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How to deal with information overload

In the modern “always on” world we live in, the speed of technological advancement means that we are bombarded with a huge amount of news, messaging, videos, advertisements and opinions from the moment we wake up to when we go to sleep. This can gradually become a heavy burden. A study by Roger Bon and his fellow researchers at the University of California in San Diego, which has been reported in British broadsheet newspapers The Times and Daily Telegraph, suggests that people are on the receiving end of the equivalent amount of 34 Gb of information, an amount which would overload the average laptop within a week. The study was conducted a couple of years ago so this number is likely to have increased significantly since then. The СOVID-19 pandemic has been dominating the media for weeks, creating a situation where the risk of drowning in information overload is even higher than normal. This information overload is comparable to eating unhealthily, which can be harmful to our wellbeing. The difference is that eating unhealthily harms physical health, whereas excess information harms mental health. What to do? How to deal with this information overload? The answer: in the same way as trying to change your diet and get healthy. Andrii Suslenko, Chief Communications Officer at Parimatch, shares 5 steps to help cope with an excess of information: 1. Give up fast food! Do not feed your brain with information spam. Choose only reliable sources and verified information. Enjoy high-quality products only. 2. Balance your diet! You should not focus only on the news from your region, politics, or economy. The world is much wider! Spice up your dish with international culture, innovation and sports. 3. Starve! Try and take time to isolate yourself from information. Stay alone with your thoughts. Silence is the best weapon in the fight against information overload. Do not worry that the world will collapse if you do not read the news for one day. Everything will be ok! 4. Challenge your critical thinking. Ask yourself the questions, “Why do I need this information? For what? Why do they want me to only read about this one topic?” 5. Do not eat raw! It takes time for quality reporting and insight to come to the fore. Wait 1-2 days and watch how spam is eliminated. After that, there will only be reliable and relevant sources of information. The news can often resemble a glass of muddy water, give it time, and the sediment will sink to the bottom. Take care of your mental health, and do not overload yourself with unnecessary information!

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24 February 2020

What does ‘compliance’ mean for Parimatch?

Parimatch has transformed from a bookmaker trading out of physical stores to a cutting-edge online sports betting platform which currently boasts over 2.6 million customers. With this level of growth comes great responsibility. Regulation is a key component of the Parimatch business, as it protects our customers by setting transparent and reliable rules when it comes to betting and gaming. Parimatch’s Chief Compliance Officer Yuriy Shevchuk explains "Whilst Parimatch is proud to be daring and different, we don’t push the boundaries when it comes to compliance. We currently hold nine gaming licences across six separate jurisdictions on four continents. The fast-changing nature of the betting and gaming industry means that we make every effort to keep up-to-date with regulatory change across all geographies we operate in, by consistently communicating with best practice licensors and licensees, even where we might not have a licence ourselves, in order to stay ahead of the game." "At Parimatch, it is my responsibility to maintain our reputation as a responsible business amongst our customers, partners and most importantly regulators. This reputation must evolve from within the business itself, which is why department heads, customer facing teams and Parimatch senior management all attend workshops and training sessions to streamline our approach to compliance and subsequently maximise the customer experience. Protecting Parimatch’s licence to operate, and the needs of our customers, is the backbone of our business."

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24 February 2020

What does ‘compliance’ mean for Parimatch?

Parimatch has transformed from a bookmaker trading out of physical stores to a cutting-edge online sports betting platform which currently boasts over 2.6 million customers. With this level of growth comes great responsibility. Regulation is a key component of the Parimatch business, as it protects our customers by setting transparent and reliable rules when it comes to betting and gaming. Parimatch’s Chief Compliance Officer Yuriy Shevchuk explains "Whilst Parimatch is proud to be daring and different, we don’t push the boundaries when it comes to compliance. We currently hold nine gaming licences across six separate jurisdictions on four continents. The fast-changing nature of the betting and gaming industry means that we make every effort to keep up-to-date with regulatory change across all geographies we operate in, by consistently communicating with best practice licensors and licensees, even where we might not have a licence ourselves, in order to stay ahead of the game." "At Parimatch, it is my responsibility to maintain our reputation as a responsible business amongst our customers, partners and most importantly regulators. This reputation must evolve from within the business itself, which is why department heads, customer facing teams and Parimatch senior management all attend workshops and training sessions to streamline our approach to compliance and subsequently maximise the customer experience. Protecting Parimatch’s licence to operate, and the needs of our customers, is the backbone of our business."

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How values are born: Parimatch’s experience

Company values are an indicator of a business’ integrity, and acts as a beacon for all employees. Values ​​are the foundations of the the vision and corporate culture of any business. It is a unique tool which connects employees from across the world, and empowers them to work together in a certain way. But How do they work? And how does a company choose them? Do all companies need values? We are pretty sure that most companies have a set of values, but they are not always communicated well. After all, if you have a small business and only a small number of staff - it is easier to communicate to the team and find common solutions. But if you grow to become a large international company, values become even more important. Why is that? Values are the pillar on which the vision, culture, goals, and development strategy of the company are built. It gives employees around the world something to focus on. Where to find your company values? Definitely not sitting in the office. Parimatch found ours in the mountains of Georgia. Sixty-five managers from across all regions we operate in decided to live the company's values by getting closer with nature. They divided into teams and made a four-hour mountain crossing at an altitude of 1281 meters. It was in these uncomfortable conditions that the managers were able to feel how our company values helped, or indeed hindered the experience. It is very important not only to write values on paper, but also to have an emotional reaction to ensure that you truly live the values you say that you do. How did we make this happen? The Parimatch team initially divided into seven groups. Each group had to live its own value. Inside the group, each participant had a role: leader (ambassador of the value), hero, motivator, support man, shaman (people who recorded the emotional and physical state of the team during the experience), as well as an opponent of the value. Why is an adversary of value to the group? It was this person who questioned the credibility of the value. The arguments of this participant helped the group to agree on the basic principles of each value. Hiking in the mountains is a fantastic adventure, but at the same time, it is a test. It is by overcoming the challenge that you find true meaning. In addition to the main task of climbing the mountain path, participants had to apply their value to the challenge and observe their emotions, feelings, thoughts and how their relationships within the group changed. When the participants returned from their mountain hike, they became stronger, friendlier, and spiritually richer. The next day, the teams gathered again. They analyzed their feelings, and discussed, and developed the basic principles and meanings of their values. Each person understood the values in his way. The goal was to come to a conclusion which would satisfy everyone without exception. And of course, at the end, each group made a presentation of their values and shared their feelings with the rest of the participants. In just 2 days, 65 people decided upon seven company values. What's next? Now it is crucial to communicate and implement these values within the company, as well as to external stakeholders. Tatiana Davydova, Chief HR Officer: "Our task is not just to write down values ​​on paper, but to give our employees a real opportunity to live these values. In 2020, we will spend every month living and breathing a certain value, and all our activities will be aimed at showcasing that value from different perspectives. This includes lectures,competitions, changes in nutrition programs, and much, much more. What we certainly do not want is to impose these values ​​within the organization. But they are what our business is anchored in. We will share our values ​​with employees in a friendly and comfortable way. And we believe that, over time, they will begin to embody these values, and help our employees become even stronger.” Andrii Suslenko, Communications Director: "A company that employs corporate values ​​is a good sign for any external partner. It is important to show these values to the world. How? Each of Parimatch's employees lives our values. Our TOP managers are continually participating in international industry events. Their vision and principles are the authoritative voice of our values to our business partners. Thanks to our HR practices, our employees also communicate the company's values ​​to society, to their friends and families. And of course, we demonstrate the implementation of company values ​​through the media and PR campaigns. You can easily find videos from our corporate events on our social and YouTube channels including: PM Summer Camp, PM Night, Family Day. At these events, we live our values and enable our families and partners to live them with us. Our values are not about PR or business results. It is about us as individuals. And we are always happy to share our experiences and achievements on this subject."

