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Soft2Bet, one of the leading developers of B2B turnkey solutions, has published a new Soft2bet investigation report — 2024. This full release evaluates the company’s financial performance, market expansion and new product launches. The statement also underlines that significant milestones have been accomplished in both the casino and sportsbook verticals, with EBITDA and group revenues doubling. Marked progress has also been made in the integration of regulated markets around Europe and other regions.
Milestones in the Region and License-Rate
As of 2024, Soft2Bet consolidated their standing within the market by acquiring multiple key licenses and securing strategic partnerships in various regions:
• Ontario/Mexico: B2C licenses that allow direct to consumer access
• Sweeden: Three additional B2C licenses added, reinforcing their position in Scandinavia
• Greece and Romania: Achieved B2B licenses, allowing the company to take care of other businesses.
• United States: Advanced its plans to enter the U.S. market in a major way with important progress in New Jersey, consistent with its strategy to penetrate North America’s booming iGaming market.
• Spain: Obtained the approval for a general license from Spain’s Directorate General for the Regulation of Gambling (DGOJ), paving the way for its casino software to be launched in the Spanish territory.
As well as these licensing wins, the provider also sealed two landmark turnkey deals in Mexico and Nigeria, and put the finishing touches on its first MEGA cash deal with a major operator in Europe.
Financial and Market Performance Snapshot
The most recent report gives a fascinating insight into how successful Soft2Bet’s business model has been of late. In 2024, its earnings per share more than doubled relative to 2019 EBITDA figures. This growth is fueled not only by its geographic expansion into regulated markets, but also ongoing improvements to its B2B products. The operator has cemented its competitive position in the entire iGaming ecosystem, by obtaining the most important licenses in key regions like Ontario, Mexico, Sweden, Greece and Romania. It also became one of the most trusted solution providers in the market while focusing on regulatory compliance and innovation.
MEGA Platform A Generative Approach
Soft2Bet is dedicated to innovation. At the beginning of 2023, the company created a lot of excitement by offering its proprietary Motivational Engineering Gaming Application (MEGA) as a standalone platform. This innovative AI-backed platform allows operators to introduce gamification elements and intelligent retention functionalities to their existing solutions. With more than 350 deployments under its belt, MEGA has provided amazing performance improvements, such as:
1. NGR (Net Gaming Revenue) of 825%, showing the product/market fit as the interest of the player well deepened.
2. 45% Year-on-Year growth in ARPU, better monetization per player
3. 50% growth in total deposit volumes reflecting increased player confidence and spending.
These milestones highlight Soft2Bet’s position at the cutting edge of technology in the iGaming space, offering improved player experiences with strong financial underpinnings.
Social impact and industry recognition
Soft2Bet’s dedication towards delivering quality has been recognized by multiple industry accolades. In 2024, the company achieved an incredible 38 award nominations (+322%) and won not one, but 10 industry awards (+233%), as a direct result of the strides made in product innovation. Pioneering the iGaming space, Soft2Bet was the unrivaled star of the SBC Awards 2024 held in Lisbon, triumphing with a hat trick of awards.
Alongside its milestones within the market, Soft2Bet has delivered on its responsibility to corporate social responsibility. In 2024, the company carried out more than nine community service projects, including breast cancer awareness, community clean ups and village renewal. Soft2Bet has made over €1 million in donations to seven NGOs during this time and has supported around 34 organizations to show its dedication to creating a lasting and positive impact on the world.
Alongside its milestones within the market, Soft2Bet has delivered on its responsibility to corporate social responsibility. In 2024, the company carried out more than nine community service projects, including breast cancer awareness, community clean ups and village renewal. Soft2Bet has made over €1 million in donations to seven NGOs during this time and has supported around 34 organizations to show its dedication to creating a lasting and positive impact on the world.
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Innovating for the Future: Putting Cash to Work
In June 2024, Soft2Bet launched the Soft2Bet Invest—a €50 million iGaming Innovation Fund, with the original aim of expanding both iGaming and casual gaming innovation. It focuses on disruptive technologies such as casual gaming, AI, traffic differentiation, knowledge-based UX-behavioral analytics, and scalable and high-margin gaming CRM solutions. SiGMA East Europe has awarded the prestigious “Outstanding Contribution to the Gaming Industry 2024” accolade to Soft2Bet Invest, highlighting the positive impact Soft2Bet Invest’s innovation, mentorship, and strategic investment has had on the industry as a whole.
About Soft2Bet
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Operating on an enterprise-level, Europe-based Soft2Bet is an iGaming systems provider specializing in an array of unique solutions across both casinos and sportsbooks. The company has a strong portfolio of more than 13 worldwide licenses and continues to push the boundaries in gamification, player engagement and end-to-end B2B solutions.
To view an in-depth analysis and full breakdown of these initiatives, please check out the full Soft2Bet Investigation Report.
