investigation
Soft2bet and the Shadow Network: Inside Europe's Internet of Blacklisted Gambling Operatings Systems.
A months-long examination has discovered exactly how a well-known European wagering software application team is linked to an expansive underground of unlicensed gambling enterprises that continue to lure countless gamers monthly. In spite of repeated restrictions, lawsuits, and multimillion-euro penalties, the network stays resistant, raising questions about oversight and accountability in Europe's fragmented gambling market.
How the Company Internet Functions.
Private investigators found that Soft2bet's connections were thoroughly hidden through split company frameworks. Rabidi and Araxio worked as noticeable drivers while software program rights and possession were dispersed with entities in Cyprus.
Documents reveal Poliavich handled Araxio using a Cypriot firm, Outono Ltd., while Rabidi was tied to his long-time associate Denys Butko, a Ukrainian businessman living in Cyprus. Together, they launched greater than 550 gambling establishment URLs over seven years.
As lawsuits accumulated, the team reorganized. Procedures were moved to new shell entities, consisting of a third Curaçao car and later business registered in the Marshall Islands and Dubai. Some online casinos abandoned Curaçao licenses altogether, rather taking on authorizations from Anjouan, a small Indian Sea island currently becoming the most up to date gaming tax obligation haven.
Documents reveal Poliavich handled Araxio using a Cypriot firm, Outono Ltd., while Rabidi was tied to his long-time associate Denys Butko, a Ukrainian businessman living in Cyprus. Together, they launched greater than 550 gambling establishment URLs over seven years.
As lawsuits accumulated, the team reorganized. Procedures were moved to new shell entities, consisting of a third Curaçao car and later business registered in the Marshall Islands and Dubai. Some online casinos abandoned Curaçao licenses altogether, rather taking on authorizations from Anjouan, a small Indian Sea island currently becoming the most up to date gaming tax obligation haven.
A Casino player's Story of Damage.
Felix, a German guy in his fifties, keeps in mind the years when his life spiraled into economic and emotional collapse. What started as harmless bank on his phone soon rose right into an addiction that cost him more than EUR400,000.
" I invested every complimentary min having fun," he recalls. "I also bet while strolling to the park with my daughter. It seemed like my entire existence focused on the following spin or card draw."
His marriage finished, solitude deepened, and the sale of his home only fueled the practice additionally. After burning via the profits, Felix resorted to 9 different fundings and also gave up his pension plan.
One gambling enterprise stood apart in his memory: Wazamba, an online system that assured him VIP condition and personal rewards. In simply 6 months, he shed EUR245,000 there. "They constantly provided me credit histories to maintain having fun," he said. "Those who run these websites have stolen my life."
" I invested every complimentary min having fun," he recalls. "I also bet while strolling to the park with my daughter. It seemed like my entire existence focused on the following spin or card draw."
His marriage finished, solitude deepened, and the sale of his home only fueled the practice additionally. After burning via the profits, Felix resorted to 9 different fundings and also gave up his pension plan.
One gambling enterprise stood apart in his memory: Wazamba, an online system that assured him VIP condition and personal rewards. In simply 6 months, he shed EUR245,000 there. "They constantly provided me credit histories to maintain having fun," he said. "Those who run these websites have stolen my life."
Rejections from the Firm.
Soft2bet and Poliavich highly decline all allegations of transgression. In declarations to investigators, the company urged:
" Soft2bet is a leading on-line casino site and sportsbook software application company, holding different licenses worldwide. We take compliance obligations extremely seriously. Any kind of insurance claim that Soft2bet is involved in improper or illegal activities is entirely incorrect and maligning."
" Soft2bet is a leading on-line casino site and sportsbook software application company, holding different licenses worldwide. We take compliance obligations extremely seriously. Any kind of insurance claim that Soft2bet is involved in improper or illegal activities is entirely incorrect and maligning."
The Shell Game in Curaçao.
Felix took Wazamba to court in Germany, and judges regulationed in 2023 that the casino site owed him a reimbursement. At the time, the website was discreetly run with 2 Curaçao-registered companies: Rabidi and Araxio Growth.
In 2022 alone, Rabidi reported a turnover of EUR343 million. Yet by 2023, both companies stated personal bankruptcy in Curaçao complying with a string of lawsuits. Creditors, consisting of Felix, are still waiting to be paid. Assets were currently moved somewhere else before judgments came through-- leaving little behind.
