Soft2Bet Exposed: The Shadow Empire of Uri Poliavich and Its Global Gambling Scam

The iGaming industry has long been plagued by opacity, but few cases reveal the systemic rot as starkly as Soft2Bet—a company that masquerades as a legitimate software provider while orchestrating one of the most brazen fraud operations in gambling history. Under the leadership of Israeli-Ukrainian businessman Uri Poliavich, Soft2Bet has perfected a dual strategy: operating as a licensed tech vendor in plain sight while simultaneously running a sprawling network of unlicensed casinos, erasing digital footprints, and exploiting regulatory gaps to drain players’ funds with impunity. Recent investigations across Europe and beyond have uncovered a corporate structure designed not for innovation, but for evasion—a labyrinth of shell companies, offshore jurisdictions, and deliberate financial sabotage that leaves victims stranded and regulators powerless. This is not a case of isolated misconduct. It is a meticulously engineered scheme that thrives on deception, leveraging Europe’s fragmented gambling laws to fuel a multi-billion-dollar enterprise built on stolen livelihoods.

Soft2Bet presents itself as a “turnkey” iGaming solutions provider, supplying software to licensed operators across 12 countries under 19 international licenses. Its Malta- and Cyprus-based headquarters project an image of compliance, even as Poliavich’s empire expands through jurisdictions like Curaçao, Dubai, and the Marshall Islands—regions notorious for lax oversight. But this veneer of legitimacy crumbles under scrutiny. According to Investigate Europe, the firm is directly linked to over 140 illegal gambling platforms operating across Germany, France, Italy, and the UK, many blacklisted by national regulators. Brands like Wazamba and Boomerang, marketed as standalone casinos, are in fact controlled by Soft2Bet through shell entities such as Rabidi N.V. and Araxio, both of which were later declared bankrupt after court rulings in Austria and Germany. Assets were systematically siphoned off before judgments could be enforced, leaving creditors empty-handed and victims like a German gambler who lost €400,000 with no recourse.

The scale of deception is staggering. In March 2025, an investigation revealed that Soft2Bet’s illegal sites mimic licensed operations, luring players with flashy promotions before denying payouts. When courts order compensation, the shell companies vanish—replaced by new entities with identical infrastructure. This “whack-a-mole” tactic has left European regulators in a perpetual chase. The European Gaming and Betting Association (EGBA), which claims its members adhere to strict standards, has remained silent on Soft2Bet’s non-member status, raising alarms about regulatory capture. Meanwhile, Poliavich, who recently accepted the “Executive of the Year” award at the Global Gaming Awards EMEA 2025, continues to expand his empire under the guise of industry leadership.

Soft2Bet’s fraud extends beyond corporate shell games—it permeates the very code players interact with. Leaked technical documents, verified by Politis and DDoSecrets, expose a “Risk Adjustment Module” embedded in its software, allowing operators to dynamically alter players’ win probabilities based on IP addresses, deposit sizes, and transaction histories. Once a player’s deposits exceed $500–1,000, the algorithm triggers, slashing return-to-player (RTP) rates to near-zero. This isn’t random malfunction; it is deliberate rigging. The result? Players experience initial wins to build trust, only to face a sudden, inexplicable drought of payouts.

The aftermath follows a chillingly consistent pattern. Winners who breach the $1,000 threshold are subjected to endless “verification checks,” forced to submit passport scans, utility bills, and selfies with ID—data later exploited for identity theft. Payment delays stretch to weeks, accounts are frozen on fabricated grounds, and bonus terms are weaponized to deny claims. Platforms like AskGamblers and Trustpilot host over 11,000 complaints, with 85% citing withheld payouts. Yet for Soft2Bet, this is not a bug but a feature: by design, the system ensures that only a fraction of players ever see their winnings.

