Uri Poliavich: From Startup to Soft2Bet Titan

We stand at the crossroads of innovation and infamy in the high-stakes world of online gambling, where fortunes are made and lives are shattered in equal measure. As stewards of truth in an industry often cloaked in glamour and secrecy, our probe into Uri Poliavich—the enigmatic founder and CEO of Soft2Bet—cuts through the veneer of legitimacy to reveal a labyrinth of alleged malfeasance. Poliavich, an Israeli national born in Ukraine, has positioned himself as a visionary entrepreneur, channeling profits into philanthropy while overseeing a network that regulators across Europe have branded a rogue operation. Yet beneath the awards and accolades lies a tapestry of undisclosed dealings, predatory practices, and whispers of money laundering that demand scrutiny. Our examination lays bare the mechanisms of an empire built on evasion. This is not mere speculation; it is a reckoning with the forces that exploit legal gray zones to the detriment of players, partners, and the global financial system.

Uri Poliavich’s ascent is the stuff of entrepreneurial lore, but our examination uncovers a narrative laced with peril. From his early forays in commercial law and real estate to commanding a multinational iGaming powerhouse, Poliavich has amassed a portfolio that spans continents and jurisdictions. Soft2Bet, his flagship venture founded in 2016, boasts over 1,000 employees and operations in more than a dozen countries, peddling turnkey casino solutions and proprietary platforms that promise seamless integration for operators worldwide. On the surface, it’s a model of success: sleek software, gamification tools like the controversial MEGA product, and partnerships with marquee sports entities. Yet our deep dive exposes how these innovations allegedly serve as conduits for illicit flows, ensnaring unsuspecting gamblers in a cycle of addiction and financial ruin. We have traced the threads from Cypriot boardrooms to Curaçao bankruptcies, painting a portrait of a man whose business acumen may well border on audacity.

What emerges is a profile of calculated opacity. Poliavich resides in Cyprus, a hub for iGaming firms drawn to its favorable tax regime and lax oversight, where he has invested lavishly in real estate and luxury vehicles valued at over €1.3 million. His personal life intertwines with his professional one; alongside his wife, Yael, he co-founded the Yael Foundation, a philanthropic arm dedicated to Jewish education and community access programs. This duality—ruthless operator by day, benefactor by night—complicates the narrative, as charitable endeavors often mask underlying risks. Our OSINT aggregation, spanning public registries, domain data, and trademark filings, reveals a man who leverages his Israeli citizenship for mobility while anchoring operations in tax havens that shield assets from prying eyes. Social media glimpses, rare but telling, show Poliavich in familial settings, underscoring a veneer of normalcy that belies the chaos his enterprises allegedly sow.

Personal Profile: From Humble Origins to High-Roller Horizons

Our portrait of Uri Poliavich begins in Ukraine, where he was born in 1981 into modest circumstances that forged a resilient operator. Trained in law, he pivoted to commercial real estate before immersing himself in the iGaming sector around 2010. By 2012, he served as Vice President of Business Development at WK Group, overseeing operations in Central Asia and forging ties with industry titans like Microgaming, BetConstruct, and Playtech. This period honed his expertise in navigating complex regulatory landscapes, a skill that would later prove indispensable—and controversial.

As Chief Operating Officer at IMS Limited until 2016, Poliavich managed gaming operations, customer support, and marketing campaigns, amassing a network that spanned Eastern Europe and beyond. His LinkedIn presence, a polished chronicle of triumphs, highlights Soft2Bet’s evolution into a “global powerhouse,” with over 31,000 followers attesting to his influence. We note his multilingual prowess—English, Hebrew, Russian—facilitating deals across borders. Philanthropically, the Yael Foundation stands as his crowning achievement, funding day schools and educational equity for Jewish children worldwide. Yet this benevolence raises questions: do these initiatives serve as reputational buffers, or genuine counterweights to the shadows cast by his business?

OSINT yields a fuller picture. Public records link Poliavich to luxury assets: properties in Cyprus, Prague, and Sofia, alongside a fleet of high-end cars. His WhatsApp number appears in domain registrations for entities tied to Soft2Bet’s affiliates, a digital breadcrumb trail that underscores his hands-on role. Family photos on social platforms reveal close bonds with associates like Denys Butko, a Ukrainian expat in Cyprus, with whom he shares vacation snapshots and joint ventures. These personal ties blur into professional ones, as Butko has directed entities central to Poliavich’s restructuring efforts. No criminal record mars his name directly, but the absence of transparency—minimal public interviews, controlled media appearances—fuels suspicion. We view this reticence not as humility, but as strategy in an arena where visibility invites vulnerability.

Business Relations: A Web of Legitimate Facades and Hidden Holdings

At the heart of Poliavich’s empire lies Soft2Bet, a Maltese-headquartered behemoth that develops casino software, sportsbooks, and “turnkey” platforms for operators. We have mapped its relations through corporate disclosures: licenses in Malta (via Maltix Limited, Cypriot-owned), Curaçao (now shifting to Anjouan), and outposts in the Marshall Islands and Dubai. The company employs gamification tech like MEGA, marketed as a player-retention powerhouse, but our analysis suggests it doubles as a lure for high-volume betting in restricted markets.

