Soft2Bet and the Machinery of Disappearance…

Soft2Bet and Regulatory Disappearance

Soft2Bet’s changing corporate and regulatory footprint should be assessed through company records, licensing information and the public explanations available for each relevant entity. This investigation distinguishes documented changes from allegations about regulatory avoidance. The Malta Financial Services Authority, the Malta Gaming Authority and Malta Media’s related regulatory analysis provide context.

When shell games go digital and the money moves faster than the courts!

Let me start with a personal admission. I've seen plenty of dubious operations in this industry, but few have inspired the same mix of frustration, disbelief and sheer exhaustion as Soft2Bet. There’s something almost elegant in how the company constructs its empire, a kind of brutal efficiency in evading oversight that would be admirable if it weren’t built on wrecked savings accounts, broken families and jurisdictions politely looking the other way.

This isn’t just another exposé. It’s also a statement. I’ve had enough.

A network built on vanishing acts

Soft2Bet positions itself as a legitimate gambling software provider, but much of what matters happens in the shadows. On the surface, you’ll find sleek branding and lofty declarations of growth. Look closer, though and you'll see how the operation works: companies appear, licences get issued in low-regulation zones like Curaçao or Malta, user funds start flowing and (just as the complaints pile up) the entity vanishes. Dissolved, struck off or declared bankrupt. It’s as if these platforms were never real to begin with.

Take Wazamba, for instance. A bright, gamified casino with cartoonish aesthetics that concealed something far uglier. Dozens of European players reported manipulative withdrawal tactics, vanished balances and stonewalling support. Some pursued legal claims. A few even won. But by then, the money was long gone, the companies managing the site (Rabidi N.V. and Araxio Development) were empty shells.

What was left behind?

Just court rulings without recovery and players without justice.

When profit outpaces accountability

Soft2Bet continues to expand. Their public statements projected EBITDA for 2024 to double from the previous year. The reported figure for 2023? €66.8 million in profit, with nearly €58 million in dividends paid to founder Uri Poliavich. Yet for a company denying any links to illegal operators, that profit margin raises a simple question:

Where is all that money coming from?

Especially when dozens of casinos reportedly connected to Soft2Bet or its affiliates are blacklisted across France, Germany, Spain and other regulated markets.

By early 2025, at least 114 sites were officially flagged in Europe. The actual number, based on DNS mirroring, redirects and alternate domain cycling, could be in the thousands.

Boomerang Casino offers a brutal illustration. In just three months, that platform recorded over 17 million visits. Despite being blacklisted in Germany, Spain and Italy, users continued to gamble uninterrupted. Only in the last three months of 2024, its URLs registered three million visits from Spain, one million from Greece and almost 500,000 from Italy, even though the site is blacklisted in these countries. More than seven million visitors came from Germany, where Boomerang also lacks the necessary licenses.

Behind the facade? Corporate registrations point (once again) to individuals based in Cyprus and Berlin with a curious proximity to Poliavich’s other known assets.

 Why Malta matters (and how Bill 55 fits in)?

Many of these operations either originate from or route through Malta. It’s no accident. The country has become the preferred haven for companies looking to block legal enforcement from the rest of the EU. Thanks to a domestic statute known as Bill 55, Maltese courts can outright refuse to recognise judgments from Germany, France or any other member state, effectively immunising local companies from foreign court orders.

So if a German player wins a civil suit against a Malta-registered Soft2Bet entity? Good luck enforcing it.

The money, meanwhile, is already out. Usually to Cyprus. Sometimes to real estate in Prague or Sofia. Rarely, if ever, to the people who lost it in the first place.

 It’s not just legal grey zones – it’s legislative design!

There’s a perverse brilliance to the whole thing. In Ukraine, where Soft2Bet faced criminal probes in 2020, investigators raided the company’s office. But after some political reshuffling and curious disappearances from the police website, the case evaporated. In Europe, where buying off the system is harder, the game simply shifts.

Here, the method isn’t bribery. It’s structural obfuscation. Shell firms, nominee directors and licensing fragmentation across Curaçao, the Marshall Islands and Dubai. Platforms are routed through intermediaries. When pressure mounts, the legal host disappears. The operation reappears the next week under a new name, a new brand and a fresh bonus for new players.

