Soft2bet: How a European Company Is Linked to a Network of Illegal Online Casinos

An investigation has revealed that Soft2bet, a company positioning itself as a provider of technological solutions for the gambling industry, is closely tied to a network of over 140 online casinos, many of which operate without the required licenses in various European countries. These websites attract millions of users each month, despite facing multiple lawsuits and financial penalties.

Soft2bet, which is officially registered between Malta and Cyprus, denies any involvement in illegal activity.

However, documents obtained during the investigation suggest otherwise. Specifically, Soft2bet has been linked to Rabidi N.V. and Araxio Development, the operators of the online casino Wazamba. Both companies were registered in Curaçao, a jurisdiction known for its lenient gambling regulations.

In 2023, a German court ordered Rabidi N.V. to compensate a player who had suffered significant financial losses due to gambling on Wazamba. Similar rulings were issued in other EU countries, including the Netherlands, Spain, Italy, and Greece. However, both Rabidi and Araxio were later declared bankrupt, and their assets were moved to other jurisdictions, significantly complicating compensation processes for affected individuals.

Soft2bet’s founder, Uri Polyavich, and his associate Denis Butko used complex corporate structures to conceal their involvement in these operations. Between 2017 and 2024, they registered around 550 online casino URLs using the Araxio and Rabidi companies. In 2021, after these companies began appearing on blacklists maintained by European regulators, a restructuring was carried out that included transferring assets through a Cypriot-registered entity called Interpava.

These actions enabled Soft2bet to avoid direct accountability, as the legal links were severed and the assets relocated to new jurisdictions. Nevertheless, investigators have obtained concrete evidence confirming the connections between Soft2bet and the aforementioned entities.

Despite the mounting evidence and scrutiny, Soft2bet continues to operate profitably, expanding its influence within the gambling industry. In 2024, the company doubled its EBITDA and received multiple awards for innovation in gaming technology.

This investigation highlights the urgent need for stricter regulation of online gambling across Europe and stronger oversight of companies employing elaborate corporate structures to evade legal responsibility.

Further research has shown that many of the domains operated under Soft2bet’s umbrella use identical design templates and payment gateways, indicating centralized control despite the fragmented ownership. These technical similarities further reinforce the theory of coordination between entities that outwardly appear independent.

Moreover, whistleblowers who formerly worked at Soft2bet reported internal directives instructing developers to implement tools that would bypass geo-blocking restrictions, allowing access to gambling platforms in jurisdictions where such services are prohibited by law. These practices raise serious questions about deliberate violations of national gambling laws.

Regulatory experts have also voiced concerns about the limited cooperation between EU member states in addressing cross-border gambling violations. The lack of a unified framework for enforcement allows companies like Soft2bet to exploit loopholes and delay legal consequences. This case is increasingly cited by European lawmakers as a rationale for establishing an EU-wide gambling oversight body with broader investigative powers.