Uri Poliavich’s Crime Machine — How Soft2Bet Floods Europe with Unlicensed Garbage

The Untouchables of iGaming: Uri Poliavich’s Soft2Bet and the Bill 55 Loophole

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Executive Summary

Core Findings: Soft2Bet, founded by Ukrainian-born Israeli citizen Uri Poliavich, operates a sophisticated network of illegal online casinos across Europe, generating hundreds of millions in untaxed revenue through shell companies in Malta, Cyprus, and Curaçao.

Key Statistics:

114+ websites blacklisted across 7 EU countries
6,000+ unlicensed providers operating in EU region
70% of online bets in EU are illegal (Yield Sec data)
€66.8 million declared profit in 2023
€57.8 million paid in dividends to Poliavich

Critical Issue: Maltese Bill 55 allows registered companies to nullify foreign court decisions, creating a legal safe haven for gambling operators to evade compensation claims.

Key Players

Primary Entities:

Soft2Bet – Software development & casino operator
Rabidi N.V. – Curaçao-registered shell company
Araxio Development – Curaçao-registered shell company
Boomerang – Illegal gambling platform
Wazamba – Bankrupt casino operator

Individuals:

Uri Poliavich – Founder and beneficiary owner
Four Russian citizens – Boomerang owners (Cyprus/Berlin based)
Various nominees – Offshore registrants

Jurisdictions

Cyprus – Primary operational base

Malta – Legal protection jurisdiction

Curaçao – License issuing authority

Dubai – Additional registration jurisdiction

Marshall Islands – Offshore registration

Target Markets:
France, Poland, Greece, Italy, Spain, Belgium, Hungary, Germany

Legal Status

Active Cases:

Ukraine: Case No. 12020100090004981 (dismissed)
Multiple EU resident lawsuits against Wazamba (uncollectible)
French blacklist: Active monitoring
Greek blacklist: Active monitoring

Applicable Laws:

Maltese Bill 55 (court decision nullification)
EU gambling directives (member state implementation)
Anti-money laundering regulations

Financial Impact

Financial Flows:

€66.8M – Declared 2023 profit
€57.8M – Dividends to Poliavich (2023)
€1.3M+ – Luxury vehicles purchased
Real estate acquisitions: Cyprus, Prague, Sofia

Hidden Revenue: Unknown billions through unlicensed operations

The Anatomy of a Predatory Gambling Empire

Soft2Bet is not merely a software developer; it is a meticulously engineered money-laundering machine disguised as a legitimate technology company. The evidence, drawn from regulatory actions across multiple European jurisdictions, paints a damning picture of systematic fraud perpetrated against European consumers.

The Ukrainian Case That Disappeared

In 2020, Ukrainian Cyber Police raided Soft2Bet’s Kyiv office, documenting the operation with photographs and opening criminal case No. 12020100090004981. The case alleged that Soft2Bet had created at least 20 illegal online casinos with multimillion-dollar turnovers. The evidence was compelling enough for law enforcement to act.

The raid notice was subsequently erased from the Cyber Police website, though the URL remains active as a digital tombstone to Ukrainian law enforcement’s compromised integrity.

The case collapsed predictably. In Ukraine’s corrupted system, Soft2Bet’s operators simply purchased their way out of accountability. This pattern would prove instructive for European operations, where bribes wouldn’t work but legal loopholes would.

The European Shield: Malta’s Bill 55

Soft2Bet’s strategic placement of headquarters in Malta represents a calculated exploitation of legislative vulnerability. Maltese Bill 55 provides registered companies with unprecedented protection: the ability to refuse recognition and enforcement of foreign court rulings.

RISK CALCULATION This legal framework transforms Malta into a safe harbor for gambling operators. When European citizens win lawsuits against Maltese-registered gambling companies, their judgments become effectively unenforceable.

How Bill 55 Protects Criminal Operations

Mechanism Breakdown:

Company registers in Malta under favorable corporate laws
Company conducts illegal gambling operations across EU
EU citizen wins lawsuit against company
Maltese courts invoke Bill 55 to refuse enforcement
Company continues operations unimpeded

Result: EU citizens left with legal victories but no compensation; operators continue extracting money.