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How values are born: Parimatch’s experience

Company values are an indicator of a business’ integrity, and acts as a beacon for all employees. Values ​​are the foundations of the the vision and corporate culture of any business. It is a unique tool which connects employees from across the world, and empowers them to work together in a certain way. But How do they work? And how does a company choose them? Do all companies need values? We are pretty sure that most companies have a set of values, but they are not always communicated well. After all, if you have a small business and only a small number of staff - it is easier to communicate to the team and find common solutions. But if you grow to become a large international company, values become even more important. Why is that? Values are the pillar on which the vision, culture, goals, and development strategy of the company are built. It gives employees around the world something to focus on. Where to find your company values? Definitely not sitting in the office. Parimatch found ours in the mountains of Georgia. Sixty-five managers from across all regions we operate in decided to live the company's values by getting closer with nature. They divided into teams and made a four-hour mountain crossing at an altitude of 1281 meters. It was in these uncomfortable conditions that the managers were able to feel how our company values helped, or indeed hindered the experience. It is very important not only to write values on paper, but also to have an emotional reaction to ensure that you truly live the values you say that you do. How did we make this happen? The Parimatch team initially divided into seven groups. Each group had to live its own value. Inside the group, each participant had a role: leader (ambassador of the value), hero, motivator, support man, shaman (people who recorded the emotional and physical state of the team during the experience), as well as an opponent of the value. Why is an adversary of value to the group? It was this person who questioned the credibility of the value. The arguments of this participant helped the group to agree on the basic principles of each value. Hiking in the mountains is a fantastic adventure, but at the same time, it is a test. It is by overcoming the challenge that you find true meaning. In addition to the main task of climbing the mountain path, participants had to apply their value to the challenge and observe their emotions, feelings, thoughts and how their relationships within the group changed. When the participants returned from their mountain hike, they became stronger, friendlier, and spiritually richer. The next day, the teams gathered again. They analyzed their feelings, and discussed, and developed the basic principles and meanings of their values. Each person understood the values in his way. The goal was to come to a conclusion which would satisfy everyone without exception. And of course, at the end, each group made a presentation of their values and shared their feelings with the rest of the participants. In just 2 days, 65 people decided upon seven company values. What's next? Now it is crucial to communicate and implement these values within the company, as well as to external stakeholders. Tatiana Davydova, Chief HR Officer: "Our task is not just to write down values ​​on paper, but to give our employees a real opportunity to live these values. In 2020, we will spend every month living and breathing a certain value, and all our activities will be aimed at showcasing that value from different perspectives. This includes lectures,competitions, changes in nutrition programs, and much, much more. What we certainly do not want is to impose these values ​​within the organization. But they are what our business is anchored in. We will share our values ​​with employees in a friendly and comfortable way. And we believe that, over time, they will begin to embody these values, and help our employees become even stronger.” Andrii Suslenko, Communications Director: "A company that employs corporate values ​​is a good sign for any external partner. It is important to show these values to the world. How? Each of Parimatch's employees lives our values. Our TOP managers are continually participating in international industry events. Their vision and principles are the authoritative voice of our values to our business partners. Thanks to our HR practices, our employees also communicate the company's values ​​to society, to their friends and families. And of course, we demonstrate the implementation of company values ​​through the media and PR campaigns. You can easily find videos from our corporate events on our social and YouTube channels including: PM Summer Camp, PM Night, Family Day. At these events, we live our values and enable our families and partners to live them with us. Our values are not about PR or business results. It is about us as individuals. And we are always happy to share our experiences and achievements on this subject."

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02 January 2020

The Importance of Partnerships in CSR Projects

Parimatch Foundation’s Chairwoman Katerina Belorusskaya explains how taking a collaborative approach is key to delivering successful CSR projects. Giving back to society has been part of Parimatch’s DNA since the business was founded 25 years ago. However, it wasn’t until 2018 that the company’s CSR initiatives were formalised with the launch of Parimatch Foundation, and we haven’t looked back since. Parimatch Foundation has helped us to channel our CSR activities more effectively, meaning that we can deliver long term projects which really make a big impact on the ground in the communities where we operate. It is no secret that CSR programmes aimed at ensuring the healthy development of children’s bodies and minds have a positive impact on both the economic and social wellbeing of society. It is for this reason that the Foundation’s main goal for 2020 is to unite business, government and the public sector to come together and use the power of sport to help children in need. For example, in Ukraine, we are teaming up with the Ministry of Education, the Department of Sport, and several sporting federations to launch an educational platform for physical education teachers in schools across the country. The platform will give P.E teachers access to the latest innovative teaching tools and methods, helping children to engage with sport in new ways. We also have plans to work closely with parents, encouraging them to share in sporting moments with their children, whether that be a simple game of basketball in the backyard, or a trip to see the national football team play. By empowering teachers to deliver lessons which are interesting and above all fun, coupled with inspiring parents to spend time with their family in a sporting environment, we hope that children will realise the positive impact sport and exercise can have on their everyday life. Projects like this would not be possible without taking a collaborative approach to working with external partners. When it comes to CSR, the more people or organisations you can coalesce around a common goal, the bigger and better the impact will be on communities who need help the most.

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02 January 2020

The Importance of Partnerships in CSR Projects

Parimatch Foundation’s Chairwoman Katerina Belorusskaya explains how taking a collaborative approach is key to delivering successful CSR projects. Giving back to society has been part of Parimatch’s DNA since the business was founded 25 years ago. However, it wasn’t until 2018 that the company’s CSR initiatives were formalised with the launch of Parimatch Foundation, and we haven’t looked back since. Parimatch Foundation has helped us to channel our CSR activities more effectively, meaning that we can deliver long term projects which really make a big impact on the ground in the communities where we operate. It is no secret that CSR programmes aimed at ensuring the healthy development of children’s bodies and minds have a positive impact on both the economic and social wellbeing of society. It is for this reason that the Foundation’s main goal for 2020 is to unite business, government and the public sector to come together and use the power of sport to help children in need. For example, in Ukraine, we are teaming up with the Ministry of Education, the Department of Sport, and several sporting federations to launch an educational platform for physical education teachers in schools across the country. The platform will give P.E teachers access to the latest innovative teaching tools and methods, helping children to engage with sport in new ways. We also have plans to work closely with parents, encouraging them to share in sporting moments with their children, whether that be a simple game of basketball in the backyard, or a trip to see the national football team play. By empowering teachers to deliver lessons which are interesting and above all fun, coupled with inspiring parents to spend time with their family in a sporting environment, we hope that children will realise the positive impact sport and exercise can have on their everyday life. Projects like this would not be possible without taking a collaborative approach to working with external partners. When it comes to CSR, the more people or organisations you can coalesce around a common goal, the bigger and better the impact will be on communities who need help the most.

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08 December 2019

To Win over Esports Fans, Authenticity is Key

Nowadays, esports is moving out of the sidelines and into the mainstream. Its popularity is growing rapidly, in such a way that it may overtake more conventional sports. This means the marketing value of esports is huge. By supporting esports teams, brands get direct access to a large and engaged audience, mostly comprising the millennial generation. However, as the market is not yet fully mature, it does not require large investments in marketing when compared to more traditional sports like football or hockey. Yet, you still do not see many large corporations sponsoring esports teams, unlike betting companies, which have been quick to show interest in the field. In fact, betting companies were the first to identify the opportunity to place their logos with esports teams. “Bookmakers were the first to sponsor esports, but big guys will come too, such as Nike, Coca Cola, and Pepsi. Sponsorship will become more expensive. It will be like a mature field” said Parimatch CEO Sergey Portnov from the stage of WebSummit 2019. When it comes to sponsorship, is it enough to just have a logo on the t-shirt of an esports team? According to Portnov, this is a very primitive form of promotion and it has little value. In order to attract players having the logo is not enough, instead, it is necessary to cultivate the spirit of esports within the business. Parimatch’s leadership recognized the commercial opportunities in esports and built a new department to focus specifically on developing their own esports marketing and product offers. “You have to have a team in your company who's obsessed with esports, then they will build an esports focused culture within the business. This culture will be broadcast to the players. Esports lovers sense inauthenticity. If you are fake, they won’t play with you. In this business, it is necessary to be honest and sincere”, Sergey stated. Parimatch is actively developing an esports focus to its activities. Parimatch Holding partners with many esports events, including the Forge of Masters CS: GO tournament from WePlay, which has its own Dota2 League from the organizers of Epic Events and Ruhub studio. In addition, Parimatch partners with Virtus.pro, the legendary esports team. This not only increases brand loyalty, and attracts new customers, but builds recognition amongst partners.

