The online gambling site of Russia, Bwin, has permanently shut its door for digital gambling. Also, the planning of Bet365 Russian already started to appear.
The Bwin.Ru site stopped working for the local bettors who found the homepage of the site displaying a message saying “unavailable at present,” which is citing “system maintenance work.” The social media of the site was silent, and questions regarding this went unanswered.
Bwin.ru confirmed on Monday that their closure is based on the “rapidly changing realities and new legislative initiatives.” to make “Bwin’s withdrawal from the Russian market as comfortable as possible for all customers, we have reached an agreement with one of the industry leaders, Parimatch.”
Reportedly the customers are going to find the funds held in Bwin.ru accounts and get them transferred to Parimatch.ru. Also, the customers who decided to wager along with Parimatch are going to receive a unique bonus offer. The migration towards Parimatch is going to get completed by the end of this month.
Ruslan Medved, the Russian CEO, noted that “not all companies are now able to compete with the mastodons and, no less important, with the market itself and its realities.” He further said that Parimatch is going to make the migration as painless as possible for each person while not sacrificing loyalty.
Bwin had become the first western brand for betting that got launched in Russia in November 2017 with a partnership between the UK and the parent company GVC Holdings, along with the local outfit Digital Betting LLC. The former one came with the betting technology, while the latter one came with a bookmaking license. It was supposed to come up with the marketing muscle.
The former CEO of Bwin.ru Dmitry Sergeyev, left and opted to join the Russian licensed site of Parimatch in May 2019. Bwin.ru, as per the reports, got sold to Cyprus-based Nirevia Holdings Ltd in February of 2020. Later, Sergeyev came up with the revelation that Digital Betting owner Alexander Mamur never came through the funds related to marketing that he originally promised, and with this, the popularity of the site got languished.
The online betting market of Russia got hit with the pandemic last spring. However, the situation became tougher as the year drew towards the close of culminating the adoption of the tough and new regulations. The regulations demanded more significant and much greater financial contributions from the bookmakers to the sports bodies of Russia.
VulkanBet, which is more similar to Bwin.ru, went through a struggling period to gain acceptance along with the local bettors. It surrendered with its Russian license in December. Also, it is convinced that the new regulations are going to come up with more future operations. It is very less likely going to chip away the share in the market from the Market leaders like Liga, Stavok, BetCity, Fonbet, Winline, and Parimatch.
So, what is all about the imminent launching of BET365.RU? The pejorative view is not likely to get shared by the UK-based online betting giant, Bet365. Its eGaming review came with a report last week that it has registered the Bet365.ru domain along with the local wen registry. The Russian license of Bet365 was reportedly waiting for the final approval from the Federal Tax Service.
The interest of Bet365 in a Russian licensed operation is in the news from February 2019, when the company said that it is just going to be a few months away from the re-advent of the Russian site. But in June, a strange incident came up where the Russian authorities intercepted the shipment of 400kg of cocaine. Each of the bricks got the stamp with the stickers that were bearing the green and yellow logo of Bet365.
It is not so clear whether the incident is having any bearing on Bet365’s decision regarding the timing for the Russian launch was not optimal. At the same time, the telecom watchdog of Russia, Roskomnadzor, was continuing to add the affiliated domains of Bet365 to its blacklist for online gambling along with making Bet365.com for the grade in May 2020.