Soft2Bet: the illegal gambling empire  

Investigate Europe accuses Soft2Bet and its partners of being linked to a vast network of illegal online casinos targeting European players, including Belgians.  

An investigation that tarnishes the image of a gambling giant  

Soft2Bet presents itself as a recognised international player in the gambling industry, holding official casino and sports betting brands, and operating notably in Greece, Sweden, Romania and Canada. However, a year-long investigation by Investigate Europe, in collaboration with media partners in fifteen countries – including Le Soir in Belgium – has uncovered a highly profitable parallel system based on online casinos operating without the necessary licences.  

According to the findings of this investigation, Soft2Bet and its partners are allegedly involved in the operation of around 160 online casinos, a large proportion of which are said to be operating without a licence. More than 600 million euros are reported to have been transferred between May 2020 and May 2024 from two Cypriot companies to Soft2Bet and associated entities.   

Soft2Bet strongly denies the allegations. The company claims that the information presented is based on an “incorrect and misleading” interpretation of its activities and structure. It insists that compliance and accountability are at the heart of its operations. However, the financial documents, internal communications and testimonies from former employees gathered by journalists paint a far more troubling picture.  

Belgian players facing unregulated sites  

According to the investigation, Le Soir and other media partners managed to create accounts on several sites without any prior identity or age checks. Even more seriously, individuals who had self-excluded or were banned from gambling in Belgium were also able to access certain platforms. 

Licensed operators must comply with strict obligations in Belgium. In particular, they must verify players’ identities, prevent access by individuals barred from gambling, and avoid certain commercial practices. The casinos under investigation hold no licence from the Gaming Commission and do not comply with any of the legal obligations. Some of these casinos maintain an air of ambiguity. The Slots Palace website, for example, displayed a Belgian flag on its homepage, even though its operation was described as illegal in Belgium. Its terms and conditions stated that users must be at least 18 years old, whilst also asking them to check for themselves whether using the site was legal in their own country.  

A man in his twenties from Brussels says he lost several thousand euros on Slots Palace. He explains that he discovered the platform through an influencer on TikTok, who highlighted substantial winnings and offered a sign-up code.  

“He offered a code for us to sign up, and he gets a cut of the money we lose. That’s how it works. ” 

According to his account, he was on the gambling exclusion list. This did not prevent him from registering or depositing money using his bank card or Apple Pay. After suffering losses, he asked the site to self-exclude him. However, during an interview with journalists, he was still able to access the platform.  

Vulnerable victims and substantial losses  

The investigation also includes testimonies from other European countries. A 48-year-old Austrian man claims to have lost 70,000 euros at two casinos linked to Soft2Bet. He says he used his company’s bank accounts to continue gambling, to the point of causing the company to go bankrupt.  

“Nobody asked me if I could afford it or where the money was coming from, even though I was using my company’s bank accounts.”  

A British gambler reports even heavier losses: 145,000 pounds sterling. She claims that her requests for self-exclusion were ignored by the casino.  

“I was so desperate and felt so panicked. This is an abuse of vulnerable people.”  

In the investigation, a former Soft2Bet employee describes practices designed to retain customers, even when they report problems with gambling addiction.  

“When a player wants to close their account because they have gambling problems, the process is extremely lengthy compared to legal sites.” 

According to him, the teams were sending a barrage of emails, making repeated approaches and offering bonuses to discourage account closures. He adds that accounts could be reopened and that players would then receive new welcome messages accompanied by incentives to play again.  

Front companies, payments and financial links  

The Investigate Europe investigation reveals a complex structure, based on several companies located in different countries. Two companies registered in Curaçao, Araxio Development and Rabidi, are alleged to have been used to secretly operate dozens of casinos without a Belgian licence. To manage deposits made at the illegal casinos, two other companies, Tranello and Tilaros, are registered in Cyprus. They are subsidiaries of the Curaçao-based companies.   