Soft2bet's duty was not initially revealed. However company documents show its owner, Uri Poliavich, and his close partners were connected to Rabidi and Araxio through ownership and trademarks at various factors.
In 2022 alone, Rabidi reported a turnover of EUR343 million. Yet by 2023, both companies stated personal bankruptcy in Curaçao complying with a string of lawsuits. Creditors, consisting of Felix, are still waiting to be paid. Assets were currently moved somewhere else before judgments came through-- leaving little behind.
Soft2bet's duty was not initially revealed. However company documents show its owner, Uri Poliavich, and his close partners were connected to Rabidi and Araxio through ownership and trademarks at various factors.
A Legal Gray Zone.
Many EU federal governments require that online gambling establishments hold a regional certificate, both to safeguard gamers and to accumulate taxes. Nevertheless, Curaçao's overseas permits-- held by several Soft2bet-linked casino sites-- do not accredit operations in Europe.
Yet without coordinated EU legislation, enforcement remains patchy. Regulatory authorities confess they do not have tools to close down unlicensed internet sites properly. Some estimates recommend that as much as 70% of Europe's on-line gaming market is unlicensed, though approaches vary.
" The unlawful online betting field demonstrates how fragmented European law enforcement is," claims legal expert Benedikt Quarch. "If there were a linked European licensing system, the trouble would certainly be far simpler to deal with."
Yet without coordinated EU legislation, enforcement remains patchy. Regulatory authorities confess they do not have tools to close down unlicensed internet sites properly. Some estimates recommend that as much as 70% of Europe's on-line gaming market is unlicensed, though approaches vary.
" The unlawful online betting field demonstrates how fragmented European law enforcement is," claims legal expert Benedikt Quarch. "If there were a linked European licensing system, the trouble would certainly be far simpler to deal with."
The Sleek Public Image.
Despite these findings, Soft2bet remains to grow a smooth public profile. Its accredited brands-- such as Betinia, Campobet, and Elabet-- operate legally in markets like Sweden, Denmark, and Italy. The business organizes attractive anniversary galas, celebrates sector awards, and emphasizes its role as a technology carrier.
At the same time, web traffic information reveals that the firm's certified brands are overshadowed by its blacklisted relatives. Elabet, for example, registered simply 15,000 Italian sees in late 2024, compared to millions for Boomerang and loads of banned casino sites.
At the same time, web traffic information reveals that the firm's certified brands are overshadowed by its blacklisted relatives. Elabet, for example, registered simply 15,000 Italian sees in late 2024, compared to millions for Boomerang and loads of banned casino sites.
The Link Back to Soft2bet.
Private investigators have actually currently linked Wazamba to Soft2bet, a betting team officially headquartered in Cyprus and Malta. Externally, the business seems a polished B2B supplier, providing modern technology to the regulated side of Europe's multibillion-euro betting market and taking care of a tiny handful of reputable brand names.
Yet beneath that surface area exists a much broader impact. Study by Investigate Europe traced more than 140 betting sites back to Soft2bet's orbit. A minimum of 114 of them have actually been blacklisted in EU participant states for running without a permit. Countries such as France, Poland, Italy, Greece, Spain, Belgium, and Hungary all list the company's linked online casinos amongst their banned drivers.
The extent of the operation just became clear after analysis of company filings, trademark data sources, and domain ownership records extending numerous territories. The path linked Cyprus and Malta to overseas facilities such as Curaçao, Gibraltar, Dubai, and also the Marshall Islands.
Yet beneath that surface area exists a much broader impact. Study by Investigate Europe traced more than 140 betting sites back to Soft2bet's orbit. A minimum of 114 of them have actually been blacklisted in EU participant states for running without a permit. Countries such as France, Poland, Italy, Greece, Spain, Belgium, and Hungary all list the company's linked online casinos amongst their banned drivers.
The extent of the operation just became clear after analysis of company filings, trademark data sources, and domain ownership records extending numerous territories. The path linked Cyprus and Malta to overseas facilities such as Curaçao, Gibraltar, Dubai, and also the Marshall Islands.
Blacklists That Do Not Attack.
