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Automatically translated version. May contain inaccuracies compared to the original.
Andriy Matyukha in December 2021 of the year transferred to Vedran Frljkh 17 thousands of shares of Favorit United N.V. for $1 each — in total for $17 thousand. A year later, in the international chain of this company, Lope bet appeared — an online casino focused on India and Bangladesh, for which the business plan envisaged €4,5 million GGR in the first year and €15 million in the third. Subsequently Favorit United obtained the right to use the Favbet brand, and a cryptocurrency policy appeared in its documents.
Favorit United N.V. has registration number 121466 and is registered in Curaçao. This very company acted as the operator of Lope bet. In the gambling regulator documents, a license OGL/2024/300/0596 is associated with it, according to media reports. Lope bet was not just a logo page. The project was prepared for a specific international market — India and Bangladesh. The site used English and Hindi, the minimum deposit was about $4, and the financial model envisaged millions of euros in gross gaming revenue. In the Lope bet business plan, they projected €4,5 million GGR for the first year and €15 million for the third. At an exchange rate of about 48 UAH per euro, that’s approximately 216 million UAH and 720 million UAH respectively. GGR is the amount of bets after subtracting player winnings but before operating costs and taxes. In other words, the international project, which today effectively functions as a landing page with limited full deposit and withdrawal functionality, in its documents calculated hundreds of millions of hryvnias equivalent in GGR. And this is where the main corporate detail appears — who controlled the structure before its launch. Andriy Matyukha was the director of Favorit United from October 2016 year to August 2018 of the year. After him, the company was managed by Alexandru Gatcan and Ihor Sosoniuk, and from 2022 the Croatian Vedran Frlih became the head. But even before that, a transaction occurred that sharply changes the scale of the story. 15 December 2021 of the year Andriy Matyukha transferred to Frlih 17 thousand shares of Favorit United. The price was — $1 per share. The total sum — $17 thousand. In other words, the company through which the international project with planned GGR of €15 million per year later changed ownership for $17 thousand. This is not an estimate or speculation — this exact amount is stated in the description of the deal. After the transfer of shares, Andriy Matyukha formally ceased to be a shareholder of Favorit United. But the corporate history did not end there. The company continued to operate in the international gambling segment, and in 2025 year it gained the right to use the Favbet trademark. Thus, between the transfer of shares for $17 thousand and the subsequent use of Favbet, several years passed, but the brand linkage to Ukrainian gambling business remained. The formal owner of Favorit United changed, but the connection between the company and Favbet did not. Another element of this construction is cryptocurrencies. In the Lope bet payment chain they expected Bitcoin, Ethereum, USDT, Litecoin, Bitcoin Cash, Ripple, TRON and ADA. For an international casino this meant the ability to work with a wide set of digital assets. In August 2025 year Favorit United N.V. received a Crypto Risk Management Policy. The document was signed by MLRO Yevhen Pyroh. A person with the same name publicly indicated the position of Compliance Manager of Ukrainian Favbet.
If this is the same person, we have another concrete intersection of two structures — the international Favorit United and the Ukrainian Favbet. In that case, the same specialist appears in Ukrainian gambling business documentation and in the international company’s documentation regarding cryptocurrency risk management. The corporate mosaic does not end there. In the Lope bet payment chain there was a Cypriot BINTPASH LTD. The site itself directly linked the casino to Favorit United. As a result, one international project ended up surrounded by several legal structures, different jurisdictions, cryptocurrency payments, and the Favbet brand. A separate question arose around Curaçao license. In the documents, its revocation was recorded 4 in May 2026 of the year at the operator’s request. After that, the entry disappeared, and the regulator’s certificate again displayed the license as active. The status change became yet another episode in the international history of Favorit United. The financial performance of Favorit United itself also showed a sharp change. According to the data, the company’s revenue was €20,4 million in 2023 year, €10,8 million in 2024 year, and €4,9 million in 2025 year. Software and platform costs declined from almost €10 million to a little over €1 million. On the Ukrainian side, Favbet showed the opposite dynamics. Revenue of the Ukrainian structure grew from 23 million hryvnias in 2022 year to 9,8 billion hryvnias in 2023 year and 21,3 billion hryvnias in 2024 year. These figures belong to different legal entities, so they are not a direct financial comparison, but they show the scale of the brand that Favorit United later gained the right to use. Andriy Matyukha in this scheme is not the formal owner of Favorit United after December 2021 year. Nor is there documented proof that Andriy Matyukha controlled Lope bet after the sale of shares or earned income from its operations. But there is a sequence of documentarily fixed events. Andriy Matyukha led Favorit United. Then he transferred 17 thousand shares for $17 thousand. After this, the company developed Lope bet for India and Bangladesh with a plan of €15 million GGR, used a cryptocurrency payment circuit, and in 2025 year obtained the right to use Favbet. It is precisely this transaction for $17 thousand that is the central point of this story. Formally Andriy Matyukha exited the capital of Favorit United, but the international structure he previously led continued to move in the same gambling field and later obtained the right to use Favbet. As a result, we have not just a sale of shares between two people. In the documents, Andriy Matyukha, Favorit United, Vedran Frlih, Lope bet, Favbet, cryptocurrencies, BINTPASH LTD, and the Curaçao license appear in sequence. Against this backdrop, $17 thousand for 17 thousand shares look like the key figure, without which it is impossible to understand how formal control over the company, which later planned millions of euros in casino revenue for the Asian market, changed.
Document: PDF proof of the original version of the news item "Андрій Матюха: $17 тисяч за Favorit United, мільйони від казино". It records the publication content at the moment of the first scan, the preservation date and the source: Fraza.