It works because regulators are three steps behind. And it works because nobody wants to chase shadows that leave no trail.

The unspoken cost

Behind every one of those brands (Wazamba, Boomerang and countless others) there’s a human story. I’ve spoken to people whose lives have been ruined, not by the addiction itself, but by the utter helplessness of trying to recover what was lost. They don’t even know who took their money. And when they finally do find out? The company no longer exists.

This  isn’t  just  about  oversight  or  weak  enforcement.  It’s  about  complicity. And until regulators, journalists and lawmakers stop treating these abuses as isolated lapses, the machine will keep humming.

Soft2Bet is not a glitch in the system.

It is the system. Designed to extract, disappear and repeat. And every day we stay silent, it gets sharper.

 While the financial, regulatory and structural elements surrounding Soft2Bet have now been covered extensively in media reports, industry investigations and public documents, there is an emerging area of concern that Malta Media believes warrants far closer scrutiny. Beyond the offshore layers and profit margins, what remains largely underreported are the working conditions of those employed within this ecosystem. We are referring specifically to the human dimension of the corporate machine: the individuals who develop, support, service and maintain these gambling operations, often behind the scenes and without a voice.

Following the publication of our recent articles, Malta Media has received a number of confidential submissions via our whistleblower portal from individuals who claim to have either worked directly for Soft2Bet or for closely associated companies. These messages, while still under verification, have raised potential red flags regarding treatment of staff, excessive workloads, abrupt terminations and possible violations of fair employment standards. Though we are proceeding cautiously and without presumption, the volume and tone of these accounts have prompted us to begin focusing more intently on the labour dimension of this story.

In particular, we are interested in whether any practices may fall within the wider legal definitions of labour exploitation, psychological coercion or even modern slavery, especially where international relocation, deceptive recruitment or economic dependency may have been involved. We are also interested in whether any outsourcing or shell company arrangements may have obscured responsibilities or protections for those affected.

FAQs

What is Soft2Bet and why is it controversial?
Soft2Bet is a gambling software provider accused of operating through shell companies, evading regulation, and exploiting legal loopholes to avoid accountability.

How does Soft2Bet allegedly avoid legal consequences?
Through strategic incorporation in low-regulation jurisdictions like Malta and Curaçao, and using shell firms that dissolve or relocate before lawsuits can take effect.

Why are brands like Wazamba and Boomerang Casino under scrutiny?
These casinos, linked to Soft2Bet, have been accused of manipulating player withdrawals, vanishing balances, and are blacklisted in multiple EU countries.

What role does Malta's Bill 55 play in this network?
Bill 55 allows Maltese courts to ignore foreign EU court rulings, helping companies registered in Malta evade legal enforcement from other member states.

Where do the profits from these casinos go?
Despite legal challenges, Soft2Bet reported €66.8 million in profits in 2023, with €58 million in dividends going to founder Uri Poliavich. Much of the money flows offshore.

Are players able to recover lost funds from Soft2Bet-linked platforms?
Rarely. Even when court rulings are in players' favor, funds are often unrecoverable as the entities are dissolved or hidden behind offshore structures.

Is Soft2Bet linked to illegal operations?
While Soft2Bet denies links to blacklisted sites, over 100 associated casinos have been flagged across Europe, suggesting operational overlap or shared control.

What new concerns are emerging beyond financial misconduct?
Whistleblower reports suggest possible labour exploitation within the Soft2Bet network, including excessive workloads, abrupt terminations, and coercive conditions.

How does Soft2Bet continue to operate despite regulatory scrutiny?
By using legal obfuscation, mirrored domains, and constant rebranding, Soft2Bet stays ahead of regulators and continues drawing millions of users.

What can be done to stop operations like Soft2Bet?
Greater international cooperation among regulators, stronger enforcement of court judgments across jurisdictions, and investigative journalism are essential.