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08 December 2019

To Win over Esports Fans, Authenticity is Key

Nowadays, esports is moving out of the sidelines and into the mainstream. Its popularity is growing rapidly, in such a way that it may overtake more conventional sports. This means the marketing value of esports is huge. By supporting esports teams, brands get direct access to a large and engaged audience, mostly comprising the millennial generation. However, as the market is not yet fully mature, it does not require large investments in marketing when compared to more traditional sports like football or hockey. Yet, you still do not see many large corporations sponsoring esports teams, unlike betting companies, which have been quick to show interest in the field. In fact, betting companies were the first to identify the opportunity to place their logos with esports teams. “Bookmakers were the first to sponsor esports, but big guys will come too, such as Nike, Coca Cola, and Pepsi. Sponsorship will become more expensive. It will be like a mature field” said Parimatch CEO Sergey Portnov from the stage of WebSummit 2019. When it comes to sponsorship, is it enough to just have a logo on the t-shirt of an esports team? According to Portnov, this is a very primitive form of promotion and it has little value. In order to attract players having the logo is not enough, instead, it is necessary to cultivate the spirit of esports within the business. Parimatch’s leadership recognized the commercial opportunities in esports and built a new department to focus specifically on developing their own esports marketing and product offers. “You have to have a team in your company who's obsessed with esports, then they will build an esports focused culture within the business. This culture will be broadcast to the players. Esports lovers sense inauthenticity. If you are fake, they won’t play with you. In this business, it is necessary to be honest and sincere”, Sergey stated. Parimatch is actively developing an esports focus to its activities. Parimatch Holding partners with many esports events, including the Forge of Masters CS: GO tournament from WePlay, which has its own Dota2 League from the organizers of Epic Events and Ruhub studio. In addition, Parimatch partners with Virtus.pro, the legendary esports team. This not only increases brand loyalty, and attracts new customers, but builds recognition amongst partners.

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14 November 2019

Behind the scenes: Parimatch & Conor McGregor’s press tour

Legendary UFС fighter and Parimatch brand ambassador Conor McGregor visited the CIS region for a joint press tour with Parimatch Holding in October 2019. Whilst the media continue to analyze his speeches and comments from the press conferences, his fans will remember the visit for a long time. We caught up with Tamara Babits, Deputy CMO at Parimatch, who headed up the team that organized Conor’s visit. What was the aim of a joint press tour with Conor? Our main goal was to generate excitement and interest in the Parimatch brand by highlighting the strength of our partnership with Conor. By creating hype, and giving journalists access to a superstar like Conor, we were able to reach entirely new audiences who may have never heard of Parimatch – and give a real boost to our brand awareness. What were the challenges of arranging a tour for an international superstar? We carefully prepared for the arrival of Conor, but you can’t control everything – especially the weather! We were confronted not only by extreme weather conditions but the migration service and an army of fans. Due to heavy fog in Kyiv, Conor’s plane could not land and the press conference was significantly delayed – and in order to obtain a visa for Moscow, we had to reissue Conor's passport in 2 days! The main thing is to stay calm and have a pragmatic approach. You should always be prepared with a back-up plan – although a magic wand would be nice! Were there any funny stories from Conor’s tour? Sure! We were thinking of arranging a stunt involving Conor lookalikes in the city, in order to further boost public interest in the visit. Later we abandoned this idea, but Conor's doubles co-ordinated their own appearance, which generated hype amongst the public and media alike. How does Parimatch choose its brand ambassadors? The choice of brand ambassadors should always be aligned with strategy and brand positioning. Parimatch is dynamic, courageous and international. We consider potential ambassadors by assessing their levels of recognition in the countries we operate in, how well they resonate with the spirit of the company and the influence and scale of their fan community. We are also very mindful of the preferences of our own audience. In 2018, Conor and Habib created a lot of hype around their fight. We already had our partnership in place with the UFC and were actively looking for an ambassador. Since February 2019, we have been working with Conor. Conor was the face of our new branding, announced at the same time as the ambassador deal. We are unique in the CIS betting market in this way - with a history and strong heritage going back 25 years, we still dared to radically change. How do brand ambassadors' actions affect the company’s image? Companies choose ambassadors for their image, style, and influence – and Conor’s attitude reflects our own. We chose Conor for his boldness, so we are much more flexible than other brands might be. Obviously we have our own brand guidelines and boundaries in place, which we proactively communicate to all of our ambassadors. What effect has your partnership with Conor had on the business? We’ve really seen an increase in recognition and interest in Parimatch since Conor’s tour of the CIS countries, and his announcement on returning to the octagon certainly helped! It’s a win-win collaboration, and this is backed up by a study we’ve conducted that assesses the results of our marketing activities and communications around the partnership. Reveal the secret - who is the next brand ambassador? We will continue to surprise and build brand loyalty by choosing bold characters and influential voices to be our ambassadors. We regularly analyze the preferences of our customers and keep them on our radar. I won’t reveal the secret, but I’ll hint - we are currently in negotiations with Hollywood.

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14 November 2019

Behind the scenes: Parimatch & Conor McGregor’s press tour

Legendary UFС fighter and Parimatch brand ambassador Conor McGregor visited the CIS region for a joint press tour with Parimatch Holding in October 2019. Whilst the media continue to analyze his speeches and comments from the press conferences, his fans will remember the visit for a long time. We caught up with Tamara Babits, Deputy CMO at Parimatch, who headed up the team that organized Conor’s visit. What was the aim of a joint press tour with Conor? Our main goal was to generate excitement and interest in the Parimatch brand by highlighting the strength of our partnership with Conor. By creating hype, and giving journalists access to a superstar like Conor, we were able to reach entirely new audiences who may have never heard of Parimatch – and give a real boost to our brand awareness. What were the challenges of arranging a tour for an international superstar? We carefully prepared for the arrival of Conor, but you can’t control everything – especially the weather! We were confronted not only by extreme weather conditions but the migration service and an army of fans. Due to heavy fog in Kyiv, Conor’s plane could not land and the press conference was significantly delayed – and in order to obtain a visa for Moscow, we had to reissue Conor's passport in 2 days! The main thing is to stay calm and have a pragmatic approach. You should always be prepared with a back-up plan – although a magic wand would be nice! Were there any funny stories from Conor’s tour? Sure! We were thinking of arranging a stunt involving Conor lookalikes in the city, in order to further boost public interest in the visit. Later we abandoned this idea, but Conor's doubles co-ordinated their own appearance, which generated hype amongst the public and media alike. How does Parimatch choose its brand ambassadors? The choice of brand ambassadors should always be aligned with strategy and brand positioning. Parimatch is dynamic, courageous and international. We consider potential ambassadors by assessing their levels of recognition in the countries we operate in, how well they resonate with the spirit of the company and the influence and scale of their fan community. We are also very mindful of the preferences of our own audience. In 2018, Conor and Habib created a lot of hype around their fight. We already had our partnership in place with the UFC and were actively looking for an ambassador. Since February 2019, we have been working with Conor. Conor was the face of our new branding, announced at the same time as the ambassador deal. We are unique in the CIS betting market in this way - with a history and strong heritage going back 25 years, we still dared to radically change. How do brand ambassadors' actions affect the company’s image? Companies choose ambassadors for their image, style, and influence – and Conor’s attitude reflects our own. We chose Conor for his boldness, so we are much more flexible than other brands might be. Obviously we have our own brand guidelines and boundaries in place, which we proactively communicate to all of our ambassadors. What effect has your partnership with Conor had on the business? We’ve really seen an increase in recognition and interest in Parimatch since Conor’s tour of the CIS countries, and his announcement on returning to the octagon certainly helped! It’s a win-win collaboration, and this is backed up by a study we’ve conducted that assesses the results of our marketing activities and communications around the partnership. Reveal the secret - who is the next brand ambassador? We will continue to surprise and build brand loyalty by choosing bold characters and influential voices to be our ambassadors. We regularly analyze the preferences of our customers and keep them on our radar. I won’t reveal the secret, but I’ll hint - we are currently in negotiations with Hollywood.

