Fonbet Gets Russian Betting License

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 bkfon.ru site, becoming the sixth online sports betting operator to be awarded a Russian license 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 Organization which favors the KIWI-Bank TSUPIS, but reports indicate that KIWI-Bank is not yet fully up to operational speed.