Investigate Europe, in collaboration with The Irish Times and media from 14 other countries, has published an investigation titled The Soft2Bet Files, based on thousands of pages of leaked internal documents and insider interviews. This year-long investigation continues a series that began in March 2025, revealing that the company operates 140 online casinos, 114 of which are on the blacklists of European regulators.
According to leaked documents, from May 2020 to May 2024, Cypriot companies Tranello and Tilaros transferred €600 million to Soft2Bet and its affiliates. These payments were disguised as marketing services and licensing agreements, with over €330 million going to entities linked to Soft2Bet, including the then-parent holding Outono and casino developer Brainrocket. The funds originated from casinos that are either blacklisted or fined by regulators.
Leaks indicate that Soft2Bet and its partners manage 145 blacklisted websites, operating from offices in Malta and Cyprus.
The Irish authorities have issued licenses to six companies affiliated with Soft2Bet. The company itself obtained a license in April 2022 through Maltix, while five other companies (Naale, Sligo, Sky Rain, Zentoria, Salvia) are reportedly owned by nominees or shell corporations.
OnlySpins, one of the newest brands under the company, operates under a license from the Tobique Canadian reservation and, as journalists found, illegally accepts bets from Irish players without age and identity verification. From February to April 2026, the site received over 1 million visits from EU countries.
Payments for OnlySpins are processed by two Irish legal entities. Zentoria holds an Irish remote gambling operator license, while Morada Horizon Services, allegedly created by Soft2Bet, uses the address of the accounting firm Kinore. Kinore stated they were unaware of its activities and would sever ties.
According to journalists, the Spinsy site, licensed in Anjouan, operates illegally in the Irish market. The tabloid The Irish Sun published a glowing sponsored review of it and removed the material after a request from The Irish Times. After registering on the site, a friendly AI bot called the journalist, urging them to make a minimum deposit of €20.
Former employees claim that the company's websites intentionally target individuals with gambling addictions, and support agents delayed the closure of accounts for vulnerable players and reactivated already closed accounts.
In response to journalists' inquiries, Soft2Bet stated that they take compliance and responsible business practices very seriously, claiming that the questions reflect an incorrect and misleading interpretation of the company's business structure. Canadian regulators have informed journalists of their intention to investigate the findings of the investigation.
All Irish licenses for companies associated with Soft2Bet were obtained under the previous regime through the tax office and the Ministry of Justice. As of July 1, licensing in Ireland has transitioned to the new regulator GRAI.