Parimatch_(company)

Parimatch

Parimatch

Cypriot sports betting company (1994–2023)

Parimatch was an international sports betting company that operated in Europe, with its headquarters located in Limassol, Cyprus.

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History

Parimatch was established in 1994 in Kyiv, Ukraine. The company entered the Russian market in 1998. The online betting website was launched in 2000 and was one of the first among bookmakers in the CIS region.[2] In September 2015, Parimatch entered the Kazakhstan market and began cooperation with Federbet to prevent match-fixing.[3] In 2018, the company began operations in Tanzania[4] and Cyprus.[5] In December 2018, Parimatch's CEO, Sergey Portnov won 'Leader of the year award' at the SBC Awards held in London.[6] In February 2020, the company joined the Esports Integrity Commission to assist with battling cheating and fraud in esports.[7] In March 2021, Parimatch became the first betting company in Ukraine to buy a license after a new law regulation was adopted by the local parliament.[8][9][10] In June 2021, Parimatch expanded operations across India.[11] In December 2021, Parimatch acquired the performance marketing organization Mr Fish in addition to the online poker room PokerMatch.[12]

In March 2022, Parimatch withdrew the franchise from Russia due to the full-scale military invasion into Ukraine.[13][14] Following this, in May, Parimatch announced they had organized the Parimatch Foundation and had allocated €510,000 to support the people of Ukraine. The foundation, originally set up for educational and sports projects, has reallocated its resources toward helping Ukrainian women and children during the humanitarian crisis.[15]

In April 2022, Parimatch announced a restructuring of its management, appointing Maksym Liashko as the new CEO of the organization as Roman Syrotian (former CEO) stepped into a supervisory role.[16]

In May 2022, Parimatch continued with the company's plan for international expansion by opening a new European hub in Prague. Additionally, the new office provided a working environment for the company employees from Ukraine. The previous company R&D center was in Kyiv but has been relocated for safety reasons due to military activity around the capital.[17]

License

Parimatch operated under local licenses issued by the regulatory authorities of each country in Cyprus, Kazakhstan, Tajikistan, and Tanzania.[18] The company also carried out its activity under the international license of the self-governing territory Curaçao (eGaming).

On October 1, 2020, Parimatch launched into the UK market with their website being run by BV Gaming Limited.

On March 10, Parimatch LLC had its operations in Ukraine suspended by the National Security and Defense Council, as reported by Hromadske. The sanctions affected all property of the company, including its subsidiary websites and the licensed website PM.UA. As a result of the blocking, approximately 250 million hryvnias of Ukrainian players' funds were frozen in Parimatch's accounts, according to Maksym Lyashko.

References

  1. [1]
    Davies, Daniel (January 30, 2020). "Meet The CEO With Tyson And McGregor On Speed Dial". Men's Health.
  2. [2]
    "Париматч – прорыв года и победа сразу в двух номинациях".
  3. [3]
    ""Пари-Матч" и Federbet за год выявили более 30 странных матчей". Рейтинг Букмекеров (in Russian).
  4. [4]
    "Parimatch Tanzania review 2020 » Bonus up to 1 000 000 TZS". 3 August 2019.
  5. [5]
    "Parimatch CEO Sergey Portnov: The "wild" decision to enter Tanzania". SBC News. May 1, 2018.
  6. [6]
    Russell, Matt (December 5, 2018). "Parimatch's CEO wins accolade at the SBC Awards 2018 in London".
  7. [7]
    Fitch, Adam (February 20, 2020). "Parimatch enters into Esports Integrity Commission". Esportsinsider.
  8. [8]
    "Parimatch заплатив 180 млн грн за першу в Україні ліцензію на букмекерську діяльність". espreso.tv (in Ukrainian). Retrieved 2021-07-05.
  9. [9]
    Miller, George (2021-03-05). "Parimatch became the first company in Ukraine to receive permission for a betting license". European Gaming Industry News. Retrieved 2021-07-05.
  10. [10]
    ""Париматч" и "Геймдев" получили лицензии на организацию онлайн-казино". delo.ua (in Russian). Retrieved 2021-07-06.
  11. [11]
    "PMI to Expand its Customer Base Across India". 28 June 2021. Retrieved 23 March 2022.
  12. [12]
    "Parimatch Tech acquires Mr.Fish and PokerMatch". Igamingbusiness. 7 December 2021. Retrieved 23 March 2022.
  13. [13]
    "Parimatch finalizes Russian withdrawal whilst also cutting esports ties". SBC News. 29 March 2022.
  14. [14]
    "Parimatch Tech Finalized Withdrawal from the Russian Market". 28 March 2022.
  15. [15]
    "Parimatch allocates €510,000 to Ukraine aid". IGaming Business. 6 May 2022. Retrieved 9 March 2022.
  16. [16]
    "Parimatch Tech appoints sole CEO in management reshuffle". Egr Global. 1 April 2022. Retrieved 5 April 2022.
  17. [17]
    "Parimatch secures double objectives with Prague office opening". SBC News. 6 May 2022. Retrieved 27 May 2022.
  18. [18]
    Miller, George (September 13, 2019). "African superstar Diamond Platnumz is a new brand ambassador for Parimatch Africa".
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