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Fonbet Will Remain the Best Bookmaker in 2020

by Betting News 10 months ago in fact or fiction

Truth or False?

Fonbet is one of the oldest Russian bookmakers. The company was founded in 1994 by chess player Anatoly Machulsky (died in 2017), a native of the gambling industry Vadim Sidorov and banker Andrey Rozov. In 2004, Fonbet was the first among Russian bookmakers to accept bets during the match. The new service became its main advantage over its competitors.

By 2013, Fonbet was the leader of the Russian betting market with over 1 billion rubles in revenue. According to financial reports, the bookmaker has consistently earned in 2018 and 2019. Have profits changed in 2020? After the government added the company to the list of budget-forming enterprises, the media began to publish fakes.

Coronavirus Crisis & Gambling

The Coronavirus pandemic caused serious government concern. This is due to the high risk of bankrupting some companies. During the quarantine, people did not often visit restaurants, cinemas, or hairdressers. Therefore, the business did not receive funds. If we are talking about Fonbet, then this company employs hundreds of specialists. These are developers, support services, PR managers.

Fonbet is considered one of the leading bookmakers these days. Many competing companies are unhappy with this. Therefore, they use black PR to damage the company's reputation. This applies to the case when the owners of Fonbet applied for subsidies. Managers claim that they did not initiate the application for funds and do not have financial problems. However, competitors began to spread rumors that the company was bankrupt and involved in corruption.

Fonbet really has significant costs during a pandemic. The management of the company decided that it was worth taking advantage of the subsidy and submitting an application based on the terms of the state. This is to ensure that the level of service does not decrease. The responsiveness of employees and the friendly-interface are the result of the hard work of specialists. But, these are people who need to be paid a salary.

How Will the Bookmaker Develop in 2020?

Even though the quarantine had a big impact on the business, Fonbet's profits are unlikely to decrease in 2020. This is because companies have loyal customers. They will not look for an alternative gambling establishment even in a crisis. This is confirmed by the bookmaker's shareholders in their interviews. Sergey Tetruashvili is sure that all the gossip about the allegedly possible bankruptcy of the company is fake. The bookmaker's competitors are using black PR, but this is unlikely to affect the loyalty of Fonbet's customers.

“Our position is following: the company should not be on the list of enterprises that can qualify for state funds,” Paramonov told Izvestia. The news of inclusion in the list came as a surprise to him. The company management did not request the state for help, he said.

Fonbet's Investors

In December 2017, the shareholders of Fonbet changed. After new investments, the company's profit increased several times in just a year. By the end of 2018, income was 24 billion rubles. The 2019 reports are no less encouraging. Such analytics are proof of business profitability.

One of Fonbet's shareholders, David Tetruashvili, owns 1.25% in Brocar Perfumes LLC. The company is involved in the wholesale supply of perfumes. Other shareholders have their own businesses. These are real estate rentals, IT projects, and more. Such facts will confirm the diversification of risks for the company. Experts are confident that Fonbet will be the best bookmaker in 2020. Loyal bettors should not worry and look for an alternative site.

fact or fiction
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