Russian Regulator Licenses Sixth Sports Betting Operator

Fonbet up and running, but TSUPIS-based payment system still a concern

Russian online sports betting operator Fonbet has achieved local licensing status and opened its site, becoming the sixth online sports betting operator to be awarded a Russian licence since the regulatory regime was implemented early this year.
Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.
The company is a member of the trade association Bookmakers Self-Regulatory Organisation which favours the KIWI-Bank TSUPIS, but reports indicate that KIWI-Bank is not yet fully up to operational speed.

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