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04 November 2019

Breathing life into Parimatch’s personality

How sponsorship deals can help communicate a brand’s core values. Any self-respecting brand has a corporate mission, its own philosophy, and values, which help to build brand love with its customers. But it isn’t enough to just rely on the written word to bring a brand’s personality to life, it is too impersonal, and frankly quite boring! Instead, it is key to attract well known and respected names and personalities who embody the same philosophies as the brand and lives and breathes the same values. But how do you make these kinds of partnerships work, and what do they cost? Asking sporting megastar Conor McGregor to be the face of your advertising campaign does not come cheap. He is one of the top 5 sports stars in the world when it comes to social media presence, with tens of millions of eyeballs watching his every move online. Signing one partnership with McGregor costs around the same amount as it would to partner with the entire UFC MMA Association. It seems crazy that the impact is the same for a whole sporting community as it is for one athlete, but when it comes to somebody like McGregor, his legion of fans makes the investment worthwhile. “A sponsorship deal can be compared to decorating a new apartment. You bought a new apartment, it is cool, of course, but by decorating it the way you want it makes it even better, and more personal to you. Similarly, with a sponsorship deal, you need to put some money aside to make sure that it personal to the brand.” - Ivan Liashenko, CMO. Earlier this year we agreed on a brand partnership with Mike Tyson. What he brings to the table is slightly different from McGregor. He may not have the same online influence, but in our key markets, he is famous for being an ultimate global sporting icon. We wanted to associate the brand with somebody with longevity as a winning legend, embodying the Parimatch fighting spirit but in a different way. For Parimatch, associating ourselves with global sporting superstars like Tyson and McGregor has helped raise our profile internationally, particularly in markets we don’t have operations in. It takes years to measure the success of sponsorship deals, but agreements with superstars like Tyson and McGregor have already indicated to us that our customers associate Parimatch with being a serious international betting brand, fired up to win.

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04 November 2019

Breathing life into Parimatch’s personality

How sponsorship deals can help communicate a brand’s core values. Any self-respecting brand has a corporate mission, its own philosophy, and values, which help to build brand love with its customers. But it isn’t enough to just rely on the written word to bring a brand’s personality to life, it is too impersonal, and frankly quite boring! Instead, it is key to attract well known and respected names and personalities who embody the same philosophies as the brand and lives and breathes the same values. But how do you make these kinds of partnerships work, and what do they cost? Asking sporting megastar Conor McGregor to be the face of your advertising campaign does not come cheap. He is one of the top 5 sports stars in the world when it comes to social media presence, with tens of millions of eyeballs watching his every move online. Signing one partnership with McGregor costs around the same amount as it would to partner with the entire UFC MMA Association. It seems crazy that the impact is the same for a whole sporting community as it is for one athlete, but when it comes to somebody like McGregor, his legion of fans makes the investment worthwhile. “A sponsorship deal can be compared to decorating a new apartment. You bought a new apartment, it is cool, of course, but by decorating it the way you want it makes it even better, and more personal to you. Similarly, with a sponsorship deal, you need to put some money aside to make sure that it personal to the brand.” - Ivan Liashenko, CMO. Earlier this year we agreed on a brand partnership with Mike Tyson. What he brings to the table is slightly different from McGregor. He may not have the same online influence, but in our key markets, he is famous for being an ultimate global sporting icon. We wanted to associate the brand with somebody with longevity as a winning legend, embodying the Parimatch fighting spirit but in a different way. For Parimatch, associating ourselves with global sporting superstars like Tyson and McGregor has helped raise our profile internationally, particularly in markets we don’t have operations in. It takes years to measure the success of sponsorship deals, but agreements with superstars like Tyson and McGregor have already indicated to us that our customers associate Parimatch with being a serious international betting brand, fired up to win.

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21 October 2019

Being a good corporate citizen. Parimatch Foundation

Chairwoman of the Parimatch Foundation, Katerina Belorusskaya, shares her views on the importance of corporate citizenship and what it means to her The Parimatch Foundation was created as a vehicle for Parimatch’s corporate citizenship activities and agenda. For me, corporate citizenship is not only an institution’s responsible attitude to its service offering, customers, partners, and employees but its contribution to the communities within which it operates. Therefore, whilst responsible gambling is central to Parimatch’s corporate citizenship efforts, the company is also committed to solving acute societal problems, through regular interaction with the community. At Parimatch, we are proud of the fact that we have committed to helping the community on our own accord – not because a law or regulation obliges us to do so. Parimatch predominantly operates in the CIS markets, where companies do not face strict obligations regarding corporate citizenship. Rather, we feel that helping others is a moral duty. The company acts without wanting or expecting anything back and relishes the feeling of having helped others altruistically. For Parimatch, corporate citizenship consists of three separate elements – people, future generations and profits. Firstly, people. We treat our employees as though they are family, by caring about their well-being and by educating them on the importance of contributing to society. Secondly, future generations. The Parimatch Foundation operates in three areas relating to future generations – sport, education, and the environment. In terms of sport, Parimatch prides itself on helping to develop children’s sports. As for education, our aim is to ensure that every child has access to it. Regarding the environment, Parimatch is keen to implement strategies that will save the planet – meaning that future generations can rest in the knowledge that they reside in a sustainable environment. The final element of Parimatch’s corporate citizenship efforts relates to profits. Profits are integral to the livelihoods of Parimatch employees because it is out of these profits that employee wages are paid. In addition, profits can be used to invest in the local community. The greater the company’s profit, the greater its propensity to contribute towards the community. This very fact motivates Parimatch employees to be the most productive they can be. And the benefits of corporate citizenship do not stop there. Through our extensive corporate citizenship efforts, Parimatch is gaining a reputation for being a responsible bookmaking company – which has broadened our customer demographic. Moreover, our efforts have meant that we are gaining a reputation for being a reliable and supportive employer – which has broadened the pool of talent applying to the company for employment. Corporate citizenship efforts mean that Parimatch, a gambling and betting company, is being considered a community leader by customers and employees alike – a laudable feat. We do not deny that gambling addiction is a real issue, but we are making sustained efforts to educate customers about the purpose of betting, which is a source of entertainment and distraction – much like sporting pursuits and other hobbies. Of course, there is a link between corporate citizenship and commercial success – especially when it comes to corporate reputation. In our sector and the regions in which we operate, it is essential to build a reputation for being a responsible bookmaker. This is important for customers, potential employees, and potential partners. At Parimatch, we remain focused on expanding on the work that the Parimatch Foundation has achieved to date, as we strive to deliver a positive impact to the societies in which we operate.

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21 October 2019

Being a good corporate citizen. Parimatch Foundation

Chairwoman of the Parimatch Foundation, Katerina Belorusskaya, shares her views on the importance of corporate citizenship and what it means to her The Parimatch Foundation was created as a vehicle for Parimatch’s corporate citizenship activities and agenda. For me, corporate citizenship is not only an institution’s responsible attitude to its service offering, customers, partners, and employees but its contribution to the communities within which it operates. Therefore, whilst responsible gambling is central to Parimatch’s corporate citizenship efforts, the company is also committed to solving acute societal problems, through regular interaction with the community. At Parimatch, we are proud of the fact that we have committed to helping the community on our own accord – not because a law or regulation obliges us to do so. Parimatch predominantly operates in the CIS markets, where companies do not face strict obligations regarding corporate citizenship. Rather, we feel that helping others is a moral duty. The company acts without wanting or expecting anything back and relishes the feeling of having helped others altruistically. For Parimatch, corporate citizenship consists of three separate elements – people, future generations and profits. Firstly, people. We treat our employees as though they are family, by caring about their well-being and by educating them on the importance of contributing to society. Secondly, future generations. The Parimatch Foundation operates in three areas relating to future generations – sport, education, and the environment. In terms of sport, Parimatch prides itself on helping to develop children’s sports. As for education, our aim is to ensure that every child has access to it. Regarding the environment, Parimatch is keen to implement strategies that will save the planet – meaning that future generations can rest in the knowledge that they reside in a sustainable environment. The final element of Parimatch’s corporate citizenship efforts relates to profits. Profits are integral to the livelihoods of Parimatch employees because it is out of these profits that employee wages are paid. In addition, profits can be used to invest in the local community. The greater the company’s profit, the greater its propensity to contribute towards the community. This very fact motivates Parimatch employees to be the most productive they can be. And the benefits of corporate citizenship do not stop there. Through our extensive corporate citizenship efforts, Parimatch is gaining a reputation for being a responsible bookmaking company – which has broadened our customer demographic. Moreover, our efforts have meant that we are gaining a reputation for being a reliable and supportive employer – which has broadened the pool of talent applying to the company for employment. Corporate citizenship efforts mean that Parimatch, a gambling and betting company, is being considered a community leader by customers and employees alike – a laudable feat. We do not deny that gambling addiction is a real issue, but we are making sustained efforts to educate customers about the purpose of betting, which is a source of entertainment and distraction – much like sporting pursuits and other hobbies. Of course, there is a link between corporate citizenship and commercial success – especially when it comes to corporate reputation. In our sector and the regions in which we operate, it is essential to build a reputation for being a responsible bookmaker. This is important for customers, potential employees, and potential partners. At Parimatch, we remain focused on expanding on the work that the Parimatch Foundation has achieved to date, as we strive to deliver a positive impact to the societies in which we operate.