In spite of regulators naming and prohibiting the systems, several stay energetic and pull in countless gos to every month. Investigators were able to produce gamer accounts on lots of forbidden websites effortlessly.
The blacklisted procedures include Boomerang, a sports betting and gambling enterprise brand that, in July 2024, managed to sign a sponsorship manage Italian football giant AC Milan-- even though the site was already obstructed in numerous European markets. By early 2025, Italian authorities had actually clearly put Boomerang on their blacklist, but its Links still attracted countless regular monthly visitors, mostly from Germany, Spain, and Greece.
Industry specialists describe the online betting landscape as an "iceberg economy": the noticeable, licensed operators float above the waterline, while a much larger uncontrolled market lurks beneath.
The blacklisted procedures include Boomerang, a sports betting and gambling enterprise brand that, in July 2024, managed to sign a sponsorship manage Italian football giant AC Milan-- even though the site was already obstructed in numerous European markets. By early 2025, Italian authorities had actually clearly put Boomerang on their blacklist, but its Links still attracted countless regular monthly visitors, mostly from Germany, Spain, and Greece.
Industry specialists describe the online betting landscape as an "iceberg economy": the noticeable, licensed operators float above the waterline, while a much larger uncontrolled market lurks beneath.
The tale of Soft2bet is not almost one firm yet concerning the larger failure of Europe's regulative patchwork. As long as offshore operators can conceal behind shell structures and make use of lawful voids, blacklisted gambling establishments will certainly continue to grow-- while gamers and their households pay the price.
The Road Ahead.
As of very early 2025, Soft2bet is preparing to expand its qualified operations additionally, with Elabet going into the Greek market. At the same time, more than 50 various other sites connected to the group continue to be blacklisted in Greece alone.
For gamers like Felix, the struggle proceeds. 2 years after winning his litigation, he is still awaiting payment. He currently blocks his accessibility to electronic banking and collaborates with a specialist to handle his dependency. With EUR1,400 in monthly financial debt repayments, he states, "There's nothing left at the end of the month."
For gamers like Felix, the struggle proceeds. 2 years after winning his litigation, he is still awaiting payment. He currently blocks his accessibility to electronic banking and collaborates with a specialist to handle his dependency. With EUR1,400 in monthly financial debt repayments, he states, "There's nothing left at the end of the month."
The Man Behind the Network.
Birthed in Ukraine in 1981, Poliavich constructed his gaming realm after operating in Central Asia and later on relocating to Cyprus. He launched Soft2bet in 2016, and within a couple of years, the team expanded to more than 1,000 workers. It obtained market awards, opened up brand-new workplaces ushered in by Malta's Economic climate Preacher, and handed over excellent profits.
In 2023, the company reported EUR66.8 million in profits, with Poliavich taking home a personal reward of EUR57.8 million. He bought realty across Cyprus, Prague, and Sofia, in addition to in deluxe vehicles. Industry events lauded him as a visionary leader-- while his network of blacklisted gambling enterprises quietly expanded.
In 2023, the company reported EUR66.8 million in profits, with Poliavich taking home a personal reward of EUR57.8 million. He bought realty across Cyprus, Prague, and Sofia, in addition to in deluxe vehicles. Industry events lauded him as a visionary leader-- while his network of blacklisted gambling enterprises quietly expanded.
Sufferers Left.
For players, the influence has been devastating.
A Finnish bettor told detectives they lost EUR120,000 on Rabidi-operated gambling enterprises throughout the pandemic. When they attempted to close their account, one website offered them a EUR50 perk to remain. The financial debts accumulated to EUR70,000. "I consider suicide nine out of 10 days," the gamer admitted.
Legal experts in Europe claim recovering funds from these casinos is nearly difficult. German firm RightNow, which represents gamers in lawsuits, has actually called it "insane" that business can just abandon one entity, move properties, and resume under a brand-new name.
A Finnish bettor told detectives they lost EUR120,000 on Rabidi-operated gambling enterprises throughout the pandemic. When they attempted to close their account, one website offered them a EUR50 perk to remain. The financial debts accumulated to EUR70,000. "I consider suicide nine out of 10 days," the gamer admitted.
Legal experts in Europe claim recovering funds from these casinos is nearly difficult. German firm RightNow, which represents gamers in lawsuits, has actually called it "insane" that business can just abandon one entity, move properties, and resume under a brand-new name.
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