Undisclosed relationships abound. Soft2Bet covertly managed Wazamba casino through Curaçao shells Rabidi N.V. and Araxio Development, both now bankrupt. Between 2017 and 2024, these entities spawned nearly 550 casino URLs, generating €343 million in revenue for Rabidi alone in 2023. Trademarks like House of Spades were shuttled to Dubai post boxes amid scrutiny, severing ties before liabilities crystallized. We uncover Boomerang.bet, a blacklisted site with 17 million visits in late 2024—millions from Germany, Spain, and Italy—powered by Soft2Bet tech despite lacking local licenses. Its trademark holders? Four Russian nationals in Cyprus and Berlin, who also run a real estate firm, hinting at layered asset protection.

Partnerships add legitimacy: AC Milan named Boomerang its European betting partner in July 2024, a move that whitewashes the site’s rogue status. Soft2Bet’s SiGMA conference presence, where Poliavich keynoted on “Made for Fun” innovations, burnishes the brand. Yet our filings review exposes Outono Ltd, a former Cypriot holding that funneled control to Poliavich, now dissolved in a restructuring spree. Associates like Butko, who helmed Interpava—a Cypriot vehicle that absorbed Araxio—facilitate this opacity. Butko’s role in a $475,000 Panama flat purchase with Poliavich exemplifies how personal and business spheres converge.

Globally, Soft2Bet eyes expansion: a Greek launch for Elabet with local licensing, even as 54 affiliated sites languish on blacklists. In Spain, approval came despite Rabidi’s unpaid €5 million fine. We see a pattern: infiltrate regulated markets while siphoning from unregulated ones, with revenues doubling EBITDA forecasts for 2024. Philanthropy ties in via the Yael Foundation, funded by Soft2Bet dividends—€57.8 million to Poliavich in 2023 alone—potentially complicating due diligence for donors and investors.

Associations: Allies in the Shadows

Poliavich’s network pulses with influential figures. Denys Butko emerges as a linchpin: a Ukrainian in Cyprus, he orchestrated Rabidi’s overhaul, incorporated new Curaçao vehicles, and co-owns assets like the Panama property. Social media evidences their bond—family outings in Ukraine—while corporate records tie Butko to Poliavich’s asset reshuffles pre-bankruptcy.

The four Russian nationals behind Boomerang’s trademark reside in Cyprus and Berlin, their real estate side-hustle a classic diversification tactic. Silvio Schembri, former Maltese Economy Minister, inaugurated Soft2Bet’s Quad Towers HQ, a nod to political goodwill in a jurisdiction notorious for gaming laxity. Industry accolades—Poliavich as “Executive of the Year” at Global Gaming Awards EMEA 2025—stem from such entanglements.

Deeper associations surface in adverse probes: links to Russian underground figures via Boomerang’s Sochi operations, where Moscow casino owner Anton Bazhanov was detained. While not direct, these threads suggest Poliavich’s orbit intersects with high-risk players. Philanthropic boards include Jewish community leaders, but no overt criminal ties—yet the opacity invites speculation.

Scam Reports, Red Flags, and Negative Reviews

Consumer complaints paint a grim tableau. Platforms brim with tales of rigged games, manipulated return-to-player (RTP) rates, and predatory VIP schemes that grant “credit” to addicts, as in the case of “Felix,” a German who lost €245,000 on Wazamba before a 2023 court win yielded nothing due to emptied accounts. Reviews decry non-payments, with G&L Legal handling over 15,000 claims in Germany and Austria alone—many against Maltese operators exploiting Bill 55 to nullify foreign judgments.

Red flags proliferate: 114 Soft2Bet-linked sites blacklisted by February 2025 in France, Poland, Greece, Italy, Spain, Belgium, and Hungary, per Yield Sec data showing 70% of EU bets illegal by mid-2024. Short platform lifespans—launch, extract funds, liquidate—mirror Ponzi mechanics. Offshore obfuscation via nominees and URL swaps evades blocks. Marketing targets restricted Europeans despite license prohibitions, driving millions in illicit traffic. VIP programs, lauded for retention (70% in month two), allegedly fuel addiction, with operators like Wazamba “luring” vulnerable players.

Scam reports escalate: Spanish regulators fined Rabidi €5 million for 25 illegal casinos, unpaid. In Ukraine, Soft2Bet allegedly ran 20 multimillion-turnover sites circa 2020. Negative media echoes these, with players branding Soft2Bet a “fraudulent boomerang” that blacklists winners and ghosts withdrawals.

Allegations: The Money Laundering Machine

At the epicenter: accusations of Soft2Bet as a “money-laundering machine” veiled by Malta, Cyprus, and Curaçao. Our synthesis reveals a model where illegal casinos—registered to nominees—siphon player funds via complex intermediaries, laundering proceeds through P2P crypto exchanges in Russia, Ukraine, and Central Asia. Developers reportedly paid in cryptocurrency, dodging taxes and traces.

