Soft2Bet, a leading B2B provider of turnkey solutions in the European iGaming market, has released its 2024 Soft2Bet Research Report, outlining significant financial growth, market expansion, and product innovation. The report provides in-depth analysis of Soft2Bet’s strategic achievements within the casino and sportsbook sectors, including doubling EBITDA, increasing consolidated group revenue, and expanding into regulated markets across Europe and beyond.
Uri Poliavich, Founder and CEO of Soft2Bet, emphasized the company’s continued commitment to growth, innovation, and market leadership in his statement. The report reflects how the company has capitalized on its strategic expansion and solidified its position as a global player in the iGaming industry.
Expansion Across Europe and Beyond
In 2024, Soft2Bet secured multiple licenses to expand into key markets:
- Ontario & Mexico: Secured B2C licenses to enable direct player engagement in these regions.
- Sweden: Expanded with three new B2C licenses, further strengthening its presence in Scandinavia.
- Greece & Romania: Obtained B2B licenses to offer turnkey services to operators in these countries.
- United States: Made significant progress in entering the U.S. market, focusing on New Jersey, as part of its North American expansion strategy.
- Spain: Secured a general casino license from Spain’s Directorate General for the Regulation of Gambling (DGOJ), allowing the company to offer its products in the Spanish market.
In addition to these licenses, Soft2Bet completed two major turnkey agreements in Mexico and Nigeria and secured a strategic MEGA partnership with a leading European operator, further reinforcing its position as a key player in the iGaming industry.
Financial Growth and Market Performance
Soft2Bet’s financial performance in 2024 continued on a strong growth trajectory, with the company achieving a remarkable milestone by doubling its EBITDA compared to the previous year. This growth can be attributed to its strategic expansion into regulated markets and the ongoing enhancement of its B2B product offerings.
By securing licenses in key regions such as Ontario, Mexico, Sweden, Greece, and Romania, Soft2Bet has enhanced its competitiveness in the iGaming sector. Its commitment to regulatory compliance and innovation has strengthened both its financial performance and its reputation as a leading turnkey solutions provider.
Product Innovation as a Key Driver of Success
In 2024, Soft2Bet further demonstrated its commitment to innovation by transforming its Motivational Engineering Gaming Application (MEGA) into a standalone solution. This platform integrates advanced AI-driven personalization tools, enabling operators to seamlessly implement gamification and advanced player retention strategies. The impact of MEGA’s implementation has been significant:
- 65% increase in Net Gaming Revenue (NGR): Reflecting improved player engagement.
- 45% growth in Average Revenue Per User (ARPU): Demonstrating improved monetization per player.
- 50% increase in deposit amounts: Indicating increased player trust and investment.
These results not only contributed to financial growth but also positioned Soft2Bet as a leader in technology-driven user experience. The success of the MEGA platform underscores Soft2Bet’s commitment to delivering innovative solutions that meet the evolving demands of the iGaming industry.
Recognition and Industry Impact
Soft2Bet’s strategic efforts and continuous innovation were widely recognized in 2024, solidifying its role as a responsible corporate entity:
- 38 industry nominations, representing a 322% increase from the previous year.
- 10 industry awards, including recognition at the SBC Awards in Lisbon.
Corporate Social Responsibility (CSR) Initiatives
The company made significant strides in corporate social responsibility by launching nine impactful community initiatives, including:
- Breast cancer awareness campaigns.
- Community cleanup projects.
- Village restoration programs.
Soft2Bet also donated over €1 million to seven NGOs and supported 34 organizations, reinforcing its commitment to making a positive social impact.
Soft2Bet Invest: A €50 Million Fund for iGaming Innovation
In June 2024, Soft2Bet launched Soft2Bet Invest, a €50 million innovation fund designed to support startups in iGaming and casual gaming. The fund focuses on innovative technologies in casual gaming, AI, traffic optimization, behavior UX analytics, and high-margin gaming software with strong profitability and scalability.
Industry Contribution Award
Soft2Bet Invest was awarded the “Outstanding Contribution to the Gaming Industry 2024” at SiGMA East Europe, recognizing the initiative’s impact on innovation, mentorship, and investment within the industry.
These achievements further highlight Soft2Bet’s influential role in shaping the future of iGaming, emphasizing its ongoing commitment to innovation, corporate responsibility, and industry leadership.