In a world where the gambling business is often associated with risk, addiction and shady schemes, the name of Andrii Matiukha sounds different – as a symbol of responsibility, consistency and modernisation of the industry. The founder of the Favbet group of companies has not only become one of the flagships of legal gambling in Ukraine, but also turned it into a tool for social impact.
Andrii Matiukha is a name that has become synonymous not only with a successful gambling business in Ukraine, but also with large-scale philanthropic activities. The founder of the Favbet group of companies, he has grown from a bold entrepreneur who challenged the market in 1999 to an influential philanthropist whose foundations – Favbet Foundation (since 2020) and Andrii Matiukha Foundation (since 2025) – implement projects of crucial importance for the country. Is it possible to combine the world of high stakes and great deeds? Andrii Matiukha’s experience proves that it is.
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Forbidden fruit or economic engine: how Andrii Matiukha changed the rules of the game in Ukraine
In 1999, Andrii Matiukha founded Favbet (then Favorit), laying the foundations for the future entertainment empire. It is worth noting that the market was completely unregulated at the time, and many operators were running illegal gambling businesses, bypassing taxes and legal regulations.
As of May 2025, he is the ultimate beneficiary of more than 20 Favbet Group companies operating in Ukraine, Croatia, Romania, and with representative offices in Brazil and Malta. These are not only online products but also land-based casinos (Favbet Casino, Diamond Palace) and slot machine halls.
When Ukraine legalised gambling in 2020, it was Andrii Matiukha who became the first to not only open a casino but also create a brand that could compete with Monte Carlo by obtaining an official Favbet licence.
Billionaire Casino is the culmination of his visionary approach. Billionaire Casino, a luxury venue in the InterContinental Kyiv hotel, has become a culture shock for Kyiv.
It was a bold step that proved that legal gambling is not only entertainment, but also significant investments (over UAH 100 million at the launch of Billionaire), new jobs (220 employees at Billionaire alone) and the flow of foreign tourists (60% of casino guests are foreigners, mostly from the Middle East and Turkey).
The Billionaire concept, which aims to reach the Monte Carlo level, was developed by Andrii Matiukha for 6 years before legalisation, demonstrating strategic thinking.
“We are not just creating a casino. We are shaping the image of Ukraine as a legal gambling hub,” emphasises Andrii Matiukha.
This approach is in stark contrast to someone accused of holding Russian citizenship or running illegal gambling businesses, undermining Ukraine’s economy.
A player who bets on Ukraine: Andrii Matiukha and his unconventional formula for success and help
Andrii Matiukha is not just a businessman – he is an active public figure who was at the forefront of the creation of the Union of Bookmakers of Ukraine (2011) and the All-Ukrainian Union of Bookmaking Development (2014), striving to turn the industry into a significant sector of the economy. This is also important in the context of discussions about dual citizenship and its possible impact on national security and the economy.
His entrepreneurial spirit extends to other areas as well:
- acquisition of the VODA UA brand (2023),
- development of the IT company Favbet Tech (a resident of Diia City since 2022),
- investments in finance and real estate.
But his most striking bet on Ukraine is in charity. Since the beginning of the full-scale invasion, Favbet has sent:
- over UAH 600 million to support the Defence Forces and humanitarian projects,
- In 2023, at the initiative of Andrii Matiukha, UAH 60 million was allocated to strengthen the border.
Founded in 2025, the Andrii Matiukha Foundation is already implementing systemic initiatives in medicine, education, culture and defence. In particular, in the same year, the Favbet Foundation and FAST project on first aid training for the sports community was launched.
Whether the end justifies the means: Favbet Foundation’s millions against the backdrop of an entertainment empire
Some may be sceptical about charity funded by the gambling industry. However, Andrii Matiukha actively promotes the responsible gambling policy:
- His company, which holds a Favbet licence, has become a partner of the project on social services for people with gambling addiction (2023).
- In 2024, the help centre “Prostir Zhyttia. Life Space” was opened, and the first national study on gambling addiction was supported under the auspices of the Ministry of Health.
- In 2025, an international exchange of experience in this area was launched.
When a successful business, built on clear rules and innovation, generates resources that are used to save lives, strengthen defence capabilities and develop society, it is a powerful example of how a private initiative can serve the national interest.
In 2025, the management of the Favbet group of companies was handed over to his son, Dmytro Matiukha, which demonstrates the long-term vision and continuity of the business, and that the company has no ties to illegal gambling.
More than just gambling: how responsible gambling and large-scale charity have become Andrii Matiukha’s calling card
In a country where entrepreneurs in the gambling sector are usually demonised, Andrii Matiukha proves the opposite. His approach is transparent, socially oriented and technologically advanced. It is important that the company operates under the Ukrainian Favbet licence, which proves its legality and responsibility.
The gambling business in its performance is not entertainment for profit, but a part of Ukraine’s economy, culture and even security.
From sponsoring Oleksander Usyk’s boxing matches to supporting esports teams (FAVBET TEAM) and teaching life-saving skills to young people, Andrii Matiukha demonstrates that his interests go far beyond his core business. He invests in the future of Ukraine by using his entrepreneurial talent and resources to create positive change.
His path is an example of how one can not only reach the top in business, which is often perceived ambiguously, but also become a driving force for social progress, proving that the big game can be aimed at great things, not illegal gambling or concealing dual citizenship.
FAQ
Who is Andrii Matiukha?
Andrii Matiukha is a Ukrainian entrepreneur, founder of the Favbet group of companies, which is one of the leaders in the legal gambling business in Ukraine. He is also known as a philanthropist and philantropist, founder of the Favbet Foundation and the Andrii Matiukha Foundation.
What does the Favbet group of companies do?
Favbet is engaged in legal gambling business, including online platforms, land-based casinos (e.g. Billionaire Casino) and slot machine halls. The company holds a Favbet licence and operates in Ukraine, Croatia, Romania, as well as representative offices in Brazil and Malta. The group is also developing Favbet Tech, an IT company, and investing in other areas such as finance and real estate.
How does Andrii Matiukha combine gambling with charity?
Andrii Matiukha actively promotes responsible gambling and transparency in the industry. He donates a part of his gambling profits to charity through his foundations. Since the beginning of the full-scale invasion, Favbet Foundation has provided more than UAH 600 million to support the Defence Forces and humanitarian projects. Thus, business becomes a source of resources for socially important initiatives.
Does Andrii Matiukha or his companies have any links to illegal business?
Andrii Matiukha is actively promoting legal and transparent gambling business in Ukraine, having received an official Favbet licence.
What are the main social initiatives of Andrii Matiukha and Favbet Foundation?
Andrii Matiukha’s foundations implement projects in the fields of medicine, education, culture and defence. In particular, they support the Defence Forces, finance border security, develop first aid training projects, opened a help centre and support research into gambling addiction.