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08 October 2019

Developing an in-house sportsbook platform

Parimatch’s Chief Technology Officer Konstantin Obraztsov shares his experience of building Parimatch`s new in-house sportsbook platform Online betting company Parimatch has never shied away from a challenge! Behind the scenes, we have taken on one of the biggest technological challenges in the company’s history - the creation and delivery of a new in-house sportsbook platform. The journey has taken almost five years, and right now we are moving all of our customers onto the new platform, a task which is no mean feat! An internally developed platform has many benefits, but above all, it gives us the flexibility to implement our ideas and innovations at speed. As well as flexibility, the new platform helps us with scaling up in a dynamic way, whereas it was a much slower process when we previously used a third-party supplier. If we want to move into new markets, it will be much easier because new customers will be using our own platform from day one. The new platform takes advantage of cutting-edge cloud technology, which is beneficial when it comes to scaling up, and also saves us money. Using the latest technology makes it easier to maintain our technical systems, and also helps us to attract great people who want to work at a truly innovative business! When building our new platform, it was crucial that we did so with a mobile-first attitude. With more and more people using their mobile phones for all aspects of their lives, not only in betting, we needed to ensure that the platform was suitable for mobile app development. Product development can also be faster when you are in control of your own platform, which means the delivery of our product development strategy is now firmly in our hands. When it comes to product development, we tend to have a pipeline looking six months into the future, and is tailor-made to the various countries we operate in. For example, in one market we might need to promote egaming or esports, whilst in another, it is more important to promote UFC. This is where an in-house platform truly comes into its own. We have the freedom to adapt to each of our brands in different markets very quickly. Of course, Parimatch’s customers have no idea all this work is happening in the background, as the new platform still has the same look, feel, functionality and great betting experience that they are used to!

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08 October 2019

Developing an in-house sportsbook platform

Parimatch’s Chief Technology Officer Konstantin Obraztsov shares his experience of building Parimatch`s new in-house sportsbook platform Online betting company Parimatch has never shied away from a challenge! Behind the scenes, we have taken on one of the biggest technological challenges in the company’s history - the creation and delivery of a new in-house sportsbook platform. The journey has taken almost five years, and right now we are moving all of our customers onto the new platform, a task which is no mean feat! An internally developed platform has many benefits, but above all, it gives us the flexibility to implement our ideas and innovations at speed. As well as flexibility, the new platform helps us with scaling up in a dynamic way, whereas it was a much slower process when we previously used a third-party supplier. If we want to move into new markets, it will be much easier because new customers will be using our own platform from day one. The new platform takes advantage of cutting-edge cloud technology, which is beneficial when it comes to scaling up, and also saves us money. Using the latest technology makes it easier to maintain our technical systems, and also helps us to attract great people who want to work at a truly innovative business! When building our new platform, it was crucial that we did so with a mobile-first attitude. With more and more people using their mobile phones for all aspects of their lives, not only in betting, we needed to ensure that the platform was suitable for mobile app development. Product development can also be faster when you are in control of your own platform, which means the delivery of our product development strategy is now firmly in our hands. When it comes to product development, we tend to have a pipeline looking six months into the future, and is tailor-made to the various countries we operate in. For example, in one market we might need to promote egaming or esports, whilst in another, it is more important to promote UFC. This is where an in-house platform truly comes into its own. We have the freedom to adapt to each of our brands in different markets very quickly. Of course, Parimatch’s customers have no idea all this work is happening in the background, as the new platform still has the same look, feel, functionality and great betting experience that they are used to!

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Regulatory compliance at Parimatch

Disruption and risk-taking are in our DNA… but not when it comes to regulatory compliance. Maksym Liashko explains. At Parimatch we are proud of our culture of risk-taking, breaking conventions and daring to be different to best support our customers. However, one area where to do not push boundaries or break rules is compliance. We are challenging big brands to become one of the leading players in the CIS region but we are doing this through the quality of our product and increasing brand awareness via marketing strategies, not by taking short-cuts. We actually feel that compliance is an important asset to help maximize the value of the company in the long-term by improving our brand reputation with customers and stakeholders alike. With compliance, our approach is to strike a balance and achieve a “win-win-win” with our client, the regulator in the market and our company. Each party should be happy. Sometimes there exist cases when a company aims to meet the regulator’s requirements and the players’ rights when it is not practicable operationally. We aim to strike a balance where players` interests are taken into account. For example, we always consider factors like service usability and ease of registration – and how we can improve them within the boundaries of local regulations. This year our 350 strong IT team have developed a new software platform and brand design which we are launching across our operation. Although the focus of the design is to improve the efficiency and customer experience of our operations, including our consumer user interface. Our new platform will also provide a flexible platform to support any changes that we need to make to meet new regulatory changes at a software level making it easier for us to integrate them into our operations. One of the best ways for us to achieve the win, win, win scenario is by developing a good dialogue and working relationship with the regulators in the countries where we operate. It is very much a two-way process. The regulator is interested in our opinion on market developments and understanding best practices from our experiences operating in many different markets. Furthermore, when we are launching a new product or process, the dialogue can ensure that we are aligned at the concept level. On the other side, they give us advance warning on any regulatory developments, allowing time for feedback, preparation, and implementation. If we are entering a new market, we work with the regulator to analyze all their requirements and integrate them into our IT platform and bring them to automation before launching. If the platform is not ready and we need to implement some regulatory requirements manually and quickly then we risk making mistakes. One market where we hope to use our new software platform to develop automated processes for new regulations is Ukraine. The new president of the country has expressed interest in reforming the legislation that regulates gambling, allowing compliant and responsible betting companies to obtain local licenses. We are making great efforts to share all our knowledge about the regulation of gambling in different countries and their preparation of draft laws to support any reforms – and look forward seeing the progress in the coming years. Maksym Liashko, Partner and Legal Director.

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Regulatory compliance at Parimatch

Disruption and risk-taking are in our DNA… but not when it comes to regulatory compliance. Maksym Liashko explains. At Parimatch we are proud of our culture of risk-taking, breaking conventions and daring to be different to best support our customers. However, one area where to do not push boundaries or break rules is compliance. We are challenging big brands to become one of the leading players in the CIS region but we are doing this through the quality of our product and increasing brand awareness via marketing strategies, not by taking short-cuts. We actually feel that compliance is an important asset to help maximize the value of the company in the long-term by improving our brand reputation with customers and stakeholders alike. With compliance, our approach is to strike a balance and achieve a “win-win-win” with our client, the regulator in the market and our company. Each party should be happy. Sometimes there exist cases when a company aims to meet the regulator’s requirements and the players’ rights when it is not practicable operationally. We aim to strike a balance where players` interests are taken into account. For example, we always consider factors like service usability and ease of registration – and how we can improve them within the boundaries of local regulations. This year our 350 strong IT team have developed a new software platform and brand design which we are launching across our operation. Although the focus of the design is to improve the efficiency and customer experience of our operations, including our consumer user interface. Our new platform will also provide a flexible platform to support any changes that we need to make to meet new regulatory changes at a software level making it easier for us to integrate them into our operations. One of the best ways for us to achieve the win, win, win scenario is by developing a good dialogue and working relationship with the regulators in the countries where we operate. It is very much a two-way process. The regulator is interested in our opinion on market developments and understanding best practices from our experiences operating in many different markets. Furthermore, when we are launching a new product or process, the dialogue can ensure that we are aligned at the concept level. On the other side, they give us advance warning on any regulatory developments, allowing time for feedback, preparation, and implementation. If we are entering a new market, we work with the regulator to analyze all their requirements and integrate them into our IT platform and bring them to automation before launching. If the platform is not ready and we need to implement some regulatory requirements manually and quickly then we risk making mistakes. One market where we hope to use our new software platform to develop automated processes for new regulations is Ukraine. The new president of the country has expressed interest in reforming the legislation that regulates gambling, allowing compliant and responsible betting companies to obtain local licenses. We are making great efforts to share all our knowledge about the regulation of gambling in different countries and their preparation of draft laws to support any reforms – and look forward seeing the progress in the coming years. Maksym Liashko, Partner and Legal Director.

