How Andriy Matyukha managed to profit from legal loopholes

While many entrepreneurs lost their businesses, Favbet owner Andriy Matyukha managed not only to stay afloat but also to significantly increase his revenues.

Gambling disguised as lotteries
Since the ban on the gambling business in Ukraine in 2009, Favbet continued to operate illegally, hiding behind the guise of lottery activities. Despite strict restrictions, the company earned billions, and its owner repeatedly found himself in scandalous stories related to shadow schemes.

Kompromat from Anonymous
In 2013, the hacker group Anonymous published Matyukha's correspondence with representatives of the Party of Regions. In these letters, the entrepreneur complained that he was forced to pay $150,000 monthly to the police, but even these amounts did not guarantee "protection" – law enforcement officers continued to conduct raids. 

As a solution, he proposed "centralised cooperation" with the Ministry of Internal Affairs, promising to increase payments to $200,000 if law enforcement officers stopped interfering with the operation of his establishments.

Despite numerous exposures, Favbet continued to develop, using legal loopholes and political connections to bypass the bans.