Irish authorities granted gambling licences to six companies linked to Soft2Bet, a global network accused by Investigate Europe of operating 140 online casinos. This regulatory gap allowed the network to use Irish entities, including Zentoria Ltd, to process payments for unlicensed sites targeting European users and gambling addicts.
How did Soft2Bet bypass Irish gambling regulations?
Soft2Bet utilized a network of shell companies and proxies to secure legal footing in Ireland. According to an investigation by The Irish Times, the group obtained an Irish licence in April 2022 via its Maltese entity, Maltix Ltd. Five other connected entities—Naale Ltd, Sligo Ltd, Sky Rain Ltd, Zentoria Ltd, and Salvia Ltd—also secured licences.
While these entities held licences, the investigation found that Soft2Bet-linked sites without Irish authorization continued to target Irish gamblers. For example, the site Spinsy used a licence from Anjouan in the Comoros Islands, which the Central Bank there has declared illegal.
What role did Irish payment processors play in the network?
Two Irish firms acted as financial conduits for unlicensed gambling operations. Zentoria Ltd, which held a remote gambling operator (RBO) licence from the Revenue Commissioners, processed payments for OnlySpins. OnlySpins is a bookmaker and casino featuring pornographic content that targets Europeans without verifying if Irish users are over 18.
Morada Horizon Services also processed these payments. This firm used the Baggot Street offices of accountants Kinore as its registered address. Leaked records link Soft2Bet to the formation of Morada Horizon Services. Kinore told The Irish Times it was unaware of the business’s activities and would terminate the relationship.
Who is behind the Soft2Bet gambling empire?
Ukrainian-Israeli millionaire Uri Poliavich leads Soft2Bet. The organization maintains high-profile visibility through sports sponsorships. Its betting site, Rabona, sponsors the Italian football team Napoli, and Atlético Madrid manager Diego Simeone was named a brand ambassador earlier this year.
Soft2Bet denied the allegations of regulatory evasion. In a statement, the company claimed the questions reflected “an incorrect and misleading interpretation” of its corporate structure and asserted that it operates in accordance with legal requirements.
Why does this matter for consumer protection?
The use of “friendly AI bots” to solicit deposits highlights a shift toward aggressive, automated recruitment. A reporter for The Irish Times experienced this firsthand after signing up for Spinsy, receiving a call from a bot urging a minimum deposit of €20.
Former staff interviews reveal a deliberate strategy to target individuals with gambling addictions while ignoring local laws. Because these sites often operate through shell companies in Malta or Cyprus, tracing the ultimate beneficial owner becomes difficult for regulators.
Comparison of Regulatory Status
| Entity/Site | Licence Source | Regulatory Status |
|---|---|---|
| Maltix Ltd | Ireland | Licensed (April 2022) |
| Spinsy | Anjouan (Comoros) | Illegal per Central Bank of Anjouan |
| OnlySpins | Tobique (Canada) | Unlicensed in Ireland/Europe |
Frequently Asked Questions
What is the Soft2Bet Files investigation?
It is a follow-up project by The Irish Times and Investigate Europe, involving partners like France 2 and The Toronto Star, examining how the gambling industry exploits regulatory loopholes.
How did the Irish Sun get involved?
The Irish Sun published a positive sponsored review of Spinsy. The content was removed after The Irish Times contacted the publication.
What is an RBO licence?
A remote gambling operator licence issued by the Revenue Commissioners in Ireland, which was held by Zentoria Ltd.
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