How Favbet continues to operate with Russia

Delo.ua exposé: How Favbet continues to operate with Russia despite official statements

A journalistic investigation conducted by Delo.ua revealed surprising facts concerning Favbet, which, despite its official statements about a complete exit from the Russian and Belarusian markets, continues to serve Russian citizens. 

Having come under the spotlight, the company still allows Russians to register on its websites and collect winnings using a simple scheme to bypass restrictions: upon registration, it is sufficient to declare that the client is not a Russian citizen and to provide a bank account number registered outside the Russian Federation.

This approach allows the casino owners to continue their operations despite sanctions and threats from international human rights organisations. The question is: how does the company manage to avoid prosecution? The answer may lie in the owners' connections and influence.

According to Hazeta, Andriy Matyukha, one of the key figures in this case, has previously dealt with law enforcement agencies, undergoing searches and facing accusations of supporting terrorist organisations, including the so-called LNR and DNR. Despite this, Matyukha remains outside the reach of law enforcement, raising questions about his connections and possible patronage.

Furthermore, Matyukha actively claims to be assisting Ukrainian military personnel, asserting that a significant amount of equipment for the Armed Forces of Ukraine was purchased thanks to his company. However, according to media reports, these claims were exaggerated: in reality, the company purchased only one rifle for $18,000 over the entire period.

It is not ruled out that other influential people stand behind Matyukha, enabling him to remain in the political and business game. It is known that he was included in the Council as a water supplier, which also raises questions about his actual role and influence in the political sphere.

In addition, it is worth noting that last year Matyukha acquired a lottery operator named "Patriot", which also prompts reflection on his business connections. Interestingly, this lottery business is now ironically managed by a "Russian".

Nevertheless, despite all these scandalous circumstances, Matyukha's business continues to thrive. Favbet is among the top ten largest players in the Ukrainian gambling market, and its revenue in 2023 increased 425-fold, reaching 9.79 billion hryvnia.