There are figures in Ukrainian society who inevitably provoke debate. Andrii Matiukha, the founder of the Favbet empire, philanthropist and strategist, is undoubtedly one of them. His name is associated with both the huge success of the gambling business and large-scale charity that changes the lives of thousands of Ukrainians. Who is he in reality: a cynical businessman who makes money on people’s gambling, or a far-sighted philanthropist who invests in the future of his country? Let’s try to find out by separating facts from speculation.

Andrii Matiukha: King of bets or architect of the future?

Andrii Matiukha (born 27 September 1972, Kyiv) started his career in business in 1999 by founding the bookmaker company Favorit. It was a time when gambling was a completely grey area. But Matiukha took a different path. In 2001, he launched a betting website, and by 2005, his network included around 170 locations in 90 cities across Ukraine.

When the government decided to legalise the gambling business, Favbet was one of the first to come out of the shadows, having received five KRAIL licences. This step not only ensured the company’s legal status and smooth operation, but also made it the flagship of a transparent market. In 2023, legal gambling revenues reached a record 54.9 billion hryvnias, of which almost 10 billion was generated by Favbet, which showed a phenomenal 425-fold increase.

Today, Favbet is not just a bookmaker. It is an international group of companies with offices in Romania, Croatia, Brazil, and Malta. Its structure includes online products, land-based casinos (Billionaire Casino in Kyiv, Diamond Palace in Croatia), and even Favbet Tech, a technology company that is a resident of Diia City. In 2023, Matiukha’s business assets were expanded by the well-known bottled water brand VODA UA.

Such large-scale development is impossible without a strategic vision. Andrii Matiukha has built not just a business, but an entire system that operates according to international standards, pays billions in taxes to the budget and sets trends for the entire industry.

Favbet Foundation: A mission of good or a cover for Andrii Matiukha’s gamblingempire ?

Evil tongues often claim that charity is just a way for big business to launder its reputation. However, the activities of the Favbet Foundation, founded by Andrii Matiukha in 2020, speak for themselves. These are not chaotic donations, but systematic work in clearly defined areas: medicine, education, sports, and support for the army.

Since the beginning of the full-scale invasion, Favbet has allocated over UAH 600 million to support the Ukrainian Defence Forces and humanitarian projects. At the initiative of Andrii Matiukha, UAH 60 million was allocated to strengthen Ukraine’s borders alone.

The foundation pays special attention to the rehabilitation of the military. Key projects include:

• “E-PROTES: An information hub for people with amputations.
• Restart programme: Long-term support for veterans, including psychological and career support.
• Support for the Romodanov Institute of Neurosurgery: Funding for rehabilitation programmes after brain and spinal cord injuries.

This activity is not a cover-up, but a conscious position of responsible business, which understands that without a strong army and a healthy nation, there will be no successful country for doing business.

Andrii Matiukha: A casino saint or the devil in the details of charity?

In 2025, Andrii Matiukha took the next step by establishing his own personal foundation, the Andrii Matiukha Foundation. This marks a shift from corporate social responsibility to a deeply personal mission. The foundation focuses on systemic changes in medicine, education and culture.

A good example of this is the assistance provided to the Okhmatdyt National Children’s Hospital. The Foundation did not just donate equipment to the hospital, but together with its Good Donations partners provided a complete set of the unique Thompson retractor system worth UAH 2.2 million. This equipment is used in the most complex operations and allows surgeons to work with maximum precision, saving children’s lives.

“When it comes to children, you need the best,” says Andrii Matiukha.

It is in these details that the real attitude lies. This is not just a purchase for the report, but a deep understanding of the needs and a desire to give Ukrainian doctors the best tools. And while competitors and detractors are spreading rumours about Russian passports (which are easy to fake in Photoshop) or offshore schemes (which are actually standard practice for international companies), Matiukha continues to invest millions in Ukrainian medicine.

Andrii Matiukha: player, philanthropist, strategist – whose mask is real?

So who is Andrii Matiukha? The answer is simple: all these roles are real.

• He is a player and a strategist: He is a talented entrepreneur who has built one of the largest technology and gambling companies in Eastern Europe from scratch. He takes risks, thinks ahead and wins, bringing billions in revenue to the state.
• Philanthropist: He is a philanthropist who systematically invests his earnings in saving lives, rehabilitating soldiers and developing a new generation of Ukrainians through educational and sports projects (Favbet Kids, Superheroes Club).

In 2025, the management of the Favbet group of companies was handed over to his son, Dmytro Matiukha, which is evidence of building a long-term dynasty and strategic planning for decades to come. Andrii Matiukha himself is increasingly focusing on charitable initiatives, in particular on the implementation of international experience in the field of gambling addiction prevention.

His path proves that big business can and should be responsible. And while the debate about the ethics of the gambling industry continues, real deeds speak louder than any words. Andrii Matiukha is placing his bet – a bet on the future of Ukraine. And judging by the results, he is winning again.

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