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Parimatch CEO Sergey Portnov places his bets on the future of sports bookmaking

Change is on the horizon - very soon there will be over 100 new betting sites targeting the 18-25 years old demographic, representing a 70% chance. As a result of such a saturated market and shifting dynamics; user experience, marketing strategy, and a risk-taking approach will become vital to bookmakers’ competitiveness, let alone gaining market share. Speaking at World Gaming Executive Summit 2019, Sergey Portnov gave his take on what is coming down the line for sports betting. Sports betting is booming, driven by increased accessibility (mobile betting), emerging games (eSports) and advances in technology (improved user interface). With growing marketing budgets and loan-to-value ratio, bookmakers will become a unique source of sports and game content. Betting businesses will run sport competitions to ensure an “always-on” live-betting proposition, meaning that fast sports will dominate. In order to drive innovation and re-energize company culture, many betting businesses will also transform their senior leadership teams. Leaders will need to be willing to take risks, be hungry for success and move away from the status quo. The probability of such changes is 62%. With new leaders will also come new vision, and major bookmakers will reconsider branding, adapting their brand voice and product offering to appeal to the new generation of players. The next major industry shift will be in payments, with the launch of new payment solutions. Bookmakers will finally start building USPs around payment methods. In the past few years, the online gaming industry has been driving innovation in online payments and global payment technology has allowed betting providers to expand into new markets quickly. However it is no longer enough for payments to be safe and secure; payments must be quick, allowing for withdrawal in minutes, with next-level integration with PSPs and banks. In this way, payments will be a key differentiator between bookmarkers – even more important than odds. Sports streaming will also be disrupted, for the better. Streaming will become higher quality, with HD visuals, a highlights feed, interactive stream and capability for replays. Increasingly, customers want access to a variety of broadcasts, with no time delays, in order to facilitate a wide-ranging and seamless live-betting experience. There’s lots of debate around offshore markets vs regulated markets. It’s a fact that offshore markets grow faster – they have the flexibility to adapt and establish their own ways of operating. This trend will continue as long as players in these markets are unrestricted by regulation – which is often when payment solutions and digital marketing perform best. Finally, and this will surprise and scare many in equal measures, cybersport will no longer be the newcomer, and will account for 10% of revenue for betting operators. The industry is worth over $1 billion in marketing revenue and attracts a loyal young audience. Fans flock from all over the world to major tournaments, and so we will see more and more sponsors capitalize on the meteoric rise in the sport’s popularity. One thing is for sure, the tide is turning and bookmakers face two options: innovate or die.

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Parimatch CEO Sergey Portnov places his bets on the future of sports bookmaking

Change is on the horizon - very soon there will be over 100 new betting sites targeting the 18-25 years old demographic, representing a 70% chance. As a result of such a saturated market and shifting dynamics; user experience, marketing strategy, and a risk-taking approach will become vital to bookmakers’ competitiveness, let alone gaining market share. Speaking at World Gaming Executive Summit 2019, Sergey Portnov gave his take on what is coming down the line for sports betting. Sports betting is booming, driven by increased accessibility (mobile betting), emerging games (eSports) and advances in technology (improved user interface). With growing marketing budgets and loan-to-value ratio, bookmakers will become a unique source of sports and game content. Betting businesses will run sport competitions to ensure an “always-on” live-betting proposition, meaning that fast sports will dominate. In order to drive innovation and re-energize company culture, many betting businesses will also transform their senior leadership teams. Leaders will need to be willing to take risks, be hungry for success and move away from the status quo. The probability of such changes is 62%. With new leaders will also come new vision, and major bookmakers will reconsider branding, adapting their brand voice and product offering to appeal to the new generation of players. The next major industry shift will be in payments, with the launch of new payment solutions. Bookmakers will finally start building USPs around payment methods. In the past few years, the online gaming industry has been driving innovation in online payments and global payment technology has allowed betting providers to expand into new markets quickly. However it is no longer enough for payments to be safe and secure; payments must be quick, allowing for withdrawal in minutes, with next-level integration with PSPs and banks. In this way, payments will be a key differentiator between bookmarkers – even more important than odds. Sports streaming will also be disrupted, for the better. Streaming will become higher quality, with HD visuals, a highlights feed, interactive stream and capability for replays. Increasingly, customers want access to a variety of broadcasts, with no time delays, in order to facilitate a wide-ranging and seamless live-betting experience. There’s lots of debate around offshore markets vs regulated markets. It’s a fact that offshore markets grow faster – they have the flexibility to adapt and establish their own ways of operating. This trend will continue as long as players in these markets are unrestricted by regulation – which is often when payment solutions and digital marketing perform best. Finally, and this will surprise and scare many in equal measures, cybersport will no longer be the newcomer, and will account for 10% of revenue for betting operators. The industry is worth over $1 billion in marketing revenue and attracts a loyal young audience. Fans flock from all over the world to major tournaments, and so we will see more and more sponsors capitalize on the meteoric rise in the sport’s popularity. One thing is for sure, the tide is turning and bookmakers face two options: innovate or die.

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16 April 2019

Are you still wasting money on low-quality traffic?

With the rise of internet gambling, the number of people looking to commit fraud against bookmakers has increased. To stay ahead of the game new and innovative technology needs to be employed to avoid the negative impact of affiliate programme fraudsters on a business. An expert from international online betting holding Parimatch explains how it tackles fraudulent behavior. Why do online gambling businesses, in particular, attract fraudulent behavior? The main aim of fraudsters in affiliate programmes is to earn money, even if it is illegal. These fraudulent programmes attract low-quality traffic which bookmakers are paying for up until the business can identify that the traffic is not genuine. How is it possible to identify a fraudster from a legitimate customer? Affiliate programme fraudsters are divided into two types – “multi-accounting” and “bonus hunting.” Multi-accounting is the act of creating multiple accounts by one person. Usually, after registration and the first deposit – account activity diminishes. The bookmaker pays for each account created, so the generation of more than one account per user is a financial loss for the business. Bonus hunters are users who only play bonus-based games. As soon as they cash their bonus in, their account activity reduces to zero. Is it possible for a business to protect itself from this kind of fraudulent behavior? It is possible. Bookmakers should look to analyze and identify user behavior patterns in the early stages, to identify any potential fraudulent account activity. What does Parimatch do to protect itself from these kinds of fraudsters? In addition to using automated fraud detection programmers, Parimatch employs specialists whose primary task is to pre-assess the quality of each account created. The exact details of this process are confidential. Looking to the future, Parimatch plans to implement “fingerprint technology,” which can detect the unique online “imprint” of internet users. Thanks to this innovative technology, it will be possible to track and act against large scale fraudsters. Is it possible to completely stop any fraudulent activity? Unfortunately, it is impossible to eradicate low-quality traffic in affiliate programmes completely. If there is a way to earn easy money, fraudsters will always find it. The best a business can do to protect itself is to detect anomalies in user behavior as early as possible.

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16 April 2019

Are you still wasting money on low-quality traffic?

With the rise of internet gambling, the number of people looking to commit fraud against bookmakers has increased. To stay ahead of the game new and innovative technology needs to be employed to avoid the negative impact of affiliate programme fraudsters on a business. An expert from international online betting holding Parimatch explains how it tackles fraudulent behavior. Why do online gambling businesses, in particular, attract fraudulent behavior? The main aim of fraudsters in affiliate programmes is to earn money, even if it is illegal. These fraudulent programmes attract low-quality traffic which bookmakers are paying for up until the business can identify that the traffic is not genuine. How is it possible to identify a fraudster from a legitimate customer? Affiliate programme fraudsters are divided into two types – “multi-accounting” and “bonus hunting.” Multi-accounting is the act of creating multiple accounts by one person. Usually, after registration and the first deposit – account activity diminishes. The bookmaker pays for each account created, so the generation of more than one account per user is a financial loss for the business. Bonus hunters are users who only play bonus-based games. As soon as they cash their bonus in, their account activity reduces to zero. Is it possible for a business to protect itself from this kind of fraudulent behavior? It is possible. Bookmakers should look to analyze and identify user behavior patterns in the early stages, to identify any potential fraudulent account activity. What does Parimatch do to protect itself from these kinds of fraudsters? In addition to using automated fraud detection programmers, Parimatch employs specialists whose primary task is to pre-assess the quality of each account created. The exact details of this process are confidential. Looking to the future, Parimatch plans to implement “fingerprint technology,” which can detect the unique online “imprint” of internet users. Thanks to this innovative technology, it will be possible to track and act against large scale fraudsters. Is it possible to completely stop any fraudulent activity? Unfortunately, it is impossible to eradicate low-quality traffic in affiliate programmes completely. If there is a way to earn easy money, fraudsters will always find it. The best a business can do to protect itself is to detect anomalies in user behavior as early as possible.

