Read about the European market expansion and state-of-the-art innovation across sportsbook brands of Soft2Bet. Below are the key highlights.
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Uching on the major highlights of the financial growth, market expansion, and product innovation of one of the top-notch providers of turnkey B2B solutions within the European iGaming marketplace, Soft2Bet, presents its long-due Soft2Bet Research Report 2024, which provides an incredibly incisive analysis. The in-depth study speaks to the strategic attainments of the company in the sphere of the sportsbook vertical as it doubled its EBITDA and raised the consolidated revenue of the group while also managing to expand into the regulated markets in Europe and beyond.
Rolling Out to the Markets in Europe and Beyond
In 2024, the company strengthened its position considerably in regulated markets through strategic licensing and partnerships:
- During the period, B2C licenses for direct consumer engagement were secured to target Ontario and Mexico.
- Three additional B2C licenses were acquired to enter the Scandinavian market in Sweden.
- B2B licenses for service delivery to other businesses within Greece and Romania have also now been secured.
- United States: Made substantial in-roads into the US market, with New Jersey as the focal point for its strategic goal of expanding into the rapidly developing iGaming marketplace in North America.
- Spain: Attained a general license for other games from the DGOJ, allowing the enterprise to deliver its products to the Spanish audience.
Two key turnkey deals were previously fine-tuned in Mexico and Nigeria by Soft2Bet. It invigorated its footprint in the sector with its first MEGA partnership alongside a leading European operator.
Financial Growth and Market Performance
The upward trajectory of the company’s financials remains on a steadfast course. Come the year 2024, the achievement to scale is realized with a doubling of the EBITDA of Soft2Bet in comparison with what it was the prior year. Such massive growth serves to paint a picture of strategic expansion for the company into regulated markets, coupled with continuously improving the offerings of its products under B2B.
Soft2Bet innovation commitment has taken a new stage of evolution of its Motivational Engineering Gaming Application (MEGA) into a standalone solution in 2024. Using this platform, AI-personalized tools offer operators an easy path towards injecting gamification and highly engineered retention strategies as an integral part of their offerings.
Such would be the material impact of the implementation of MEGA:
- An increase in Net Gaming Revenue by 65%—demonstrating higher player engagement and activity; and
- Average Revenue Per User increased by 45%—which translates to better monetization per player.
- 50% increase in deposit amounts: demonstrating increased player confidence and investment.
These advancements have not only driven financial growth but have also positioned it as one of the companies leading in harnessing technology to create and enhance experiences for users. The success that has been realized by the MEGA platform underscores the company’s commitment to coming up with innovative solutions that cater to the ever-growing demands from the iGaming industry.
Soft2Bet Research: Industry Recognition and Impact
In 2024 Soft2Bet’s commitment to excellence and innovation, along with major industry recognition, reaffirms the role of a responsible corporate entity with the following:
Award Nominations and Accolades
The company saw an outstanding increase of 322% in award nominations—up to 38—and 10 industry accolades, some 233% up on the previous year. Specifically, products were the major drivers in these awards for the improvements at Soft2Bet. SBC Awards 2024: Highlights of the winners at the well-esteemed SBC Awards held in Lisbon prove, beyond doubt, the influential footprints Soft2Bet stamps in the iGaming sphere.
Corporate Social Responsibility (CSR) Initiatives
In other areas regarding corporate social responsibility, Soft2Bet investigation. Has implemented nine effective community activities to launch by the year 2024.