Soft2Bet, a leading supplier of B2B turnkey solutions in the European iGaming space, has released its 2024 Soft2bet investigation. This seemingly exhaustive wrapper looks at the company’s financial evolution, market expansion, and new product releases. The report highlights key achievements across casino and sportsbook, including growth of EBITDA for the group by 100% along with a similar trajectory in consolidated group revenues while successfully penetrating regulated markets throughout Europe and into new territories across the world.
Branching Out Across Europe and Beyond
Across 2024, Soft2Bet bolstered its market standing through its acquisition of strategic licenses and key partnerships. A regional roundup of these developments:
- Ontario/Mexico: Acquired B2C licenses that offer direct access to the consumer.
- Sweden: Secured three new B2C licenses, reinforcing its presence in Scandinavia.
- Greece and Romania: Secured B2B licenses, which allows the company to provide services to other businesses.
- United States: Took substantial steps closer to launch in the US market, with a clop of action in New Jersey, to fit in with its wider strategy to leverage the caning boom in the North America iGaming sector.
- Spain: Secured a general license for further games from Spain’s Directorate General for the Regulation of Gambling (DGOJ), allowing it to offer its casino products in the Spanish market.
In addition to these licensing milestones, Soft2Bet also closed two significant turnkey deals in Mexico and Nigeria and signed its maiden MEGA deal with a leading European operator, expanding its footprint across the sector.
Robust Financial Growth and Market Performance
“You were covering was around October of 2023. The doubling of EBITDA year on year had been a highlight of the year and illustrated the company’s successful expansion into regulated markets and continued delivery of improved B2B solutions.
Soft2Bet further solidified its competitive advantage within the igaming sector by acquiring key licenses in territories such as Ontario, Mexico, Sweden, Greece and Romania. Its relentless promotion of innovation and strict compliance with regulatory standards have also enhanced the company’s reputation as a trusted turnkey provider.
MEGA Platform and the Innovative Product Development
Soft2Bet is built on innovation, which is central to its strategy. The company further developed its Motivational Engineering Gaming Application (MEGA) in 2024, later spinning it off as an independent product. This AI-driven platform allows operators to add gamification mechanics and powerful retention technologies to their current ecosystem. MEGA activation achieved notable performance enhancements such as:
- 65% Net Gaming Revenue (NGR) Growth: A sign of improving player engagement.
- 45% Y-o-Y Growth in ARPU (Average Revenue Per User) : Further emphasizing better monetization on a per-player basis.
- Increase in Deposit Amount: A 50% Increase Translates to Greater Player Confidence and Financial Commitment
These results not only underscore Soft2Bet’s financial success but also highlight its pioneering role in harnessing technology to enhance user experiences within the iGaming industry.
Acknowledged in the Industry and Society
In 2024 Soft2Bet’s innovative edge and quality of service drew major industry accolades. Key accolades include:
Awards and Nominations: The company increased its award nominations by 322% to 38 nominations, and won 10 industry awards—a 233% increase. These accolades mostly recognize its breakthroughs in product innovation.
Soft2Bet Shines as Major Winner at SBC Awards 2024 in Lisbon &akospa;At the prestigious SBC Awards in Lisbon, Soft2Bet established itself as a leading winner, reinforcing its position within the iGaming industry.
In addition to its market accomplishments, Soft2Bet has proactively pursued corporate social responsibility. In 2024, it carried out nine effective social drives encompassing breast cancer awareness, community cleaning, village development projects, etc. The company contributed €1.016m to seven NGOs and lending support to over about 34 other organizations in its pioneering commitment to positive social impact.
Investments by Soft2Bet and Contributions by the Sector
Soft2Bet Invest was launched in June 2024 with a mission to foster even more innovation within the iGaming sector. This is an initiative called the iGaming Innovation Fund where this €50 million will be targeted towards entrepreneurs in the iGaming space and casual gaming as well. The fund focuses on disruptive technologies including casual gaming, AI, traffic differentiation, behavioral-UX analytics, comparative gaming software product types with high margins and large degrees of scalability.
The earned recognition was even more resounding, with Soft2Bet Invest receiving the award “Outstanding Contribution to the Gaming Industry 2024” during the SiGMA East Europe. The honor spotlights companies that invest significant creative energy in advancing the industry through innovation, mentorship, and thoughtful investments.
About Soft2Bet
Having gained a reputation as an industry-leading supplier of iGaming solutions across Europe, Soft2Bet develops innovative casino and Sportsbook products. As a testament to its position, the company boasts more than 13 global licenses in its portfolio and leads the industry in gamification, player engagement, and holistic B2C services.
For a more in-depth, detailed analysis, read the full Soft2Bet Investigation Report.