The Russian sports betting operator, BingoBoom, rebrands to BetBoom to better reflect what the company does. The Chief Marketing Officer of BingoBoom, announces that the company will, from now on, will be known as BetBoom.
The company also will spend the next couple of months in transforming its retail and online operations. Also, according to gambling news, it will be around $2.7 million US dollars to be able to reflect the new identity.
How Will the Sports Betting Operator Handle the Rebranding Costs?
The sports betting operator will be able to regain and cover its rebranding cost by attracting new customers—notably, young adults who may not view bingo as exciting. Russia’s latest bookmaker, Bettery, is also pinning hopes on developing a hip young client.
BingoBoom revenue of $271.2 million in 2019. It is good enough for fourth place among the Russian-licensed bookmakers. However, this is down one notch from the year before, according to sportsbook reviews.
Feud on the New Name
There is a site with a license under Curacao. operating under the BetBoom brand; however, it has a hyphen between bet and boom. Also, it shares a Russian company’s red-and-yellow color scheme and promotes Russia’s Qiwi and Yandex Money payment processing options. The site claims that it is not intended to use in the Russian Federation.
Most of the bookies under a license with Russia have site branding in the jurisdiction outside the country. In which it is offering products that do not have approval in Russia. These products include poker and casino games. Therefore, according to the casino directory, the sites are under by unaffiliate third-parties under license from the Russian brand owner.
The country recently approves legislation prohibiting bookies with Russian license from registering their businesses in foreign jurisdictions. Wherein it is beyond the reach of the Ministry of Finance’s probing eye. Russia takes a greater interest in online gambling payment processing as its domain-blocking efforts prove incapable of stemming the tide.
