Parimatch, a bookmaker that also operates in the online casino market, announced the sale of its operations in Brazil at the end of 2024. The company will cease all its activities in the country and end all current sponsorship contracts. One of the main motivations for this decision is the betting regulation imposed by the Federal Government.
According to the Lance! portal, the decision is part of the expansion strategy of Growe, the company that owns the brand, in Latin America. Brazil is no longer included in its projections. In addition to the sale of Parimatch to VBet, which took over sponsorship of Botafogo, other contracts are also coming to an end.
Stock Car Brasil, which had Parimatch as its master sponsor, will no longer be associated with the company. The same goes for some brand ambassadors.
In the case of Botafogo, the sponsorship agreement ‘migrated’ from Parimatch to VBet, which is now the club’s master sponsor. Therefore, platform users were also transferred to the new operator.
Stock Car is in the process of renewing its contracts for the 2025 season. The category is negotiating with VBet, owner of Parimatch operations, to include the brand among its sponsors.
Reasons that led Parimatch to close activities in Brazil
Growe explained that the decision to leave Brazil follows the path of other bookmakers. Since 2024, the Federal Government, through the Ministry of Treasury, has intensified regulation of the sector. This process brought bureaucratic and financial impacts, affecting the companies’ performance.
Parimatch faced a turbulent and uncertain scenario in Brazil, which influenced the decision to close its activities. Despite this, Growe maintains expansion plans in other markets in Latin America.
