{"id":3186,"date":"2022-03-11T14:00:54","date_gmt":"2022-03-11T14:00:54","guid":{"rendered":"https:\/\/www.newbettingsites.co\/?p=3186"},"modified":"2022-03-11T14:01:01","modified_gmt":"2022-03-11T14:01:01","slug":"bet365-and-parimatch-exit-russian-market","status":"publish","type":"post","link":"https:\/\/www.newbettingsites.co\/bet365-and-parimatch-exit-russian-market\/","title":{"rendered":"Bet365 and Parimatch Exit Russian Market Due To Ukraine Invasion"},"content":{"rendered":"
Much of the world\u2019s news recently has centred on the Russian invasion of Ukraine, which was ordered by President Vladimir Putin and began on February 24. Every day since then, it has become clearer that the war taking place has had a huge impact on Ukraine, and it has been condemned by world leaders from multiple countries. As a result of Putin\u2019s advance into Ukraine from multiple directions, various sanctions have been imposed on Russia, and multiple companies have ceased doing business with the country.<\/p>\n
Burger King has ended corporate support locations in Russia, and the import and export of vehicles from the Jeep, Fiat and Peugeot brands have also been suspended. Other brands to have pulled out of or suspended activity in Russia<\/a> include Unilever \u2013 which owns brands like Dove and Sunsilk \u2013 Ikea, H&M, TJX \u2013 which owns T.J. Maxx and Marshalls \u2013 Adidas, Shell, BP, Goldman Sachs, Western Union, American Express, Mastercard and Visa, Mars, McDonald\u2019s, Netflix, PepsiCo, Sony, Uber, Hilton, and many more.<\/p>\n And it seems as though gambling companies aren\u2019t settling for the simple route of just continuing on as normal. With global condemnation of Russia\u2019s invasion continuing, a variety of international bookies have ceased operations in the country. Parimatch, which is based in Cyprus but was founded in Kyiv, announced it is withdrawing its Russian franchise earlier on in March, as did Bet365.<\/p>\n Parimatch released its own statement on March 1 regarding the Ukraine invasion by Russia. Within that statement, it confirmed that it had prepared and delivered termination documents to Betring LLC, which has been responsible for providing Parimatch operations in the country since 2016. It went on to say that it is also continuing to develop more restrictions on the use of its brand in sponsorship contracts. Currently, Parimatch serves as a local sponsor for Spain\u2019s La Liga in the CIS region \u2013 Russia is the largest territory within that zone.<\/p>\n \u201cWe have always been proud of the Ukrainian roots of our company, and in these difficult times we are even more overwhelmed by love for our native country\u201d,<\/p><\/blockquote>\n the statement from Parimatch noted. It then went on to condemn the Russian invasion before announcing the launch of its UAH 30 million fund, equating to around \u00a3767,000. This, it said, would all go towards providing direct support to the Ukrainian Armed Forces.<\/p>\n Parimatch was founded in Kyiv back in 1994, which was three years after Ukraine gained its independence from the Soviet Union. It served as one of the very first online businesses in the country and in 2021, it became the first betting company in the country to buy a licence<\/a> following new legislation being adopted by parliament.<\/p>\n While nothing was outrightly confirmed by Bet365 initially, Russian sources provided information regarding the betting company\u2019s status within. The global betting giant reportedly halted all services in Russia, with clients based in the country having until Tuesday, March 15 to withdraw funds from their accounts.<\/p>\n Later on, it was discovered that Bet365 had informed all of its partners to stop using logos, banners and marketing materials that could be utilised to promote the brand within Russia. No official reason was provided by Bet365 as to why operations were stopped in the country, although it is likely to be for the same reason as Parimatch.<\/p>\n And these aren\u2019t the only gambling companies to have taken action against the Russia-Ukraine war. Many sports organisations have taken significant decisions against Russia, including FIFA, UEFA and the National Hockey League (NHL). Russia will not be able to compete in the 2022 FIFA World Cup<\/a> or the UEFA Champions League, with the latter\u2019s location being changed from the former St Petersburg Gazprom Arena. All NHL business deals in Russia have also been suspended. Additionally, Formula 1 has terminated its contract with the Russian Grand Prix.<\/p>\n The Polish sports data company known as Statscore has also pulled its operations away from Russia, stating that it is no longer supplying the country with statistics and updates from Russian or Belorussian sports events.<\/p>\nParimatch Makes a Bold Statement<\/h2>\n
Bet365 and Others Follow Suit<\/h2>\n