Parimatch has been making a lot of waves with some aggressive advertising in India. As a result, it has gained a lot of new users very quickly. Is Parimatch safe? We believe it to be.
The Public Gambling Act of 1867, which regulates gambling and betting activities in India, deems it illegal for people to bet on any event, except for on horse races. Anyone found breaking this law may be subject to fines, and/or imprisonment. However, in spite of betting being illegal, India sees some of the highest amounts of wagers placed on various sports, with a major chunk of it being bet on cricket matches.
Now, various online betting sites are using the loopholes in the Gambling Act to offer their services to Indian punters. Some of the top betting sites in the world, like Parimatch, are now accessible to Indian players. Currently, there is no specific law governing online betting and gambling, and it remains a grey area, within which such sites operate.
While one can easily bet on a huge collection of sports via Parimatch, it is but obvious that punters might be a bit concerned about the safety and reliability of the site. So let’s see whether it is safe to bet on Parimatch.
Is Parimatch safe?
A brief history of Parimatch
Parimatch started its journey as a brick-and-mortar betting shop back in 1994. It first launched operations in Ukraine, and then gradually expanded to neighboring Russia. It launched the online sportsbook in the year 2000, becoming one of the first such services in the CIS region. The site gradually expanded its footprint globally, and is now accessible from a vast number of countries, including India.
Parimatch has its headquarters in Cyprus, while the website is hosted in Curacao. It holds an international gaming license from the Curacao eGaming Authority to run its operations. In addition to that, the website also holds several local gaming licenses in countries like Cyprus, Belarus, Kazakhstan, Tajikistan, Russia, and Tanzania.
Being regulated by so many bodies means Parimatch is subject to regular audits, which ensures that the website operates in a fair and transparent manner, and honors its commitments regarding the pay-out of winnings, and giving promotional offers as advertised.
The regulators also ensure that the website is in good financial health, and has enough cash reserves to cover any number of withdrawals.
Should the site indulge in unfair practices, it can face stiff fines from these regulators, and in extreme cases, their licenses too could be forfeited. Therefore, Parimatch always strives to take care of its customers.
Verification of accounts
Is Parimatch safe? A lot of it has to do with the fact that Parimatch has a robust account verification process in place for all its players. In order to enjoy the full palette of services that the site offers, and to get the maximum betting and withdrawal limits b the players must verify their accounts by submitting documents like an Aadhar card.
This verification process makes sure that only legitimate players are using the site, and also that your withdrawals land up in the correct accounts.
Parimatch uses industry-standard encryption technology, i.e. 128 bit SSL encryption. All the data exchanged between the players and the website is heavily encrypted so that hackers cannot steal and misuse the personal and financial data of its players.
Customer services can make or break a betting site, and thankfully, Parimatch scores top marks in this department. Should the players encounter any difficulty while using the site, be it related to payments, verification of the account, or any other aspect of the website.
The customer care executives are available 24×7 and can be reached via e-mail, live chat from the website/app, or through social media platforms like Telegram and WhatsApp. What’s more, most of the executives are fluent in English and Hindi. Therefore, Indian players can easily get all their issues resolved.
Is Parimatch safe? Parimatch is one of the safest online sportsbooks available on the internet today. Betting enthusiasts from India should definitely give it a try.