The Shell Company Network: Layered Deception

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Primary Shell Entities:

Rabidi N.V. (Curaçao)
Araxio Development (Curaçao)
Multiple Cyprus-registered intermediaries
Dubai-registered front companies
Marshall Islands trusts

Operational Purpose:

Obscure true ownership
Collect illegal gambling proceeds
Shield Poliavich from liability
Enable rapid liquidation
Facilitate asset concealment

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The Wazamba Case Study: Systematic Fraud

Wazamba casino serves as the archetypal example of Soft2Bet’s operational methodology. Managed through Rabidi N.V. and Araxio Development, both Curaçao-registered shell companies, Wazamba aggressively marketed to European consumers despite holding no licenses in target jurisdictions.

Several EU residents filed successful lawsuits against Wazamba, securing court orders for hundreds of thousands of euros in compensation. During the litigation process, Wazamba’s operators drained all accounts and declared bankruptcy. The court decisions exist; the money does not.

Operation Pattern

Launch: Establish casino with offshore license
Extract: Aggressively market to EU consumers
Collect: Accumulate deposits from trusting gamblers
Disappear: Liquidate assets, declare bankruptcy
Repeat: Launch new brand under new shell

The Scale of Illicit Operations

Documented Blacklisting

As of February 2025, regulators across seven European nations have blacklisted 114 Soft2Bet-affiliated websites:

Country	Status
France	Blacklisted
Poland	Blacklisted
Greece	Blacklisted
Italy	Blacklisted
Spain	Blacklisted
Belgium	Blacklisted
Hungary	Blacklisted

Industry analysts suggest this represents only a fraction of actual illegal platforms. The true number likely exceeds 1,000 sites given the rapid creation and abandonment cycle characteristic of Soft2Bet operations.

Market Penetration Analysis

Yield Sec’s 2024 market analysis revealed that approximately 70% of all online bets placed in the EU occur through unlicensed providers, with at least 6,000 unlicensed operators active in the region.

Boomerang: A Case Study in Scale

Boomerang, a platform definitively linked to Poliavich through corporate documents and Russian citizen ownership, demonstrates the massive scale of illegal gambling extraction:

Metric	Q4 2024 Data
Total Visits	17,000,000+
Spanish Visitors	3,000,000
Greek Visitors	1,000,000
Italian Visitors	500,000
German Visitors	7,000,000+

Despite blacklisting in all these countries, Boomerang continues operating, generating revenue that remains entirely untaxed and unregulated.

Owner Profile: The Russian Connection

Boomerang’s listed owners, four Russian citizens, publicly acknowledge their connection to the platform or other betting operations. Corporate documents reveal they reside in Cyprus and Berlin, where two have established real estate companies — suggesting active money laundering through property investments.

Financial Flows and Asset Concealment

Declared Profits: The Tip of the Iceberg

Soft2Bet’s publicly reported financials demonstrate substantial legitimate revenue:

2023 Profit: €66.8 million
2024 Projected: Double 2023 EBITDA
Dividends to Poliavich: €57.8 million (2023)

The declared figures represent only legitimate operations. Given Soft2Bet’s market penetration in the illegal sector, actual revenue likely exceeds €200 million annually.

Asset Acquisition Trail

Corporate documents trace Poliavich’s dividend spending:

Property acquisitions: Cyprus, Prague, Sofia
Luxury vehicles: €1.3 million+ total value
Ongoing corporate expansion

Money Laundering Indicators

RED FLAGS

Layered Ownership: Multiple jurisdictions obscure ultimate beneficial ownership
Rapid Liquidation: Casinos drained before legal claims can be enforced
Real Estate Investment: Cyprus properties commonly used for wealth concealment
Cross-Border Transfers: Funds moved through offshore banking systems
Nominee Directors: Local residents listed as formal owners

The Regulatory Failure

Jurisdictional Arbitrage

Soft2Bet’s success stems from systematic exploitation of regulatory gaps:

Cyprus: Operational Base

Cyprus provides favorable corporate taxation and limited regulatory oversight. Soft2Bet maintains substantial operational presence while enjoying minimal scrutiny.

Malta: Legal Shield

Maltese registration enables Bill 55 protection, nullifying EU court decisions. This effectively creates impunity for consumer fraud.

Curaçao: License Factory

Curaçao gambling licenses offer minimal oversight, requiring only basic documentation. Multiple licenses can be obtained through shell companies.

