How Russia managed to turn the tables and get onto the winning track after gambling almost everything on 2014 Sochi Olympic Games.
Sure, the 2014 Sochi Olympic Games are the most expensive in history, in fact the over $50 billion cost is higher than all previous Winter Olympics combined. But Russia, and President Putin didn’t just gamble money on the Games, there was much more at stake.
Apart from a huge financial gain the Games have brought in from ticket sales, merchandise craze, travel and hotel expenses for the visitors, and betting revenues for online sportsbooks in Russia, the country has bet its reputation on the Sochi Olympic Games.
In this week’s series of articles we will be looking at how Russia managed to turn the negative reports in Western media to its advantage and actually emerge as a big winner with their gambling on Sochi 2014. We will be providing detailed coverage of the following topics:
- Sochi mishaps in the eyes of Western media vs the real deal
- Betting on the Olympic sporting events
- Russian Roulette or how Russia wins big by gambling big on Sochi
- Sochi Olympics – the Games for everyone
- Can Sochi 2014 become a starting platform for gambling industry’s comeback?
- Is there life for Sochi after the Olympic Games?
When President Putin ensured Russia wins the right to host the Games back in 2007, by personally participating in the presentation before the International Olympic Committee and giving a speech in three languages, few have thought that the 2014 Sochi games will be such a success.
Reaction from Western media
In fact, starting right from 2007 the Western media has been putting out accusations of corruption in the Olympic Committee. And when construction has begun in Sochi, there were constant reports about money being put to anything, but building the actual arenas.
Right before the start of the Games, every self-respecting journalist coming to Sochi from abroad, thought it was necessary to point out how the hosts weren’t ready and how the Games will be a total disaster for Russia.
Let the Games begin
But along came the athletes and told a completely different story. They recounted on how the Russians were doing a great job welcoming them, and how the facilities were beyond their expectations, not to mention the overall atmosphere of celebration and the Olympic Spirit.
And then the Opening Ceremony time came, and 3 billion people worldwide along with over 60 world leaders at the Fisht Stadium were stunned by the performance the Russians put forward. Nevermind one of the Olympic Rings not opening, let the Americans cry over how the organizers purposefully didn’t open the ring symbolizing their continent.
Western readers and spectators strike back
Since the first day of the Olympics, angry readers have been writing to renowned Western newspapers and magazines, urging them to be objective, instead of continuing to pour dirt on the host country.
Some of them went as far as to threaten to cancel their subscriptions if the newspapers don’t stop their abuse of the Sochi Games.
Russian gambling on Sochi seems to have paid off. All the negative buzz generated by the Western media has actually backfired.
Russia wins big with their Olympic Games gambling
• Russia overturned bad-mouthing of the Games in the Western media to their advantage
• The 2014 Sochi Olympic games are breaking all the records in terms of viewership and participation
• Even the Russian gambling laws may take a turn for the better as the result of the Games
Live coverage from the games revealed the pictures of beautiful nature, wonderful facilities, and huge smiling crowds, contrary to the reports that no one is even interested in coming down to watch the Games.
Every event at the Games was packed, and unlike London 2012, the Russians didn’t even need to fill the stands with volunteers and army.
Russian big Olympic Gamble
Obviously, Putin and his advisors were anticipating the wave of attacks in the media. It turns out they’ve chosen the right path to win the betting on the 2014 Sochi Olympics: let the facts speak for themselves. They could’ve started a media war, but instead put their faith in the organizers and the Olympic Games themselves.
The Sochi gambling turned out to provide Russia with a big win. Not only is the whole world was stuck to the TV screens watching the athletes perform, but the controversial coverage of the Games and facilities by the Western media has actually played to Russia’s advantage.
The gamble President Putin took with the Olympic Games may have yet another positive outcome. This time the Russian gambling laws are concerned. Currently all gambling is prohibited in the country except for the four remote zones.
Lotteries and betting on sports at land-based and online sportsbooks in Russia was the only gambling form allowed prior to the Olympic Games. But now, looking at the amount of cash and subsequently tax payments to the government’s coffers, generated by the bookies alone, Russia might be looking into altering the gambling regulations and allowing the industry back into the country.
The image war has already been won. Despite all the efforts by foreign journalists, Russia has managed to come on top with their Olympic gambling. Simply by deciding not to answer allegations and bad-talk in the media, but allowing Sochi to shine on TV and let everyone see what’s really going on there, President Putin and the Russian Federation are already cashing in big time on their gamble.
Check out the rest of our featured articles on the 2014 Sochi Olympic Games gambling and learn from Russian experience how to win big if you’re gambling big.