Russia’s sports betting operators are making slow progress in adapting to the country’s new online requirements.
The Bookmakers SRO (self-regulatory organization) announced this week that it has selected the Moscow-based JSC KIWI-Bank to handle its TSUPIS centralized online betting payments hub. The bank is part of the QIWI Group, which operates over 175k electronic payment terminals across Russia.
TSUPIS is a requirement of the Russian government, which made tracking all online transactions a condition for enacting its new sports betting licensing regime. The rollout of the system has been delayed due to disagreements between rival SROs and concerns that some bookies would face higher transaction fees than others.
Bookmakers SRO chairman Nikolai Oganezov told Betting Business Russia that his group’s members had chosen KIWI-Bank in part because of its reliability and experience, but also because it lacked direct ties to any one bookmaker. Organezov claimed this latter feature was a “fundamental factor” in selecting KIWI-Bank.