Sportingbet to enter Russian market

Russian second largest bookmaking firm, First International Bookmakers Company operates 256 licensed betting outlets in 67 cities across the nation under the Liga Stavok brand.

London-based Sportingbet stated that the five-year deal will see it serve as the sole provider of online services to a new Russian Internet sportsbook branded under the name Liga Stavok Powered By Sportingbet.

“Liga Stavok has unparalleled access to the Russian sportsbetting market as a result of its exclusive betting partnerships with the Russian Football Premier League,” read a statement from Sportingbet. “As one of only 18 license holders, Liga Stavok is one of the country's most recognised betting brands. The fast growing Russian sportsbetting industry has an estimated turnover of us$ 1.8 billion a year.”

“I am delighted that Liga Stavok has chosen to partner with Sportingbet,” said Andrew McIver, Chief Executive Officer for Sportingbet.“I am confident that the combination of Sportingbet's world-class online sportsbetting product and expertise with Liga Stavok’s strong brand and exclusive betting partnerships will enable the joint venture to build a leading position in this exciting and fast-growing market.

“This partnership is a perfect fit with Sportingbet’s strategy to build geographical diversity through new markets while working with the highest quality partners where appropriate,” he concluded.