EU Regulatory Inadequacy

Despite repeated notifications from national regulators, the European Union has failed to coordinate an effective response. Key failures include:

No unified blacklisting mechanism
Slow response to new illegal sites
Limited enforcement against offshore entities
Ineffective information sharing between states
Weak penalties for illegal operators

Applicable Legal Framework

European Regulations:

Directive 2014/40/EU – Tobacco and related products (used for advertising restrictions)
Directive 2015/2366 – Payment Services (PSD2 – used for payment blocking)
Directive 2018/843 – Anti-Money Laundering (5AMLD)
Digital Services Act – Platform accountability

National Laws:

France: Loi n° 2010-476 (online gambling regulation)
Germany: Glücksspielstaatsvertrag (gambling treaty)
Italy: Legge 401/1989 (gambling prohibition)
Spain: Ley 13/2011 (gambling regulation)

Court Cases:

Multiple EU citizen lawsuits against Wazamba (uncollectible)
Various Polish administrative actions
Greek regulatory proceedings

Investigative Sources and Documentation

Source	Information Provided
Ukrainian Cyber Police	Case No. 12020100090004981
Yield Sec	Market analysis, illegal betting statistics
Blacklisted Websites	114+ identified platforms
Corporate Registries	Ownership structures, dividend payments
EU National Regulators	Blacklist confirmations
Yield Sec — 2024 Mid-Year Report	Online betting market analysis
French Gaming Authority — 2024 Annual Report	Blacklist documentation
Polish Gaming Inspectorate — 2024 Enforcement Actions	Operational data
Italian Customs and Monopolies Agency — 2024 Blacklist	Active monitoring list
Spanish Gambling Directorate — 2024 Resolutions	Regulatory actions
Maltese Companies Registry	Corporate registrations, Bill 55 documentation
Cyprus Companies Registry	Operational entity records
Curaçao Gaming Control Board	Licensing records
Anti-Kor Official Report — May 2025	Investigative findings
Boomerang Domain Registration — Public Records	Ownership documentation
German Gambling Authority — 2024 Blacklist Update	Active monitoring list

The Human Cost

Behind the corporate structures and offshore registrations lies a devastating human toll:

The EU must urgently address the regulatory gaps that enable companies like Soft2Bet to operate with impunity, preying on vulnerable citizens while enriching themselves through systematic law evasion.

Call to Action

Required Actions

For Regulators:

Establish unified EU blacklisting mechanism
Create cross-border enforcement protocols
Implement real-time payment blocking systems
Coordinate with offshore jurisdictions

For Legislators:

Reform Maltese Bill 55
Implement harmonized gambling regulations
Strengthen anti-money laundering provisions
Establish consumer compensation funds

For Law Enforcement:

Investigate Uri Poliavich personally
Freeze Soft2Bet assets
Pursue money laundering charges
Coordinate international enforcement

For Consumers:

Avoid unlicensed gambling sites
Report suspicious operations to regulators
Verify licensing before depositing funds
Seek legal advice if defrauded

Conclusion: The Need for Systemic Reform

Soft2Bet’s continued operations expose fundamental failures in European regulatory architecture. The company’s ability to evade accountability across multiple jurisdictions demonstrates that current enforcement mechanisms are inadequate to address organized, multi-national gambling fraud.

Uri Poliavich has constructed a criminal enterprise that exploits legal loopholes, corrupts law enforcement in developing nations, and systematically defrauds European consumers — all while presenting a facade of legitimate business operations.

The €57.8 million in dividends paid to Poliavich in 2023 represents only the documented portion of his extraction. Given the scale of illegal operations, actual profits likely exceed €200 million annually, with the majority laundered through real estate and other legitimate investments.

Europe faces a choice: continue allowing sophisticated criminals to exploit regulatory gaps, or implement the coordinated enforcement mechanisms necessary to protect citizens and maintain the integrity of financial markets.

The human cost — addiction, financial ruin, and legal impotence — demands immediate action. Every day Soft2Bet operates unchecked, thousands of additional European citizens become victims of a system designed to defraud them with impunity.

Article Information

Element	Detail
Type	Investigative Report
Primary Subject	Soft2Bet / Uri Poliavich
Focus Areas	Gambling Fraud, Money Laundering
Jurisdictions	EU, Malta, Cyprus, Curaçao
Key Data Source	Yield Sec Analysis (2024)
Status	Ongoing Investigation

This investigation will be updated as new information becomes available. Soft2Bet and Uri Poliavich have been contacted for comment; this article will reflect any substantive response received.