Russian online sports betting feels the pinch
A study conducted by First Gaming attributes the decline to a number of unanticipated events, which include political and commercial sanctions flowing from Russian foreign adventures, the dramatic decline in the price of oil and a general economic softening in Russia.
Retail sports betting activity fared better than the online sector, growing 7 percent, although this again does not compare well with the double-digit growth achieved in previous years.
The online divisions of major betting companies dominated the online environment, with Fonbet recording an average 2.5 million visits each month – down 23 percent y-o-y, followed closely by Marathonbet (down 13 percent at 2.2 million) and BetCityru (1.6 million – down 31 percent y-o-y)
Further down the scale at around one million visitors per month were 1xbet, Parimatch and Zenitbet, while companies like Baitbet and Ligastavok hosted monthly visitors around the 500,000 mark to make up the top half of the leaders in the market.
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