Parimatch sanctioned in Ukraine despite community service

Ukraine has sanctioned Parimatch and over 400 people and organizations related to betting and lotteries. [Image: Shutterstock.com]

Gambling-Related Sanctions

Despite its charitable work for the war effort, Parimatch was sanctioned by Ukrainian President Volodymyr Zelensky, forcing the company to close operations in its home country. The sportsbook is just one of 287 gambling-related legal entities sanctioned by Ukraine, along with 120 individuals.

President Zelenskyy signed Decree No. 145/2023 setting sanctions announced by the National Security and Defense Council of Ukraine on Friday.

funded various Russian programs.”

In a statement, Zelensky said that the sanctioned individuals and organizations “worked against Ukraine through gambling deals, drained funds from our state and funded various Russian schemes.”

Other legal entities sanctioned include Betcity, Bet.Ru, Leo Financial Company, Sportbet, Sportloto, PokerMatch UA and Matchbet. The duration of the sanctions imposed on Parimatch and the other companies is 50 years.

Parimatch pulls the plug

On the decision to impose sanctions, Zelensky said it took some time to come to the resolution, but it was “thoroughly drafted and:

finalizes tens of billions worth of plans.”

State enforcers have blocked Parimatch’s website in Ukraine in accordance with sanctions, which industry observers expect will have a significant impact on the betting and lottery industry in Ukraine.

According to UKrinform.net on Monday, Parimatch has now ceased its activities in the country. The company said its next step will be to issue refunds to customers who it claims are getting all of their balances in full. The operator is also looking for a legal mechanism to repay all debts.

A non-profit company

Parimatch – whose co-CEOs Syrotian and Maksym Liashko hail from Ukraine – previously made significant contributions to the war effort in Ukraine. The company’s charitable work included supplying medical equipment, supporting veterans, and helping build military barracks.

In late 2022, Parimatch confirmed that its foundation had raised more than $500,000 to support humanitarian efforts in Ukraine.

In March last year, Parimatch also used its advertising space at Premier League partner clubs such as Chelsea FC to show its support for Ukraine. The advertising space presented the slogan “The World is Against War” with the hashtag #StandForUkraine.