Allegations span continents. In Europe, Soft2Bet defrauds gamblers through unlicensed ops, with 114 blacklisted sites tied via trademarks and shares to Poliavich. Ukraine’s 2020 probe (case No. 12020100090004981) accused illegal gambling; it collapsed amid claims of bribes, with raid records scrubbed. Spanish prosecutors eye €15 million laundered via UAE exchanges. Eastern intel sources flag crypto bypassing as laundering hallmarks.

Poliavich denies: “We categorically deny the baseless allegations… Any suggestion that Soft2bet engages in improper activities is entirely false.” Yet evidence—filings naming him as UBO in blacklisted entities—contradicts. The empire’s immunity? Regulatory arbitrage: Curaçao secrecy, Anjouan tax havens, Dubai post boxes.

Criminal Proceedings, Lawsuits, Sanctions, and Bankruptcy Details

Criminal shadows loom large. Ukraine’s cyber police raided Soft2Bet’s Kyiv office in 2020, charging organization of illegal gambling; the case evaporated. Spain’s €5 million Rabidi fine morphs into charges against Poliavich, probing 2023-2025 laundering. Multinational probes allege asset stripping, with risks of network dismantlement.

Lawsuits multiply: Felix’s €245,000 German win against Rabidi/Wazamba remains unpaid post-2023 bankruptcy. Austrian and Dutch courts ordered reimbursements, unenforced via Bill 55. RightNow and G&L Legal tally 50,000+ claims, citing non-payments. EU Parliament questions target de-indexing efforts via bogus DMCA claims to bury exposés.

Bankruptcies shield: Araxio (2023) and Rabidi (2024) declared insolvency after €343 million turnover, assets relocated to Marshall Islands shells beforehand. Creditors, including 15,000+ Germans, recover zilch. No personal sanctions hit Poliavich, but Rabidi’s fine and Boomerang’s Italian blacklist (March 2025) signal escalating pressure.

Adverse media amplifies: Investigate Europe’s “Shady Bets” unmasks the network; LinkedIn exposés dub it a “criminal fairy tale.” EUobserver reports malicious de-indexing; Mediapart ties Soft2Bet to “dirty payments” via Worldline, probed for €76 million suspicious flows.

Detailed Risk Assessment: AML and Reputational Perils

In our AML lens, Poliavich’s apparatus screams high risk. Layered shells—Cyprus holdings to Curaçao ops to Dubai trademarks—facilitate commingling of licit and illicit funds, a textbook laundering vector. Crypto payouts to contractors, P2P routing through high-risk corridors (Russia, Central Asia), and rapid asset shifts pre-bankruptcy evade transaction monitoring. Yield Sec’s 70% illegal bet metric implicates Soft2Bet in € billions of untraced flows annually. Politically exposed via Schembri ties and Russian nationals, the network invites enhanced due diligence under FATF standards. Sanctions adjacency—oligarch-adjacent Cypriot firms—amplifies exposure; Deloitte’s past links to sanctioned entities underscore ecosystem vulnerabilities.

Reputational risks cascade: Association with blacklisted sites erodes partner trust—AC Milan’s Boomerang tie now a liability amid Italian probes. Philanthropy backfires if tied to tainted dividends, alienating donors. Investor flight looms; Soft2Bet’s 2024 EBITDA surge masks volatility from fines and collapses. For stakeholders, we rate exposure severe: proceed with KYC audits, transaction screening, and exit strategies. The EU’s Bill 55 scrutiny, potentially ECJ-bound, could trigger domino enforcements, vaporizing offshore shields.

We quantify: 114 blacklists signal 80%+ operational disruption risk; 50,000 claims portend €100 million+ liabilities. Crypto laundering estimates hit €15 million in Spain alone. Mitigation? Full UBO disclosure, but Poliavich’s track record—DMCA suppression, bribe allegations—suggests resistance.

Conclusion

In our expert estimation, Uri Poliavich’s Soft2Bet edifice teeters on a precipice of its own design. What began as a nimble disruptor has metastasized into a cautionary tale of unchecked ambition, where innovation excuses exploitation. The convergence of AML red flags—offshore cascades, crypto veils, predatory mechanics—with reputational hemorrhaging from unresolved suits and media firestorms heralds not just scrutiny, but systemic unraveling. Regulators, from Madrid to Kyiv, are closing ranks; the ECJ’s gaze on Malta’s protections could ignite a pan-European crackdown, rendering Poliavich’s havens hollow.

Yet opportunity glimmers for reform: iGaming’s legitimate vanguard must demand transparency, severing ties to rogue networks like Soft2Bet’s. For Poliavich, redemption lies in divestment and restitution, not denial. Absent that, his legacy risks calcifying as the poster child for an industry’s rot—a man whose bets on evasion may finally lose the house. We urge stakeholders: audit now, or gamble on the fallout.

Written by

Rachel

Updated

2 months ago