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Is Parimatch Indian?

Parimatch is an international sports betting company in Europe with headquarters in Limassol, Cyprus, founded in 1994.

en.wikipedia.org - Parimatch - Wikipedia

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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Parimatch is an international sports betting company in Europe with headquarters in Limassol, Cyprus, founded in 1994.

History [ edit ]

Parimatch was established in 1994 in Kyiv, Ukraine. The company entered the Russian market in 1998. Online betting website was launched in 2000 and was one the first among bookmakers in the CIS region.[2] In September 2015, Parimatch entered the Kazakhstan market and began cooperation with Federbet to prevent match fixing.[3] In 2018, the company began operations in Tanzania[4] and Cyprus.[5] In December 2018, Parimatch's CEO, Sergey Portnov won 'Leader of the year award' at the SBC Awards held in London.[6] In February 2020, the company joined the Esports Integrity Commission to assist with battling cheating and fraud in esports.[7] In June 2021, Parimatch expanded operations across India.[8] In March 2021, Parimatch became the first betting company in Ukraine to buy a license after a new law regulation was adopted by the local parliament.[9][10][11] In December 2021, Parimatch acquired the performance marketing organisation Mr Fish in addition to online poker room PokerMatch.[12] In March, 2022 Parimatch withdrawn the franchise from Russia due to the full-scale military invasion into Ukraine.[13][14] Following this, In May 2022, Parimatch announced they had organised the Parimatch Foundation and had allocated €510,000 to support the people of Ukraine. The foundation while originally set up for educational and sports projects has re-allocated its resources toward helping Ukrainian woman and children during the humanitarian crisis.[15] In April 2022, Parimatch announced a restructure to their management, appointing Maksym Liashko as the new CEO of the organisation as Roman Syrotian (former CEO) stepped into a supervisory role.[16] In May 2022, Parimatch continued with the companies plan for international expansion via opening a new European hub in Prague. Additionally, the new office gave the opportunity to provide a working environment for the company employees from the Ukraine. The previous company R&D centre was in Kyiv but has been relocated for safety reasons due to military activity around the capital.[17]

License [ edit ]

Parimatch operates under local licenses issued by the regulatory authorities of each country in Cyprus, Kazakhstan, Tajikistan and Tanzania.[18] Parimatch brand was represented in Russia[19] and Belarus, but in 2022 the brand announced withdrawal the local franchises due to the full-scale military invasion into Ukraine.[20][21] The company also carries out its activity under the international license of self-governing territory Curaçao (eGaming) On October 1, 2020, Parimatch launched into the UK market with their website being run by BV Gaming Limited.

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How much gambling income is taxable?

Whether it's $5 or $5,000, from the track, an office pool, a casino or a gambling website, all gambling winnings must be reported on your tax return as "other income" on Schedule 1 (Form 1040) (opens in new tab). If you win a non-cash prize, such as a car or a trip, report its fair market value as income.

kiplinger.com - 8 Tax Tips for Gambling Winnings and Losses - Kiplinger

Your Losses Might Be Deductible

Did you have a bad night at the blackjack table or pick the wrong horse to win? There's a possible silver lining if you lose a bet or two — your gambling losses might be deductible. (Gambling losses include the actual cost of wagers plus related expenses, such as travel to and from a casino or other gambling establishment.) There are a couple of important catches, though. First, unless you're a professional gambler (more on that in a second), you have to itemize in order to deduct gambling losses (itemized deductions are claimed on Schedule A (opens in new tab)). Unfortunately, most people don't itemize. So, if you claim the standard deduction, you're out of luck twice — once for losing your bet and once for not being able to deduct your gambling losses. Second, you can't deduct gambling losses that are more than the winnings you report on your return. For example, if you won $100 on one bet but lost $300 on a few others, you can only deduct the first $100 of losses. If you were totally down on your luck and had absolutely no gambling winnings for the year, you can't deduct any of your losses. If you're a professional gambler, you can deduct your losses as business expenses on Schedule C (opens in new tab) without having to itemize. However, a note of caution: An activity only qualifies as a business if your primary purpose is to make a profit and you're continually and regularly involved in it. Sporadic activities or hobbies don't qualify as a business.

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