Payment records obtained by Investigate Europe appear to establish a direct link to the Soft2Bet ecosystem. Between May 2020 and May 2024, Tranello and Tilaros are alleged to have paid over 600 million euros to Soft2Bet and its associates. The transfer descriptions referred to marketing services or licensing agreements. More than €330 million is said to have been distributed to companies owned by Uri Poliavich, including Outono – then Soft2Bet’s parent company – and Brainrocket, the group’s technical subsidiary prior to its transfer to a partner. 

The records also appear to show that Tilaros paid the salaries of several Soft2Bet executives, including the sales director, the legal director and the compliance officer. Uri Poliavich is also said to have had a bank card linked to Tilaros’s accounts in his name.  

According to Chris Kronow Rasmussen, an assistant professor of investigative studies at the University of New Haven, the separation between the group’s entities is “cosmetic”.   

In his view, “the defining characteristic of these structures is the intertwining of legal and illegal activities.”  

Regulators overwhelmed by a shifting network  

As early as 2017, several European regulators blacklisted websites lacking the necessary licences and linked to Soft2Bet or its partners. Some websites were also penalised.  

But blocking a platform is not always enough. When an address is identified, it can be slightly altered to circumvent the measure. The authorities must then restart the procedure.   

In Belgium, Araxio Development and Rabidi have been sanctioned on several occasions. The total amount of the fines is said to run into several hundred thousand euros. It is reported that these fines have never been paid. 

Gamblers have also taken their cases to the European courts. Legal action has been taken against companies based in Curaçao, as well as against Cypriot entities responsible for collecting payments. On several occasions, judges have ruled in favour of the claimants, finding that casinos could not target domestic customers without the appropriate licence. Fines of up to 5 million euros have been imposed. However, the investigation highlights that these proceedings never reached Soft2Bet. The shell companies in question were declared bankrupt in 2023 and 2024. Before the first convictions, Rabidi is said to have transferred the 34 illegal casinos she owned to another Curaçao-based entity, owned by a Soft2Bet associate.  

The bankruptcies did not put an end to the scheme. According to a former marketing employee quoted by Investigate Europe, new platforms continue to appear regularly.  

“About every two weeks, they set up a new casino.”  

One of the new brands mentioned in internal documents is Onlyspins. The recently launched site combines casino games with sexually explicit content. According to the investigation, it features highly sexualised women and allows users to unlock videos by playing games.  

Payments that raise questions 

When attempting to make a deposit on Onlyspins from Germany, Investigate Europe was reportedly redirected to an account with Trumia, an electronic payment company owned by Uri Poliavich. This company is regulated by the Maltese financial authorities, registered at Soft2Bet’s Maltese office, and headed by the group’s chief financial officer.  

Le Soir, for its part, reports that it managed to deposit money into the online casino on two occasions. The platform reportedly carried out no identity or age checks. The recipient listed on the bank details was Zentoria, a company registered in Ireland. This company legally holds an Irish gambling licence, but for another, inactive casino that shares the same IP address as dozens of sites linked to Soft2Bet.  

A very polished official façade  

Soft2Bet has cultivated a public image that stands in stark contrast to these allegations. Its founder, Uri Poliavich, born in Ukraine in 1981, recounts his personal journey – marked by hunger and a desire to change his life – in a self-produced documentary. After gaining experience in law and management, he founded Soft2Bet in 2016.   

The company is growing rapidly. Soft2Bet officially manages eleven casino and sports betting brands. The group has even partnered some of its brands with well-known figures from the world of sport, including Diego Simeone, the iconic manager of Atlético Madrid. Another brand has become a sponsor of the Canadian football league.  

The company does not present itself solely as a gambling operator. It also sells technical services to other players in the sector. Its software is said to reach ten million users worldwide. In 2024, Soft2Bet made a profit of 152 million euros and received numerous awards. In particular, the company was praised for its exceptional contribution to the sector, whilst this year it was presented as a responsible gambling partner at a major industry event.  

The investigation highlights the weaknesses of a sector where borders, front companies and digital platforms complicate the work of the authorities. Whilst Soft2Bet denies any wrongdoing, the documents and testimonies gathered raise questions about player protection, operator accountability and the effectiveness of European regulators in dealing with unlicensed online casinos.