Recent investigations have revealed a troubling, darker side to Soft2Bet. This comes despite the gambling industry giant presenting itself as a leading iGaming solutions provider with impressive credentials.
Soft2Bet operates as a legal provider of casino software while simultaneously running a network of illegal online casinos.
For key points, legal front supplies turnkey gambling solutions to licensed operators.
Secondly, the illegal backend owns and operates unlicensed casinos. Examples include Wazamba and Boomerang. Offshore shell companies based in places like Curaçao, Malta, and Dubai run these operations.
Third is Evasion Tactics.
Fourth is Bankrupting shell firms, examples are Rabidi N.V., Araxio to avoid fines or compensation.
Fifth, erasing digital traces for censoring investigations, bribing media.
Sixth is hiding behind offshore jurisdictions such as Cyprus, Gibraltar, Marshall Islands.
Seventh, the owner Uri Poliavich, an Israeli-Ukrainian businessman, with finances managed by his wife.
Consequences, for victims, example a German player who lost €400K get no justice; EU regulators struggle to track the money.
Soft2Bet profits from both legal and illegal gambling while systematically avoiding accountability.
Investigate Europe exposed the connection of Soft2Bet in March to dozens of blacklisted gambling sites across Europe. Operating in countries like Germany, the United Kingdom, France, and Italy without proper licensing, the investigation uncovered over 140 illegal gambling platforms linked to Soft2Bet. These illicit operations continue to thrive beyond regulatory reach, despite Soft2Bet’s headquarters being in Malta and Cyprus.
Behind the polished corporate image of Soft2Bet, lies a complex web of shell companies designed to avoid accountability. Courts in Austria and Germany declared companies like Rabidi and Araxio—linked to Soft2Bet—bankrupt. However, investigators found that they had strategically moved assets beforehand, leaving creditors unpaid and revealing a deliberate effort to evade legal consequences.