Sources:

Investigate Europe: “Soft2bet: dozens of blacklisted gambling sites connected to award-winning European firm” https://www.investigate-europe.eu/posts/shady-bets-blacklisted-gambling-sites-connected-to-soft2bet- award-winning-european-firm

Amphora Media: “Shady Bets: Soft2bet Founder Connected To Blacklisted Gambling Sites In Secret Network” https://www.amphora.media/2025/03/shady-bets-soft2bet-blacklisted-gambling-boomerang

EUobserver: “Malta's little-known law letting global gambling giants off the hook” https://euobserver.com/health-and-society/arcc32ff89

Times of Malta: “ECJ asked to verify compatibility of Bill 55 with EU law” https://timesofmalta.com/article/ecj- seek-clarification-bill-55-a2.1106587

Trinity Bugle: “Soft2Bet thrives and Uri Poliavich profits from the EU's weak and…” https://www.trinitybugle.com/world/soft2bet-uri-poliavich.html

Soloazar: “Soft2Bet, 12 nominations in the EGR Marketing and Innovation Awards 2025” https://www.soloazar.com/en/news/igaming/soft2bet-12-nominations-in-the-egr-marketing-and-innovation- awards-2025

Antikor: “Soft2bet operates illegally – how the scheme works in Europe” https://antikor.com.ua/articles/542764-soft2bet_operiruet_nezakonno_kak_shema_rabotaet_v_evropah  Home Business Mag: “How Uri Poliavich Built Soft2Bet From Startup to Global iGaming Giant” https://homebusinessmag.com/blog/gaming/how-uri-poliavich-built-soft2bet-startup-global-igaming-giant Vgolos: “Soft2Bet: An Empire of Illegal Gambling Built on Offshore Schemes, Shell Companies and License Manipulations” https://vgolos.info/soft2bet-an-empire-of-illegal-gambling-built-on-offshore-schemes-shell- companies-and-license-manipulations

StopKor: “Uri Poliavich and Soft2Bet: A Large-Scale Illegal Online Gambling Scheme in Europe” https://stopkor.info/uri-poliavich-and-soft2bet-a-large-scale-illegal-online-gambling-scheme-in-europe Focus Gaming News: “Malta Passes Law Protecting Online Gambling Operators” https://focusgn.com/malta- passes-law-protecting-online-gambling-operators

Vgolos.org: “Soft2Bet: The Dark Empire of Online Casinos Fueled by Human Tragedies” https://vgolos.org/soft2bet-the-dark-empire-of-online-casinos-fueled-by-human-tragedies

From-UA.info: “Soft2Bet: The Shadow Gambling Empire – A Vast Network of Illegal Casinos, Offshore Schemes and Circumvention of European Law (Detailed Analysis)” https://from-ua.info/soft2bet-the-shadow- gambling-empire-a-vast-network-of-illegal-casinos-offshore-schemes-and-circumvention-of-european-law- detailed-analysis

LinkedIn: “Soft2Bet: Criminal Fairy Tale” by Tomas Harbar https://www.linkedin.com/pulse/soft2bet-criminal- fairy-tale-tomas-harbar-j0nhf

Bluesky: Investigate Europe on Soft2Bet https://bsky.app/profile/investigate-eu.bsky.social/post/3ljs5e3iu2k23 The Guardian: “Mastercard and Visa linked to gambling sites accused of scamming UK customers” https://www.theguardian.com/society/2025/mar/09/mastercard-and-visa-linked-to-gambling-sites-accused-  of-scamming-uk-customers

Antikor (EN): “How Soft2Bet Bypasses Laws and Earns Billions – International Gambling Mafia” https://antikor.com.ua/en/articles/760863- mehdunarodnaja_igornaja_mafija_kak_soft2bet_obhodit_zakony_i_zarabatyvaet_milliardy Trinity Bugle: “Wazamba, Soft2Bet and Uri Poliavich – The Operation Behind the Brand” https://www.trinitybugle.com/world/wazamba-soft2bet-uri-poliavich-operation.html

Drama.live: “Soft2Bet & Uri Poliavich: Money Laundering Through Fake Casinos and Betting Sites” https://drama.live/news/61595- soft2bet_uri_poliavich_money_laundering_through_fake_casinos_and_betting_sites