Soft2Bet, a leading provider of ready-to-use B2B solutions, has unveiled its 2024 Growth Report highlighting remarkable financial and compliance success, product innovation, industry recognition, and future vision insights from key executives and iGaming experts. In 2024, the company reported a doubling of EBITDA year-over-year and a significant increase in consolidated group revenue.
These milestones reflect Soft2Bet's expansion and strengthened presence in regulated markets, as well as industry-leading product innovation and global scale credibility.
To subscribe to review the 2024 Growth Report, visit https://soft2bet.com/report
Market Expansion
In 2024, Soft2Bet expanded its global presence by securing licenses in several important regulated markets. The company entered Ontario and Mexico with B2C licenses and expanded in Sweden with three new B2C licenses. The company also obtained B2B licenses in Greece and Romania and additional licenses in Sweden.
Looking ahead, Soft2Bet made significant progress in entering the US market, focusing on New Jersey, aligning with its goal of expansion in the rapidly growing North American iGaming sector. Additionally, a planned expansion to Spain will further consolidate its European leadership, particularly in online sports betting and casino games.
Furthermore, in 2024, Soft2Bet finalized two major turnkey deals in Mexico and Nigeria, while securing its first MEGA partnership with a leading European operator.
"At Soft2Bet, we redefine traditional gamification through our leading MEGA solution, driving player engagement. This cutting-edge strategy has significantly impacted our brand's performance, received industry recognition, drove sustainable revenue growth, and presented a stronger ROI, while successfully expanding into new markets," stated Uri Poliavich, founder and CEO of Soft2Bet.
Financial Performance
The Group's main activities remained unchanged from previous years. Soft2bet continued its trajectory to capitalize on what was established in previous periods, mainly the continuous expansion of its licensed footprint in new markets in Europe and beyond.
At the same time, its innovative B2B product offering once again demonstrated its superior quality and effectiveness across the industry. All this is visible in the unaudited consolidated numbers for 2024. Based on accurate forecasts, Soft2Bet's consolidated EBITDA for 2024 is expected to double the value of the previous reporting period.
Product Innovation and Development
Soft2Bet's financial growth in 2024 was driven by improvements in its Motivational Engineering Gaming Application and the launch of AI-based tools that personalize game recommendations and promotions.
The 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% increase in average revenue per user (ARPU), and a 50% increase in deposit values. Additionally, the Soft2Bet platform facilitated rapid scaling and development, maintaining sustainable growth.
Industry Recognition
This relentless drive for innovation and expansion propelled Soft2Bet's commercial success and earned the company acclaim throughout the industry. In 2024, Soft2bet secured 38 award nominations—a 322% increase from 2023—and 10 accolades highlighting product innovation (a 233% increase).
Corporate Social Responsibility (CSR)
Soft2Bet's commitment to Corporate Social Responsibility (CSR) propelled nine initiatives this year, including blood donations, breast cancer awareness sessions, community cleanups, and village revitalization projects. The company donated over €821,000 to seven NGOs and supported 34 organizations and donors.
Industry Contribution
In September 2024, Soft2Bet Invest was recognized for "Outstanding Contribution to the Gaming Industry 2024" as a company that significantly impacts the industry through technical innovation, mentoring, and investment. Today, "Soft2Bet Invest," an iGaming Innovation Fund of €50 million for iGaming and casual gaming entrepreneurs, focuses on AI, UX analytics, and high-margin gaming solutions.
Soft2Bet
Soft2Bet is a leading provider of turnkey iGaming solutions that delivers high-quality products and services to online gambling operators. The company is known for its Motivational Engineering Gaming Application (MEGA), a casino and sports betting solution that has proven to enhance retention and engagement. Soft2Bet has implemented numerous successful iGaming brands and holds over 13 global licenses.
Source: GMB
