The portal Sports.ru has analyzed the financial reports of 16 legal bookmakers in Russia for the year 2025. The data does not account for the new 7% tax on GGR, which came into effect on January 1, 2026. Here are the key findings:
Market Dynamics:
- Total deposits for 2025 reached $1.877 trillion, marking a 7.6% year-on-year increase.
- The market growth from 2022 to 2025 was 127%, with a reported inflation rate of 5.6% for 2025 according to the Central Bank.
Revenue and Market Share:
- Fonbet: $712.4 billion (17% YoY), 37.95% market share.
- Winline: $409.2 billion (1.4%), 21.8% market share.
- BetBoom: $238.4 billion (5%), 12.7% market share.
- Pari: $143.6 billion (7.7%), 7.65% market share.
- League of Bets: $115.8 billion (1.7%), 6.17% market share.
- Olimpbet: $72.3 billion (4.4%), 3.85% market share.
- Betcity: $70.6 billion (5.1%), 3.76% market share.
- Melbet: $39.4 billion (13.5%), 2.10% market share.
- Leon: $19.5 billion (19.9%), 1.04% market share.
- Marathon: $19.2 billion (2.5%), 1.02% market share.
- Baltbet: $12.7 billion (26.8%), 0.68% market share.
- Zenit: $12.1 billion (1.8%), 0.65% market share.
- Bettery: $5.4 billion (343.2%), 0.29% market share.
- Tennisi: $4.4 billion (3.1%), 0.24% market share.
- Sportbet: $2.2 billion (16.8%), 0.12% market share.
- Bet-M: $100 million, 0.01% market share.
GGR:
- Total GGR for the industry was $344.9 billion.
- Fonbet: $149 billion.
- Winline: $101.4 billion.
- League of Bets: $26.6 billion.
- Pari: $25 billion.
- Olimpbet: $16.4 billion.
- Melbet: $11.7 billion.
- Marathon: $5.2 billion.
- Leon: $4.3 billion.
- Baltbet: $3.1 billion.
- Bettery: $1.2 billion.
- Tennisi: $1 billion.
- BetBoom, Betcity, Zenit, Sportbet did not report their figures.
Net Profit:
- Total net profit was $75.6 billion, down 18.5% year-on-year, with 10 out of 16 companies reporting a decline.
- Fonbet: $28.8 billion (23.1%).
- Winline: $24.6 billion (11.3%).
- Pari: $10.3 billion (23.8%).
- Melbet: $5.7 billion (6.1%).
- Betcity: $2 billion (59.8%).
- League of Bets: $1.3 billion (40.6%).
- BetBoom: $1.3 billion (48%).
- Olimpbet: $1 billion (55.2%).
- Bettery: $400 million (604.3%).
- Marathon: $400 million (54.6%).
- Baltbet: $200 million (64.4%).
- Zenit: $30 million (133.4%).
- Sportbet: $30 million (161.8%).
- Leon: $300 million (310.6%).
- Bet-M: $300 million.
- Tennisi: $50 million (117.8%).
Target Contributions:
- Total contributions to the ERAI amounted to $37.77 billion (2% of revenue, with a minimum threshold of $120 million).
Commercial Expenses:
- Total commercial expenses reached $94.6 billion.
- Winline: $42.4 billion (leading for the second consecutive year).
- Fonbet: $21.6 billion.
- BetBoom: $12.8 billion (50% YoY).
- League of Bets: $6.3 billion.
- Pari: $5.7 billion.
- Olimpbet: $5.2 billion.
- Betcity, Melbet, Baltbet, Leon, Zenit, Sportbet, Bet-M did not report their figures.
According to the authors of the review, 2026 will be a challenging year for bookmakers due to the increased tax burden (7% of GGR, with target contributions rising to 2.25% of revenue, potentially reaching 2.5% by 2028). Not all will withstand this pressure.
The sports betting market in Russia has recorded the lowest growth since legalization. With inflation at 5.6%, the real growth was less than 2%, sharply contrasting with the double-digit growth rates of previous years. Amid this market slowdown, 10 out of 16 bookmakers reported a decline in profitability, with three ending the year in the red. Fonbet increased its market share by 3 percentage points, widening the gap from Winline, which, despite the highest commercial expenses in the market at $42.4 billion, saw a revenue decrease of 1.4% and a net profit drop of 11.3%.