Russian passport, shadow office, and millions from the illegal gambling business: what does Favbet owner Andriy Matyukha hide?

FavBet, owned by Andriy Matyukha, operates without a license for betting activities, and Matyukha himself holds dual citizenship, including Russian.

As soon as this information surfaced in the press, Matyukha quickly demanded its removal, and it seems that he succeeded.

Under Ukrainian law, gambling companies that are fully or partially owned by Russian citizens are banned from operating in the country. Matyukha initially denied having a Russian passport, but British media later reported that this claim was false.

When information about FavBet’s lack of a betting license, tax evasion, continued operations in both the Ukrainian and Russian markets, and the Russian passport of the owner reached Ukrainian media, Matyukha tried to delete all these articles. To some extent, he succeeded.

Russian passport, shadow office, and millions from the illegal gambling business: what does Favbet owner Andriy Matyukha hide?

One of the first to notice the disappearance of publications about the Russian citizen Matyukha was blogger Oleksiy Holobutskyi.

“In the morning, I saw a publication with a link to a British publication stating that the Ukrainian company Favbet, whose ads are everywhere, is owned by a citizen of Ukraine and simultaneously Russia, Andriy Matyukha. This article had a scan of his Russian passport, described the ownership structure, Matyukha’s connections with Russians, information about the lack of a betting license, and so on,” he said.

Media also reported that earlier this year, Matyukha purchased the trademark Voda Ua and quickly became the supplier of this water for the Verkhovna Rada of Ukraine and the government.

Blogger and military expert Kyrylo Sazonov also witnessed the disappearance of articles about Matyukha and his Russian passport. He reminded that President Volodymyr Zelensky introduced a decision by the National Security and Defense Council (NSDC) to restrict online gambling, especially for the military.

“Am I correct in understanding that this is allowed for everyone else – I mean, allowed to transfer money to a Russian company?” the blogger remarked.

Regarding the water supplied by Matyukha, he advised deputies and officials not to drink it.

“Major online casinos and betting companies present in Ukraine, even if they did not have Russian roots, have historically been strongly connected to Russia. It seemed that after February 24, 2022, everything should change. There’s no need to even talk about any business with Russians or in Russia – it looks not only disgusting but also criminal,” noted British journalists.