Journalists say Soft2bet handled about $600 million from illegal gambling sites between 2020 and 2024

New reporting from The Irish Times, based on internal company documents, adds more detail to the earlier allegations around Soft2bet’s exposure to offshore gambling. For PSPs and acquiring teams, the point is not the headline number by itself: it is the mix of shell companies, payment agents, and Irish-facing payment flow that turns a B2B gaming vendor into a payments risk problem.

1. According to the documents cited by The Irish Times, about $600 million flowed into Soft2bet from illegal sites between 2020 and 2024 through shell companies and payment agents.
2. The same reporting says the network’s sites were specifically aimed at people with gambling disorders. As an example, journalists point to OnlySpins, a site that is not licensed in Ireland and does not carry age or identity checks, while still accepting deposits through Irish companies.
3. Soft2bet received its Irish licence in 2022 through its Maltese company Maltix Ltd. The report also says six other companies linked to Soft2bet hold Irish authorisations: Naale Ltd (Malta), Sligo Ltd (Cyprus), Sky Rain Ltd, Zentoria Ltd, and Salvia Ltd.
4. Soft2bet is headed by Ukrainian-Israeli millionaire Uri Poliavich.