Leading UK betting group BetVictor recently forwarded its customers a communication wherein it informed players that it has decided to suspend its service, transactions and wagers from the Russian online betting market and will be cutting off the country from its sports betting and casino services.
The betting group has revealed that it is endeavoring to close all Russian customer accounts and is recommending that all affected players withdraw all their remaining funds and balances in their accounts.
The betting giant’s decision to withdraw from the market comes after the announcement that Russian government authorities are planning to increase their efforts to penalize unlicensed bookmakers that are targeting Russian consumers and making operators submit to heavy licensing terms or face very stiff penalties.
It has also been reported that the Russian Ministry of Finance is in the process of targeting further digital restrictions to international banks as well as online payment providers that are mediating unlicensed operator transactions.
Russian Media regulator, Roskomnadzor, is said to have grown its blacklist of European operators that are deemed to have been breaching Russian gambling regulations throughout last year and authorities have already IP blocked Bwin Casino, Unibet Casino, Favbet Casino, Triobet Casino as well as a number of other websites.
BetVictor have been in the business since 1946 and is a UK online bookmaker that players can trust. BetVictor Limited currently has over half a million customers in more than160 countries with operations in Europe, the United Kingdom and the Far East with betting and gaming sites available in a number of languages.