Reading Time: 2 minutes
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22 October 2018

Relocating to Cyprus: The Human Factor

Two years ago, Parimatch, an international holding company with offices in seven countries, decided to transfer its Head office to Limassol. Relocate your employee wisely. HR team in the expansion process. Deciding to expand a business to international markets is both exciting and intimidating. This process requires extensive resources, and sometimes it is hard to accomplish great results in short terms. Parimatch is an international Holding with land-based offices in seven countries around the world. Two years ago we relocated our Head office and some of the key employees to Limassol, Cyprus within three months. The brightest ideas and the best business plans can fail if a company doesn`t have people or the employees aren`t motivated and satisfied. That is why Parimatch has a deep conviction that the HR Manager is the second most important person after a domestic executive partner or general manager in the process of launching a new foreign office. Moreover, the HR Manager should be native to the country where the office opens in and should have vast experience. It is essential to find one while forming a local team. Of course, recruiting can be done remotely using agencies. The purpose is not only to recruit but also to retain the company's most important asset – people. Indeed, that is a job for a professional and reputable HR Manager. The HR Manager creates an HR team, which plays a role of the fair judge between the employee and the organization so both could benefit. When native to the region, the HR team becomes essential during the relocation of employees from another country. All organizational questions (taxes, place to live, medicine, etc.) can only be answered by a person who is native to the region. Local HR team helps to solve these issues for the employees, so they can freely engage into the working process as soon as possible. While relocating employees, you should take into account that changing a place of residence even because of a highly paid work, is always a risk and a doubt for a person. Therefore, if an employee is of high importance for the company you should provide more care, show your concern, give something that is worth changing life and foundations. Money is not always the best motivation. The other important mission of the HR team is to adopt cultures, manage them and create a comfortable environment for everyone. It is a great challenge to unite people from different cultures with different mentalities into a productive and successful team! It is the primary challenge for the HR team in conditions of global mobility. Having decided to move our Head office to Cyprus, we`ve managed our policies according to the legal environment of the region, obtained a license and stick to our responsibilities before the government and society. Parimatch contributes to the local communities through our CSR activities. We have already held activities helping local schools and charity funds (Sophia Foundation, "Let's Hippo" project, visited Iacovou Swimming Centre). We contribute to sports. Parimatch is the main partner of the local FC APOEL and the sponsor of the new training center Parimatch - Archangelos. Parimatch is a reliable employer who invests in their people and creates comfortable conditions for them. We have already established our own "world" in one of the business centers in Limassol, where the relocated employees and the local specialists work comfortably side-by-side. We have created a unique culture where it is easy to develop, share experiences and create new assets. Now we can state that if we had not formed the local HR team first, we would have been ten steps back from where we are now.

Reading Time: 3 minutes
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22 October 2018

Relocating to Cyprus: The Human Factor

Two years ago, Parimatch, an international holding company with offices in seven countries, decided to transfer its Head office to Limassol. Relocate your employee wisely. HR team in the expansion process. Deciding to expand a business to international markets is both exciting and intimidating. This process requires extensive resources, and sometimes it is hard to accomplish great results in short terms. Parimatch is an international Holding with land-based offices in seven countries around the world. Two years ago we relocated our Head office and some of the key employees to Limassol, Cyprus within three months. The brightest ideas and the best business plans can fail if a company doesn`t have people or the employees aren`t motivated and satisfied. That is why Parimatch has a deep conviction that the HR Manager is the second most important person after a domestic executive partner or general manager in the process of launching a new foreign office. Moreover, the HR Manager should be native to the country where the office opens in and should have vast experience. It is essential to find one while forming a local team. Of course, recruiting can be done remotely using agencies. The purpose is not only to recruit but also to retain the company's most important asset – people. Indeed, that is a job for a professional and reputable HR Manager. The HR Manager creates an HR team, which plays a role of the fair judge between the employee and the organization so both could benefit. When native to the region, the HR team becomes essential during the relocation of employees from another country. All organizational questions (taxes, place to live, medicine, etc.) can only be answered by a person who is native to the region. Local HR team helps to solve these issues for the employees, so they can freely engage into the working process as soon as possible. While relocating employees, you should take into account that changing a place of residence even because of a highly paid work, is always a risk and a doubt for a person. Therefore, if an employee is of high importance for the company you should provide more care, show your concern, give something that is worth changing life and foundations. Money is not always the best motivation. The other important mission of the HR team is to adopt cultures, manage them and create a comfortable environment for everyone. It is a great challenge to unite people from different cultures with different mentalities into a productive and successful team! It is the primary challenge for the HR team in conditions of global mobility. Having decided to move our Head office to Cyprus, we`ve managed our policies according to the legal environment of the region, obtained a license and stick to our responsibilities before the government and society. Parimatch contributes to the local communities through our CSR activities. We have already held activities helping local schools and charity funds (Sophia Foundation, "Let's Hippo" project, visited Iacovou Swimming Centre). We contribute to sports. Parimatch is the main partner of the local FC APOEL and the sponsor of the new training center Parimatch - Archangelos. Parimatch is a reliable employer who invests in their people and creates comfortable conditions for them. We have already established our own "world" in one of the business centers in Limassol, where the relocated employees and the local specialists work comfortably side-by-side. We have created a unique culture where it is easy to develop, share experiences and create new assets. Now we can state that if we had not formed the local HR team first, we would have been ten steps back from where we are now.

Reading Time: 3 minutes
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29 April 2018

12 main features of "Employer of Choice"

The "Employer of Choice" attempts to provide an employee with the salary and benefits equal or even higher to those on the market. Most "Employers of Choice" offer a competitive pay package, add benefits to their employees, such as health insurance, paid sick leaves and holidays. Some employers can be recognized as "Employers of Choice" without these assets. However, they should have a strong vision in place. "Employer of Choice" key roles: Job security: Employees feel confident that their employer is financially healthy and they do not worry about losing their jobs. Instead, they focus on their goals and core tasks without worrying about job security. Empowerment and Authority: Employees have the power to make decisions and take responsibility for their work. They also know and have at their disposal the strategy of the company. They control their choices and the performance of the core responsibilities which makes progress in their goals. Respect: Employee may not always be right, and his/her ideas do not determine the direction and choices of the company, but with an "Employer of Choice," employee feels the respect from the superiors and colleagues, regardless of his/her position, gender, age, and nationality. Opportunity for Growth: From an “Employer of Choice”, employees feel encouraged to continue to develop their skills and careers. These employers offer planning of employee performance development and the opportunities for internal and external training. Assigning their work from the management side helps them to expand their skills. Access to Information: "Employers of Choice" share information with employees and this leads to the successful strategy outlined above. Employees feel like they are members of the team because they know what's going on. Commitment: “Employers of Choice” are committed to their employees and customers. This is reflected in many areas, in particular in Human Resources policies. The engagement is applied to strategies for retaining and motivating employees, for example, with free meals and drinks or corporate events. Involvement: In an “Employer of Choice” company, employees feel they have the opportunity to participate, make suggestions, think new products or service innovations, serve in employee committees to plan their events and company strategies, attend appropriate meetings and give advice on working processes that affect the company's strategy. Positive Relationships with Coworkers: The Gallup survey finds that employees are likely to have a good friend at work. On a larger scale, in an "Employer of Choice," collaborators enjoy working together. The organization treats a bad boss before he or she can adversely affect employees and the culture of work. Remember that workers usually leave bosses more than anything else in their workplace. They resign from their bosses rather than from the company. Work-Life Balance: An "Employer of Choice" provides privileges for work-life balance, such as flexible working hours, allowing employees to work uninterruptedly from their family and personal life events. These privileges minimize workers' stress levels and help them achieve the challenges of life more efficiently. Performance-Culture: An "Employer of Choice" finds ways to link the performance and interests of employees to those of the employer. For example, creating a reward system allows to reward employees` performance accordingly and provides regular guidance and feedback to them. Fairness: Perceptions of unfair treatment or workplace that favors certain persons over others for unknown and unclear reasons is a feature that does not exist in an "Employer of Choice." Employers must develop and implement their policies fairly, treat employees equally and make clear guidelines in the workplace. Recognition: “Employers of Choice” provide feedback to employees about their performance, growth prospects, achievements, and aspects that need improvement. One of the most potent forms of motivation is the recognition of workers. For an "Employer of Choice, "attention is systematic, aims at real success and is used to enhance positive, desirable behavior while helping them achieve their personal and professional goals. Of course, we indicated not all the characteristics of an "Employer of Choice," but if we consider that we will achieve a significant number of the above in our company, we are on the right track to successfully become an "Employer of Choice" that attracts and retains the best talents! Reputation as a good employer will surely yield from the preference of Human Resources. Companies must dare to become “Employers of Choice” to be able to have their talents and potential candidates. That is precisely what we aim to achieve in Parimatch!