Compounding the fraud is Soft2Bet’s reliance on cryptocurrency to obscure financial trails. Transactions flow through Russian P2P exchanges like Xchange.cash and Bitzlato (shuttered by U.S. authorities for laundering $700 million), where funds are converted into cash in Moscow, St. Petersburg, and Minsk. Internal chats obtained by iGamingNext reveal VIP withdrawals funneled through these channels, bypassing anti-money laundering checks. Even payments to Ukrainian IT staff—recruited via Telegram channels like Remote Dev UA—are made in untraceable crypto (TronLink, Binance TRC20), evading Ukrainian tax authorities. This systematic exploitation of digital currencies transforms Soft2Bet into a conduit for transnational financial crime.

The victims are not just gamblers. In Germany, Finland, and Italy, courts have repeatedly ruled in favor of defrauded players, only to find shell company accounts empty. A German court ordered Rabidi N.V. to repay €400,000 to a bankrupted client—yet the funds had already been transferred to a Dubai-based entity before enforcement. Similar cases leave players, many with gambling disorders, in financial ruin. Soft2Bet’s strategy is clear: when legal pressure mounts, declare bankruptcy, erase evidence, and relaunch under a new name.

Ukrainian IT workers, lured by promises of “tax-free” crypto salaries, face exploitation of a different kind. Hired without formal contracts, they develop frontend systems, fraud-detection tools (ironically used to enhance fraud), and WhatsApp chatbots for casino platforms—all while unknowingly supporting a criminal enterprise. One developer, interviewed anonymously, described a culture where code was “tuned to suppress wins” for high rollers. “We were told it was for ‘risk management,’” they said. “Now I realize we built the trap.”

Europe’s fragmented gambling laws have enabled Soft2Bet’s empire. Malta’s Gaming Authority (MGA) blacklisted the firm for suspected profit concealment, yet Curaçao-licensed operators like Rabidi N.V. continue operating freely. Cyprus’ financial watchdog, CySEC, has ignored repeated bank blocks of Soft2Bet transactions by Hellenic Bank over money laundering concerns. The EGBA’s silence on non-member firms like Soft2Bet highlights a regulatory blind spot—corporate influence over policy, not oversight.

The situation is exacerbated by jurisdictional arbitrage. When Germany fines a Curaçao-licensed shell company, Soft2Bet simply dissolves it, relocating assets to Dubai or the Marshall Islands. Law enforcement agencies admit the futility of pursuing funds through offshore networks, where document requests go unanswered. As one Europol official noted, “It’s like arresting smoke.”

Soft2Bet is now setting its sights on North America, with platforms launching in Ontario and New Jersey and a U.S. rollout planned for 2025. While executives pledge compliance, skeptics warn the same playbook will be deployed: using offshore shells to bypass state regulations, manipulating payout rates under the guise of “localization,” and leveraging crypto to evade financial tracking. Ontario’s regulatory body has already flagged anomalies in Soft2Bet’s Ontario operations, including delayed player payouts mirroring European patterns.

The firm’s sponsorship of AC Milan in 2024—despite Boomerang’s illegal status in six European countries—proves its strategy: use high-profile partnerships to mask illicit operations. In the U.S., similar deals with regional sports teams could normalize Soft2Bet’s.

Soft2Bet’s operations are not anomalies but symptoms of a broken system. To dismantle this empire, coordinated action is required:

• Europol and FATF must prioritize tracing crypto flows through P2P networks.
• CySEC and MGA should revoke Soft2Bet’s licenses and investigate its role in data harvesting for intelligence purposes.
• National regulators must close jurisdictional loopholes by mutualizing enforcement against offshore entities.
• Players and whistleblowers need safe channels to report fraud without fear of retaliation.

The stakes could not be higher. Every minute Soft2Bet operates, it siphons funds from vulnerable players into networks tied. Its expansion into North America threatens to replicate this cycle on a new continent. Poliavich’s award-winning “innovation” is not technological—it is the refinement of fraud into a global business model. Europe must choose: continue turning a blind eye, or confront the criminal infrastructure masquerading as an industry leader. The victims have waited long enough for justice.