LeoVegas No Longer Offers Betting Markets on Russian, Belarusian Sports

LeoVegas has become the latest entity from the gambling industry to rally support for embattled Ukraine and suspend bets on sports markets and for customers coming from Russia and Belarus. Even though LeoVegas does not have any explicit arrangements with Russian or Belarusian sports teams, the company refuses to legitimize teams and leagues based in the aggressor countries.

Russian and Belarus Sports Off the Books

Meanwhile, teams from the two countries have been prohibited from taking part in most competitions internationally, with almost the entirety of the world of sports arguing it will not let Russian or Belarusian athletes attend. The first athletes to experience the sanctions were the Paralympic athletes who were blocked from participating in the Beijing event.

FIFA is also discontinuing the Russian soccer team’s participation in the 2022 World Cup after all nations in the group said they would not play against Russia. Governing bodies of soccer have decided to exclude teams from international competitions as well.

LeoVegas, which is based in Sweden, sent SEK500,000 ($51,000) to the Red Cross and 400 Swedish citizens have joined to fight for Ukraine voluntarily. Meanwhile, numerous brands have said that they would no longer conduct business with Russian or Belarusian entities.

Bet365 and Parimatch have already discontinued their operations in Russia and Clarion Events said that it would not work with entities, companies, or individuals who represent either Belarus or Russia, citing the war waged on Ukraine as the reason why. The gambling industry has tried to rally its support for the one million Ukrainian refugees leaving the country because of the war.

The Malta Gaming Authority has already issued a warning to its licenses to be careful when approving financial transactions and not to collaborate with sanctioned entities and persons or funds of “Russian source.”

Industry Condemns War in Ukraine, Takes Action Against Russia

Czech business leaders have condemned the war and said that they would be aiding the relief efforts. Meanwhile the Gaming Industry for Ukraine initiative is currently funding a campaign that will send $333,000 to refugees and victims of the war. While some have advised for less retaliatory action against ordinary Russians, the fact remains that Russia wagered an unprovoked war on its neighbor instead of seeking diplomatic solutions.

Russia has attacked Ukraine two times in the past ten years, including the forceful annexation of Crimea and the war in Donbas that has led to the deaths of 13,000 civilians.