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29 April 2018

12 main features of "Employer of Choice"

The "Employer of Choice" attempts to provide an employee with the salary and benefits equal or even higher to those on the market. Most "Employers of Choice" offer a competitive pay package, add benefits to their employees, such as health insurance, paid sick leaves and holidays. Some employers can be recognized as "Employers of Choice" without these assets. However, they should have a strong vision in place. "Employer of Choice" key roles: Job security: Employees feel confident that their employer is financially healthy and they do not worry about losing their jobs. Instead, they focus on their goals and core tasks without worrying about job security. Empowerment and Authority: Employees have the power to make decisions and take responsibility for their work. They also know and have at their disposal the strategy of the company. They control their choices and the performance of the core responsibilities which makes progress in their goals. Respect: Employee may not always be right, and his/her ideas do not determine the direction and choices of the company, but with an "Employer of Choice," employee feels the respect from the superiors and colleagues, regardless of his/her position, gender, age, and nationality. Opportunity for Growth: From an “Employer of Choice”, employees feel encouraged to continue to develop their skills and careers. These employers offer planning of employee performance development and the opportunities for internal and external training. Assigning their work from the management side helps them to expand their skills. Access to Information: "Employers of Choice" share information with employees and this leads to the successful strategy outlined above. Employees feel like they are members of the team because they know what's going on. Commitment: “Employers of Choice” are committed to their employees and customers. This is reflected in many areas, in particular in Human Resources policies. The engagement is applied to strategies for retaining and motivating employees, for example, with free meals and drinks or corporate events. Involvement: In an “Employer of Choice” company, employees feel they have the opportunity to participate, make suggestions, think new products or service innovations, serve in employee committees to plan their events and company strategies, attend appropriate meetings and give advice on working processes that affect the company's strategy. Positive Relationships with Coworkers: The Gallup survey finds that employees are likely to have a good friend at work. On a larger scale, in an "Employer of Choice," collaborators enjoy working together. The organization treats a bad boss before he or she can adversely affect employees and the culture of work. Remember that workers usually leave bosses more than anything else in their workplace. They resign from their bosses rather than from the company. Work-Life Balance: An "Employer of Choice" provides privileges for work-life balance, such as flexible working hours, allowing employees to work uninterruptedly from their family and personal life events. These privileges minimize workers' stress levels and help them achieve the challenges of life more efficiently. Performance-Culture: An "Employer of Choice" finds ways to link the performance and interests of employees to those of the employer. For example, creating a reward system allows to reward employees` performance accordingly and provides regular guidance and feedback to them. Fairness: Perceptions of unfair treatment or workplace that favors certain persons over others for unknown and unclear reasons is a feature that does not exist in an "Employer of Choice." Employers must develop and implement their policies fairly, treat employees equally and make clear guidelines in the workplace. Recognition: “Employers of Choice” provide feedback to employees about their performance, growth prospects, achievements, and aspects that need improvement. One of the most potent forms of motivation is the recognition of workers. For an "Employer of Choice, "attention is systematic, aims at real success and is used to enhance positive, desirable behavior while helping them achieve their personal and professional goals. Of course, we indicated not all the characteristics of an "Employer of Choice," but if we consider that we will achieve a significant number of the above in our company, we are on the right track to successfully become an "Employer of Choice" that attracts and retains the best talents! Reputation as a good employer will surely yield from the preference of Human Resources. Companies must dare to become “Employers of Choice” to be able to have their talents and potential candidates. That is precisely what we aim to achieve in Parimatch!

Reading Time: 3 minutes
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27 April 2018

Employer of Choice

With each year corporate culture becomes more and more popular in huge, innovative companies. Employers take care of inside the company`s life and invest a lot of different recourses in their employees. That’s why Parimatch keeps an eye on the pulse of events and always creates new activities for their «working family». The Human Resources team of Parimatch, headed by the Group HR Director, Marianna Chatziantoniou organized a corporate, an outdoor game on April 3, 2018, attended by the Senior Management and all employees of Parimatch. The lost treasure hunt took place in the center of Limassol (Old Town, Molos area and Limassol Marina). The group participants had a "mission" to complete the game, compete and work together to solve the puzzles as a team. The objective of Human Resources Group (Ms. Marianna Chatziantoniou, Katerina Psyllou, Christoforos Attikouri, and Rafael Meliniotis) was to encourage cooperation, communication, strategy, and teamwork, enhancing the interpersonal skills of the employees together with improving collaboration! An "Employer of Choice" is an employer that offers a corporate culture and work environment that attracts and retains the best talents. The characteristics of the particular work environment benefit the well-being and the right balance of work and personal life of employees and customers of a company. Moreover, that's precisely the primary purpose of Parimatch! Becoming an "Employer of Choice" in the Cypriot market. It is important to note that not all "Employers of Choice" match each employee. For example, Google is known to be the "Employer of Choice." However, there are examples of people who do not like Google's corporate culture because they feel they are obliged to engage in social activities that do not interest or match them. Of course, other employees of the same company enjoy the Google culture environment. Parimatch is Employer of Choice! "Employers of Choice" have much in common. Their main feature is that they are not the same to different employees. To be happy and work in harmony an employee has to find his own "Employer of Choice" - whatever that means.

Reading Time: 2 minutes
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HOT
27 April 2018

Employer of Choice

With each year corporate culture becomes more and more popular in huge, innovative companies. Employers take care of inside the company`s life and invest a lot of different recourses in their employees. That’s why Parimatch keeps an eye on the pulse of events and always creates new activities for their «working family». The Human Resources team of Parimatch, headed by the Group HR Director, Marianna Chatziantoniou organized a corporate, an outdoor game on April 3, 2018, attended by the Senior Management and all employees of Parimatch. The lost treasure hunt took place in the center of Limassol (Old Town, Molos area and Limassol Marina). The group participants had a "mission" to complete the game, compete and work together to solve the puzzles as a team. The objective of Human Resources Group (Ms. Marianna Chatziantoniou, Katerina Psyllou, Christoforos Attikouri, and Rafael Meliniotis) was to encourage cooperation, communication, strategy, and teamwork, enhancing the interpersonal skills of the employees together with improving collaboration! An "Employer of Choice" is an employer that offers a corporate culture and work environment that attracts and retains the best talents. The characteristics of the particular work environment benefit the well-being and the right balance of work and personal life of employees and customers of a company. Moreover, that's precisely the primary purpose of Parimatch! Becoming an "Employer of Choice" in the Cypriot market. It is important to note that not all "Employers of Choice" match each employee. For example, Google is known to be the "Employer of Choice." However, there are examples of people who do not like Google's corporate culture because they feel they are obliged to engage in social activities that do not interest or match them. Of course, other employees of the same company enjoy the Google culture environment. Parimatch is Employer of Choice! "Employers of Choice" have much in common. Their main feature is that they are not the same to different employees. To be happy and work in harmony an employee has to find his own "Employer of Choice" - whatever that means.

Reading Time: 2 minutes
Read more