BingoBoom Rebrands As BetBoom

Russian sports betting operator BingoBoom has rebranded as BetBoom to better reflect what the firm is doing.

BingoBoom chief marketing officer Pyotr Kipa revealed on Friday that the company would be branded as BetBoom henceforth. Kipa said the company will spend the next few months upgrading its retail and online operations around RUB200 m (US$ 2.7 m) to reflect the new brand.

Speaking at an event in Moscow, Kipa said that by attracting new customers, especially younger adults who may not see bingo as the hippest thing on this planet, the company would recover the rebranding costs. It is confirmed that Russia ‘s new bookmaker Bettery is also pinning its hopes on creating a young hip clientele.

BingoBoom reported RUB20.1b ($271.2 m) revenue in 2019, good enough for fourth place among Russian-licensed bookmakers, though this was down one knot from the previous year.

A Curacao-licensed platform already operates under the BetBoom name, but with a hypen twixt bet and boom. It shares the red-and-yellow colour scheme of the Russian company, and while the site promotes the popular Russian Qiwi and Yandex Money payment processing options, the site argues it is “not intended for use in the Russian Federation.”

Most Russian-licensed bookies, such as poker and casino games, have branded sites located in jurisdictions outside the country that sell goods not allowed in Russia. These sites are ostensibly operated under Russian brand owner licence by unaffiliated third parties.

Russia’s telecom watchdog Roskomnadzor partners with these globally licenced sites in an endless (and mostly fruitless) game of prohibited whack-a-mole gaming territory. For eg, over the years 166 domains associated with the Curacao-licensed Bet-Boom have been hit with a ban-hammer from Roskomnadzor.

The country recently adopted legislation banning Russian-licensed bookies from registering their businesses in foreign jurisdictions outside the limits of the prospecting eye of the Ministry of Finance. Russia has taken a stronger interest in the handling of online gambling payments as its domain-blocking attempts have proven insufficient to stem the tide.

Meanwhile, a series of bookmaker sponsorship deals has sparked a resumption of Russian sporting activities following their long pandemic pause. This week Olimp announced three deals with second-tier Football National League clubs including Moscow’s Torpedo (taking over from BingoBoom, FYI), FC Nizhny Novgorod and SKA-Khabarovsk.

In the meantime, Winline has made deals with two Russian Premier League teams, Krasnodar and FC Zenit in St. Petersburg. Prior to this, both clubs had been funded by 1xStavka, the Russian equivalent of 1xBet.