top of page

Anton Kuchukhidze: Operating in the russian market is a priori a losing bet

The vast majority of civilized business representatives are leaving russia, which makes sense, since not a single adequate corporation or company wants to be associated with financing the cruel war unleashed against Ukraine. But, unfortunately, some companies are reluctant to leave the russian market and hide behind some “arguments”. This is a priori a losing strategy.

Today, operating in the russian market means signing another death warrant on one’s own business. No international company that stayed in russia can be accepted by civilized countries. Everyone realizes that these taxes are used to finance russia’s bloody war against Ukraine.

However, some global companies are still operating in the russian market, trying to get instant profit due to the lack of competition, as well as hiding behind the argument that the country’s political leadership, and not “ordinary consumers”, should be blamed for this war. Let me just remind you that the war in Ukraine is supported by 83% of russians.

Unfortunately, the gambling sector is no exception to this negative trend. Some international gambling companies are still operating in russia. In this context, a telling example is Sportradar, a provider of sports data for betting companies. Sportradar remains the leading partner of Liga Stavok, the largest rashist bookmaker, serving as a clear example of a lack of business ethics.

The other day, Chairman of the UAF Ethics and Fair Play Committee Francesco Baranca commented on the company’s odd position: “Sportradar, unlike Betgenius, does not cut relations with russia, continuing to provide game data and, consequently, generate revenue for this state. If everyone refused to send data to russia, it would be impossible to bet on live sports events.

At this point, it should be explained that in order to operate and take bets, betting companies must receive a huge amount of data about sports matches. And this is crucial, since modern betting, just like any game of chance, is closely related to sports, both from a technological and sponsorship point of view. No data means no business and, as a result, no sponsorship.

As long as sports data operators remain in russia, russian bookmakers can take bets and therefore make money and pay taxes. This should be stopped immediately. Responsible business must comply with sanctions imposed today on russia by all civilized countries, and not create loopholes in their activities to circumvent sanctions and finance the criminal rashist regime through taxes. I want to stress once again that each day spent by foreign companies in the russian market is the financing of terrorism and russia’s bloody war against Ukraine.

In civilized countries, international companies still operating in the russian market should be subject to strict sanctions imposed by regulators. Consumers also need to boycott such companies, being their major source of profit.

Anton Kuchukhidze, Chairman of the Ukrainian Gambling Council, exclusively for the Ukrainian News


bottom of page