and continue to believe in them.
