Sports

The Exodus of the Gambling Industry from Russia

Written by Eric · 1 min read >
Gambling

Russia’s hostile invasion of Ukraine has sent shockwaves ricocheting around the world. The harrowing scenes that have been broadcast on mainstream news channels have caused almost every mainstream company to re-evaluate its affiliation with Russia. In light of this massive humanitarian crisis, many of the world’s biggest companies have been leaving Russia and closing operations in their droves.

The gambling industry is no different, with some of the world’s biggest companies deciding to end their involvement within the Russian market. The citizens of Russia can no longer access the range of games and services offered by the world’s leading online gambling companies. For those who reside outside Russia, access to $1 min deposit casino platforms remains the same as before.

Bet365 pulls the plug

On the back of global public outcry in response to the Russian military aggression, global betting powerhouse Bet365 has ceased all operations in Russia. Russian citizens will no longer have the opportunity to register an account on the platform or to deposit money into their accounts. After March 15th, the company’s Russian customers were no longer able to withdraw any funds that were in their accounts.

Bet365 has ordered that no individual, party, or company is to use its brand in Russia for any form of marketing or promotion. The company has yet to release an official press release to explain any of the aforementioned actions. However, when placed within the context of global events, it’s not particularly difficult to conclude why Bet365 has chosen to do these things.

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Parimatch blows the final whistle

Parimtach, the esteemed global online betting conglomerate, has finalized its withdrawal from Russia. Having been originally founded in Kyiv, Ukraine, it should come as no surprise that this massive organization has chosen to cut all ties with Russia.

The company’s Russian operation, Betring, was notified of the changes being finalized on March 26th. In light of this decision, no materials or resources linked to Parimatch can be used or distributed for any purpose within Russia. Parimatch has been deeply hurt and disturbed by the events which have been unfolding within their founding country. The company has donated somewhere between UAH 30,000,000 and 60,000,000 to the Ukrainian military effort to provide assistance.

Illinois Gaming Board cuts off Russian sport

In line with the sanctions that have been imposed by the rest of the Western world, the Illinois Gaming Board has suspended betting on all sports contests that are being played in Russia. The company released a statement, where it was said that the organization would not honor bets on “any sports event, league or competition” being held in Russia.  Whilst it was a largely symbolic gesture, it helps to convey to the wider public that it has been deeply disturbed by the destruction and devastation which has been wreaked upon Ukraine by Vladimir Putin.

The gambling industry rallies together to provide support for Ukraine

Ukraine is a pivotal player within the global gaming industry. Many studios, along with infrastructure hubs, are located throughout the company. At the start of March, iGaming launched an online crowdfunding page to help support the individuals who are directly affected by the Ukrainian war.

The money raised has been used to cover relocation costs, along with providing various forms of aid to displaced communities.

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