In December 2024, the BIC uncovered how this company operates. It is owned by the Presidential Property Management Department. 99.8% of its revenue comes from the Belbet online lottery. Although the site functions as a virtual casino, it is not subject to the rules laid down by the state for this type of gambling.
For example, Belbet does not verify the identity or age of players, so minors can lose real money. In 2023 alone, Belorusskiye Loterei’s revenue projections were more than 6 billion Belarusian roubles (more than $1.8 billion).
The motivational part of the sanctions document states that Belbet’s registration as a lottery creates “favourable working conditions,” while Belorusskiye Loterei supports the official Minsk “through generating substantial profit from online gambling”.
OOO Ridotto and Dzmitry Shvedka, one of its founders and directors, were also placed on the restrictive list. This company developed the software for Belbet. Its owners are linked to Alexander Shatrov, who was sanctioned by the EU in 2021 for developing the Kipod surveillance system, which helped the Belarusian state apparatus “suppress civil society and democratic opposition.”
