Following more than a decade of absence, gaming is finally making a comeback in Ukraine: an unfortunate incident back in 2009 forced the government to ban gaming altogether until a new law was introduced in 2020.
One of the first to re-enter the newly regulated market is also one of the oldest gaming companies in the country - Parimatch. Equipped with over two decades of experience from around Europe, Parimatch is now more ready than ever to take the Ukrainian market by storm.
Responsibility of Being the First
One of the advantages Parimatch has compared to other operators is being more familiar with the customer profile of Ukrainians and, according to the operator, customers in Ukraine are big on sports betting, especially football.
Parimatch boasts of being the only sports betting operator in the Ukrainian market of 40 million people.
This is exactly why Parimatch spared no money or effort to be the first and only sports betting operator in the market of 40 million people. Due to high obstacles to entering the market, including a provision of the current law that requires operators to pay fees of three times the normal rate, Parimatch’s position is unrivalled at the moment.
However, with great advantages comes great responsibility and Parimatch does not shy away from it either. Being the only sports betting provider also means being subjected to increased regulatory scrutiny. Rules and conditions; AML checks, KYC checks, compliance checks, etc. All of these will all have to be in perfect order at Parimatch as it will be the only one under the spotlight.
“Being the first, you have to be the best,” Chief Regulatory Officer at Parimatch Ievgeniia Derbal told ice365 in an interview recently.
Naturally, such a position opens a number of advantages in the marketing strategy as it allows Parimatch to be the only company that is advertising. Also, it allows for a high degree of influence in shaping regulations.
Being the only sports betting company will allow Parimatch to assume a dominant position in marketing and have a say in shaping regulations.
According to Derbal, Parimatch is currently working with the Ukrainian government and its gambling regulator to ensure that, going forward, regulations are strong but balanced. Currently, Parimatch is paying a lot of attention to responsible gaming as an area in which it can support the regulator and the government to develop proper and balanced rules.
Building on Experience and Taking Advantage of Benefits
Ukraine’s population boasts a high level of tech knowledge and the country has become a sort of tech hub for Eastern Europe, with the government working to offer even more incentives to spur innovation.
And this is something Parimatch is looking at taking advantage of, apart from building on experience it acquired in other countries during more than a decade of absence from Ukraine.
“We’re really using our experience from other countries with all of that and I hope that our efforts will be good,” Derbal underlined.