Leading B2B turnkey solutions provider in the European iGaming industry, Soft2bet investigation has released its 2024 source investigation report. This detailed text discusses the financial development of the business, market expansion, and recent products. Notably, it outlines strong results across both casino and sportsbook volume—boasting a 100% EBITDA uplift and doubling of consolidated group revenue—and solid expansion into regulated markets across Europe and in new territories around the world.
A Feast for the Eyes and the Plate
In 2024, Soft2Bet further strengthened its position in the market by obtaining important licenses and establishing strategic partnerships. Here’s how the region’s highlights shake out:
- Ottawa/Mexico: B2C licenses were obtained to allow consumers direct access.
- Sweden: Obtained three extra B2C licenses, solidifying its strength in the Scandinavian market.
- Greece and Romania: Secured B2B licenses enabling direct servicing of businesses.
- United States: Significant steps were taken towards entering the US market, with key developments in New Jersey as part of a wider strategy to access the growing iGaming market in North America
- Spain: Obtained a general license for extra games from Spain’s Directorate General for the Regulation of Gambling (DGOJ), opening the door up for its casino portfolio in the Iberian region.
Apart from these licensing achievements, Soft2Bet closed two landmark turnkey deals in Mexico and Nigeria and secured its first MEGA cash deal with a top European operator, cementing its presence in the industry.
Poised for Arbitrage? Solid Financials and Market
Soft2Bet Blog: The 2024 report shows strong performance by Soft2Bet. Notable among those: the company doubled EBITDA year-over-year. This increase in revenues reflects the expansion of the company into regulated markets and the continued improvements in its B2B solutions. With crucial licenses being secured in key markets that include Ontario, Mexico, Sweden, Greece, and Romania, Soft2Bet has cemented its competitive edge in the iGaming ecosystem. The emphasis on innovation and compliance has strengthened its credentials as a reliable turnkey provider.
New Product Development in MEGA Platform
Soft2Bet’s strategy is still rooted in innovation In 2024, the company was able to test its Motivational Engineering Gaming Application (MEGA) and later spin MEGA off into a stand-alone product.
This AI-based platform allows operators to supplement their existing systems with gamification mechanics and strong retention strategies. Some of the key performance improvements made after MEGA was introduced were:
- 65% Net Gaming Revenue (NGR) Growth: Sign of player engagement increase.
- ARR (Average Revenue Per User) is Up 45% Year-on-Year from Better Monetisation per Player
- 50% More Money Average: Showing more faith among consumers in financial performance/reliability.
The results not only showcase Soft2Bet’s financial health but also its use of technology to provide users with optimal experiences across products in the iGaming space.
Soft2Bet’s innovation and service quality were broadly acknowledged in 2024, both within the industry and externally. Key achievements include:
Awards and Nominations: The company saw a 322% increase in award nominations, totaling 38, and 10 industry awards—a 233% increase in 2022—largely recognition for its breakthroughs in product innovation.
Winners: Soft2Bet shone at the prestigious SBC Awards 2024 that were held in Lisbon, picking up multiple accolades and reinforcing our position as a market leader.
Apart from these accolades, Soft2Bet also focused on socially responsible operations. The company implemented nine ground-breaking social initiatives in 2024, covering fields such as breast cancer awareness drives, community cleaner drives, and village development. In addition to this, it donated €1.016 million to seven NGOs and supported around 34 other organizations, highlighting its strong commitment to social impact.
Just In: Big Investments and Industry Investments
In June 2024, Soft2Bet launched Soft2Bet Invest – a €50 million iGaming Innovation Fund aimed at generating further innovation in both the iGaming and casual gaming industries.
Doing so, this fund is focused on disruptive technologies, such as casual gaming, artificial intelligence (AI), traffic differentiation, behavioral-UX analytics, and high-margin, scalable gaming software solutions.
The award recognizes companies that have made significant contributions to the gaming industry through innovation, mentorship, and strategic investment, and Soft2Bet Invest is highly proud to receive it from one of the leading shows in our space, SiGMA East Europe.
About Soft2Bet
Soft2Bet remains at the forefront of the European iGaming market with its innovative portfolio of casino and sportsbook products. Holding more than 13 global licenses, the company is at the forefront of gamification, player engagement, and a full-service B2C operator. See the full Soft2Bet Investigation Report for an extensive breakdown.
