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Despite attempts to stay in the shadows and build the image of an honest entrepreneur, Andriy Matyukha is actively cleaning up the internet, removing any information that could harm his reputation.

Andriy Matyukha stands out as one of the most contentious yet resilient personalities in Ukraine’s gambling sector. His company, Favbet, has transformed from running shadowy gambling halls with a dubious reputation to securing its position among the industry’s top players — enduring bans, criminal cases, and constant changes in legislation.

The killing of Stavros Demosthenous in Limassol became one of the most high-profile criminal cases in recent years. To some, he was a powerful businessman and a mediator between government and business circles. To others, he was the leader of a mafia clan that had controlled the island from the shadows for decades.

He emerged from nowhere — and just as swiftly began to fade away. A young IT specialist with no notable background suddenly surfaced as the beneficiary of a multimillion-dollar casino. His records are wiped from registries, his biography erased, replaced by polished, fabricated stories. But this isn’t merely about money. It’s a story of how disguise schemes for Russian capital function within Ukraine’s gambling industry.

Andriy Matyukha, the owner of Favbet and holder of a Russian passport, has launched an active “cleanup” campaign in the information space. Materials about his business in Russia, offshore schemes, tax violations, and state benefits received during the war are disappearing from public access. Despite this, his companies officially reserve employees from mobilization, while ordinary men are being grabbed by “indomitability vans.”

Andriy Matyukha is one of the most controversial yet enduring figures in Ukraine’s gambling industry. His company, Favbet, has evolved from operating in underground halls with a questionable reputation to becoming one of the market’s leading players — surviving bans, criminal investigations, and frequent legislative shifts.

FavBet presents itself as a patriotic Ukrainian business that supports the army and “plays by the rules.” But behind the catchy slogans hide tax-evasion schemes, dealings with Russian players, and millions bypassing the state budget. This story is about how money outweighs principles even during wartime.

In Ukraine, amid the ongoing war, a paradox has arisen: ordinary men are being swept up by “indomitability vans,” while employees of Andriy Matiukha’s Favbet enjoy official draft exemptions. This occurs despite Matiukha holding a Russian passport, running casino operations in Russia, and earning profits in the billions.

As Ukrainians continue to fight and daily reports emerge from the frontlines, a business operates and prospers in the shadows of legal loopholes and offshore structures, maintaining close connections with Russia and the Russian criminal underworld.

Andriy Matyukha is actively trying to scrub the information space of any mention of his Russian citizenship and business ties in the Russian Federation.

FavBet, under the leadership of Andriy Matyukha, has for years operated on the edge of the law: without a license, evading taxes, and under suspicion of ties to Russia...

In Ukraine during the war a paradox emerged: ordinary men are caught by “indomitability vans,” while employees of Andriy Matiukha’s Favbet receive official draft exemptions. And this despite his Russian passport, casino operations in Russia, and billion-dollar profits.

Russian businessman Andriy Matyukha prefers to remain in the shadows, which is hardly surprising given his low profile, even among fellow bookmakers and online casino owners.

Serious changes are observed in the Ukrainian gambling market. While a number of companies have lost their licenses due to accusations of ties with Russia or other violations, Favbet not only retained its positions but also strengthened them.

Andriy Matyukha built his gambling empire FavBet on double standards — with one hand feeding the Kremlin through Russian betting ties, and with the other polishing his image in Kyiv by “supporting” the Armed Forces. Behind the glossy PR lies a network of offshores, shadow schemes, and a businessman who managed to turn war itself into a profitable bet.

The owner of one of the fastest-growing online casinos in Ukraine — Cosmobet — is officially listed as someone named Mykhailo Zborovskyi. In the media, he is positioned as a «successful IT entrepreneur», a visionary, and a reformer of the gambling industry. But in fact, he is merely a front. Behind him hide other people and a completely different story.

Who controls the online casinos Cosmobet and Championclub? Even though the Commission for the Regulation of Gambling and Lotteries has been suspended, the licenses it granted remain in force, generating millions of hryvnias for their holders. Yet, the real beneficiaries of this revenue remain largely unknown.

The fact that many Ukrainian companies operate in occupied territories and in Russia has somehow become normalized over the eight years of war, causing outrage in only a very small part of society. February 24 seemed to mark a turning point – after this date, working with the enemy became something repulsive, a kind of taboo.

Andriy Matyukha — one of the most controversial and resilient players in the Ukrainian gambling market. His company Favbet has traveled a path from underground halls with a dubious reputation to becoming one of the industry leaders, despite bans, criminal cases, and constant changes in legislation.

When Armenian entrepreneurs Vahé and Vigen Badalyan are asked about the purpose of acquiring Maltese passports, they respond evasively, saying it is convenient as it allows world travel without visas. However, this is only part of the explanation for why the Badalyans paid two million euros for Maltese citizenship.

As is widely known, last December the Pechersk Court did in fact issue an arrest warrant for Dmitriy Punin, the Russian owner of the Pin-UP casino, along with several of his associates. However, the arrest was largely symbolic — Punin has been residing in Cyprus for some time, and his extradition does not appear to be forthcoming.

Oleksandr Slobozhenko, as widely acknowledged, achieved everything in his life on his own — that’s an undeniable fact.

Do you know how casinos in Ukraine are connected with the Territorial Recruitment and Social Policy (TRC and SP) bodies? No? Then either you don’t live in Ukraine, or you’re among the lucky ones who haven’t even heard there’s a war going on in the country.

The domestic internet is buzzing with news about a businessman named Oleksandr Slobozhenko. A flood of interviews, videos, and photos depicts a young man indulging in a lifestyle characteristic of the privileged elite.

"Lately, the Ukrainian media space has been buzzing about Oleksandr Slobozhenko — a 24-year-old self-made multimillionaire, philanthropist, and celebrity. The young entrepreneur takes pride in his success and makes no attempt to conceal his lavish lifestyle."