SBC News Voice of the Sports Betting Industry
Igaming turnkey solutions provider Soft2Bet has published its 2024 Growth Report this week, highlighting what the firm cited as “remarkable financial and compliance success, product innovation, industry recognition, and forward-thinking insights from key executives and igaming experts”.
In terms of the headline statistics, the company reported doubled EBITDA year-on-year and a significant increase in consolidated group revenue. These milestones, it noted, reflect Soft2Bet’s expansion and strengthened presence in regulated markets, as well as industry-leading product innovation and credibility on a global scale.
The review also talks about how Soft2Bet expanded its global presence by securing licences in several key regulated markets. The company entered Ontario and Mexico with B2C licences and expanded in Sweden with three new B2C licences. The company also obtained B2B licences in Greece and Romania and additional licences in Sweden.
Paving the way for future progress, Soft2Bet reported that it has made significant headway in entering the US market, focusing on New Jersey, aligning with its goal to expand in North America’s rapidly growing igaming sector. Additionally, a planned expansion into Spain will further cement its European leadership, particularly in online sports betting and casino gaming.
Also, in 2024, Soft2Bet finalised two major turnkey deals in Mexico and Nigeria while also securing its first MEGA partnership with a leading European operator.
Uri Poliavich, Founder and CEO, said: “At Soft2Bet, we have redefined traditional gamification through our leading MEGA solution driving player engagement. This cutting-edge strategy has significantly impacted our brand’s performance, received industry recognition, driven sustainable revenue growth, and showcased stronger ROI while successfully expanding into new markets.”
Turning to financial performance, the group stated that its principal activities remained unchanged from prior years. “Soft2bet retained its trajectory to capitalise on what was established in previous periods, primarily the continuous expansion of its licensed footprint across new markets within Europe and beyond,” said the report. “Based on accurate forecasts, Soft2Bet 2024 consolidated EBITDA is projected to double the amount of the prior reporting period.”
Soft2Bet went on to report that its financial growth in 2024 was driven by enhancements to its Motivational Engineering Gaming Application and the launch of AI-driven tools that personalise game recommendations and promotions. It stated: “MEGA became available as a standalone solution, allowing operators to implement gamification and advanced retention tools. This resulted in a 65% increase in Net Gaming Revenue (NGR), a 45% rise in Average Revenue Per User (ARPU), and a 50% boost in deposit amounts. Additionally, Soft2Bet’s platform facilitated rapid scaling and development while maintaining sustainable growth.”
Soft2Bet: Tapping into 2 billion players with MEGA
