Parimatch Leaves Russia, Expands in India

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2022-06-09

Parimatch is among the best esport betting sites that is trustworthy, where punters can always place wagers on their favorite esports, tournaments, or football club. Parimatch offers live betting, ongoing sporting news, and championships' standings. The betting provider also provides detailed stats and daily analytics. Punters can wager on over twenty sports from more than fifty countries. These events cover over two hundred leagues having more than 500 daily sporting events.

Parimatch Leaves Russia, Expands in India

Ceasing Operations in Russia

After completing all legal and technical steps, Parimatch Tech has taken its brand off the market in Russia. Parimatch Tech announced in March 2022 that it was exiting the Russian market due to its invasion of Ukraine.

In 2016, Betring LLC signed a partnership with Parimatch Tech to run the Parimatch brand in Russia. Betring received all rights to use the Parimatch trademark in Russia as part of that agreement. However, Parimatch Tech, a Ukrainian company, sent Betring termination documents to stop running the Parimatch brand in Russia. Additionally, Betring was required to limit the Parimatch trademark's use in local sponsorship contracts.

This cancellation means that all Parimatch advertising materials, emblems, colors, global ambassadors, and slogans are prohibited in Russia. Also, all local ambassadors are prohibited from utilizing any Parimatch branding.

No Return Date in Current Plan

According to Roman Syrotian, co-chief executive of Parimatch, Russia's war against the Ukrainian people and state made it impossible for them to use Russia's brand and digital solutions. Thus, Parimatch ceased to assist all operational and technical activities and withdrew its trademark.

Maksym Liashko, co-chief executive of Parimatch Tech, felt that the board's decision to exit the Russian market was carried out rightfully. Any use of the Parimatch brand in Russia will be considered a violation of intellectual property. They reiterated that the decision was not a restyle or a rebranding. The franchise has been shut down completely.

Termination of Team Spirit Partnership

Many esports organizations have ceased or reduced their operations in Russia or with Russian organizations due to Russia's invasion of Ukraine. Following Parimatch's exit from Russian markets, the betting business and Russian esports organization Team Spirit have ended their cooperation early.

In January, the companies announced that they would be extending their cooperation. Parimatch Tech's Head of Esports, Stepan Shulga, reacted to the decision, saying they have no mutual claims because all of the partnership's obligations were met. However, they believe that this was the only way to get past them due to the challenges of working during the conflict.

Parimatch has since put on hold its esports development goals to devote its resources to aiding Ukraine in the battle. Following Russia's invasion, the business decided to shut down its Russian activities in February. Its Parimatch Tech platform, which provides technology solutions to operators in the country, is also included.

Similarly, Team Spirit has relocated its headquarters from Russia to Belgrade, Serbia. In addition, the group stated that it would postpone plans to expand its infrastructure in Moscow for the time being.

Parimatch was an honest and reliable partner with whom Team Spirit established mutual understanding in all situations, according to Nikita Chukalin, CEO of Team Spirit. He expressed gratitude for three years of productive work on behalf of the team, and this forced separation did not bring them any joy. The team has a clear understanding of the current situation and works together with Parimatch without making accusations against one another.

More Attractive Betting Opportunities in India

The new initiative was launched by PMI, a service firm that assists Parimatch in planning and implementing its expansion strategy. The company is excited to see the gaming industry grow in the country.

Parimatch Exchange is a new way to bet online that is more adaptable, profitable, and enjoyable. Parimatch has announced the opening of its betting exchange, an online platform quickly becoming known as a new type of esport betting. Users have more opportunities to wager and win because of the wide range of bets available on the new markets. The quickness with which bets are accepted, as well as other features, are outstanding.

PMI, a service business tasked with developing and implementing Parimatch's expansion plan, announced the new initiative, indicating that the gaming sector in the country is on the rise. The Parimatch Exchange is a one-of-a-kind betting platform that combines traditional and general betting. It improves the efficacy and efficiency of betting in a variety of ways.

Better Odds with Exchange

There is one very appealing aspect: one can make a wager and provide a more significant coefficient, but it must be supported and matched by another player. Users benefit from high rates and greater transparency regarding the number of people betting and the total amount wagered. The turnover is always evident when displaying the sums paid for the event. If another individual is eager to wager, the exchange allows clients to make higher bets.

The Parimatch Exchange platform is more appealing and efficient for betting since it combines traditional and online betting. Layers and Backers have their bets matched faster by matching both sides. Using the Parimatch Exchange, bettors have improved their odds and gained helpful expertise. It also allows clients to bet against each other, whether the event occurs or not, once the sum of the bet is agreed. Its primary basis of operation is similar to that of a stock exchange. Customers wager on a variety of sporting events all across the world.

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