Today, technology is influencing a major part of how businesses around the world operate. From finance and retail to education and real estate, the proliferance of technology is evident across several different sectors. The entertainment industry, too, has been tapping into the vast potential of technology of late. Companies like Parimatch Tech are assisting the entertainment industry by developing cutting-edge technology and marketing solutions.
Founded in 2020, Parimatch Tech is committed to providing the global community with the highest quality betting products and emotional experience from games. It is a subsidiary of the Parimatch brand—that has over 28 years of history and transformed from offline betting shops into the fastest online entertainment platform in Eastern Europe and Central Asia.
The idea behind the establishment of Parimatch Tech was to leverage technology to the fullest, considering that the technology is the future. The increasing importance of technology was highlighted during the COVID-19 pandemic which speeded up the digital transformation. Parimatch Tech highlights the globalization of business and gains brand awareness among partners and customers across the globe.
Fast-tracking Growth
Parimatch Tech’s platform is one of the most popular and advanced betting platforms in the Eastern Europe and Central Asia. The platform holds over 1600 transactions per minute, and its infrastructure makes it possible to provide company products and services to customers on every continent.
The company’s “Electric Yellow” Parimatch is already a well-known worldwide brand, thanks to sponsorship projects, in-house developed creative campaigns, and all other supporting brand materials. Using the Parimatch brand, companies looking to position themselves in their local markets can fast-track their growth rather than starting from scratch.
Parimatch Tech’s customers use the Parimatch platform to place bets and enhance emotions from sports and esports. According to the placing bet statistics, the top 3 directions are football, cyber football, and esports. Parimatch Tech was early to identify esports as a worthwhile category to invest in and the potential for betting companies to collaborate with the sector. The fan not only supports his favorite team but also plays alongside it. “We provide fans with an additional entertainment platform during tournaments to create a feeling of participation,” says Maksym Liashko (CEO and Member of the Supervisory Board at Parimatch Tech).
An Experienced Leader at the Helm
Maksym has over 15 years of experience in M&A, competitive law, tax optimization, international jurisdiction, legal and business consultancy, and working with online businesses. He is well-versed in management, representing a group of entities, approving decisions, corporate governance, and conducting legal restructuring of assets.
Being at the helm of the company, Maksym handles the company’s strategic development, business diversification, and the global expansion of the Parimatch brand. Over the years, his experience and competencies have helped to restructure the business, legally protect the brand’s reputation, build the company’s values, and preserve them in times of crisis.
Sustaining through the Challenges
The COVID-19 pandemic and the Russia-Ukraine war were the two most significant challenges in Parimatch Tech’s journey. The pandemic cancelled almost all the major events, which led to the crisis in the betting industry. However, Parimatch Tech constantly searches for new opportunities even during the worldwide crises. The pandemic speeded up the company’s in-house development of the betting platform and its customers’ migration to it. The pandemic appealed to the esports development as alternatives to major sports. Thus, almost 3 million people chose the Parimatch Tech platform and esports development became an important part of its offerings.
The recent Russia-Ukraine war also impacted the company. Parimatch Ukraine is the country’s largest investor in the national and regional sports sector, which the war has severely impacted. “After years of growth and development, the war rolled us back to the pre-COVID level for income. Now, we are working out new ways to refill the losses,” adds Maksym. Despite the numerous challenges, the war-days boosted Parimatch Tech’s productivity. The company is constantly developing new strategies, access to new markets, and diversification of the revenue sources. It quickly reorganized and switched to a full-remote format to face new challenges.
Highlights of the Illustrious Journey
Below are some highlights from Parimatch Tech’s journey.
- 1994 – Inception of the Parimatch Brand in Ukraine
- 2011 – Started the transformation into an online business, received an online license, and became a leader in the CIS gambling market
- 2014 – Restructuring of the Parimatch company and establishment of Parimatch holding
- 2018 – Beginning of tech transformation and development of a new in-house software platform
- 2019 – “Electric Yellow” rebranding, Conor McGregor and Mike Tyson became Parimatch brand ambassadors
- 2020 – Global partnerships with Juventus, LaLiga, Leicester City, Everton, and esports organizations Fnatic, Vitrus.Pro, and Team Spirit
- 2021 – Transformation and renaming of Parimatch holding into Parimatch Tech holding
- 2021 – Parimatch strengthens its English Premier League presence, securing partnerships with Chelsea, Aston Villa, Brighton & Hove Albion, and Southampton
- 2021 – Oleksandr Usyk joins Parimatch brand as the first-ever Responsible Gambling ambassador
- 2022 – War in Ukraine: employee evacuation from Kyiv, volunteer activities, franchise withdrawal from Russia, business diversification, a new R&D center in Prague, and two more offices in Western Ukraine
Prestigious Awards and Recognitions
For its leading-edge services, Parimatch Tech has won numerous awards and accolades. More than such awards, the company appreciates the recognition that reflects it as a responsible employer who takes care for the specialists and their families, maintains transparency and legality of labor relations, and ensures safety and comfort in the workplace. These awards include,
- Inspiring Workspace in EMEA and North Award 2021 – WINNER in “Inspiring Employer Brand Award”
- Europe’s Best Workplaces™ 2021
- GRC.UA research – WINNER in “Best Employers in Ukraine”
- Cyprus HR Awards – Platinum Award in “Workplace Well-being”, Gold Award in “Learning and Development” and “COVID-19 HR Action Plan”.
On being ranked among the “30 Best Companies to watch in 2022,” Maksym says, “My team and I are full of gratitude. Gratitude to our talented employees whose hard work, adaptivity, and fresh ideas make it possible to be recognized with this award.” He mentions that the key to success for Parimatch has been its people. Motivated, talented, and experienced employees are fired up to win and unlock new opportunities to develop. According to him, being adaptive, following the trends, and not dwelling on the industry are the factors required to thrive in the industry.
Transformation on the Cards
Parimatch Tech aims to diversify the resources, appoint competent stream leaders, and branch out to survive the crisis and rise back to the top again. Alongside the expansion, it is also focusing on expanding the range of its entertainment services. Moreover, to ensure the safety of its employees, the company is planning to open new hubs in Europe. Parimatch Tech’s first hub in Prague gathers employees in the region to provide a comfortable working environment and services to specialists throughout Europe. Maksym lists the necessity of AI, the influence and the importance of remote working, and cybersecurity measures as the three things Parimatch Tech’s clients and competitors should watch out for.
Quote: “Unity is our superpower, and together, we can create a future of digital entertainment.”
