Soft2Bet Announces Remarkable Growth in 2024 with Focus on EBITDA and Industry Innovations

Soft2Bet Growth Report 2024

Soft2Bet, a frontrunner in B2B iGaming solutions, has recently released its highly anticipated 2024 growth report, unveiling impressive financial metrics, significant market expansions, and innovative product developments. The report showcased a staggering doubling of EBITDA year-over-year, highlighting the company’s robust growth trajectory as it successfully navigates regulated markets and industry dynamics.

Key Highlights

In 2024, Soft2Bet substantially expanded its footprint by obtaining new B2C and B2B licenses in jurisdictions including Ontario, Mexico, Sweden, Greece, and Romania. This expansion not only enhances its operational capabilities but also positions the company as a strong contender in the rapidly evolving iGaming sector. In line with this trajectory, notable partnerships were solidified in Mexico and Nigeria, marking strategic moves to bolster market presence. Additionally, Soft2Bet established its first MEGA partnership in Europe, laying the groundwork for future expansions into regions like New Jersey and Spain, aimed at reinforcing its lead in iGaming.

Uri Poliavich, founder and CEO of Soft2Bet, expressed, "We have redefined traditional gamification through our MEGA solution, which significantly enhances player engagement. This innovative strategy has driven considerable brand performance, earning industry recognition, ensuring sustainable revenue growth, and showcasing robust ROI while effectively penetrating new markets."

Financial Performance

Soft2Bet’s success in new market expansions was complemented by its innovative B2B solutions, which propelled a projected doubling of EBITDA for 2024 compared to previous periods. This growth reflects the company’s commitment to maintaining a strong competitive edge through cutting-edge practices and offerings.

Innovation and Product Development

Innovations in the MEGA application, known for its motivational gaming engineering, played a pivotal role in the financial upsurge that Soft2Bet experienced in 2024. As a standalone solution, MEGA has shown impressive results, including a 65% increase in net gaming revenue (NGR), a 45% boost in average revenue per user (ARPU), and a 50% rise in deposit amounts. These figures underline the effectiveness of MEGA in driving user engagement and profitability.

Industry Recognition

Soft2Bet's continuous innovation and market expansions have culminated in significant industry accolades. In 2024, the company received 38 award nominations, a remarkable 322% increase from previous years, alongside ten product innovation awards, reflecting a 233% growth. This recognition solidifies Soft2Bet’s reputation as a leader in the iGaming field, underscoring the company’s dedication to excellence.

Corporate Social Responsibility (CSR)

Beyond its commercial success, Soft2Bet remains committed to social responsibility. In 2024, the company supported nine initiatives, contributing over €821,000 to seven NGOs, while collaborating on diverse projects, such as blood drives, community clean-ups, breast cancer awareness campaigns, and village revitalization efforts. This dedication exemplifies the company's multifaceted approach to growth, integrating profit with purpose.

Contributions to the Gaming Sector

Soft2Bet Invest, a €50 million innovation fund, aims to support entrepreneurs in the iGaming and casual gaming sectors. The fund focuses on AI initiatives, UX analysis, and high-margin gaming solutions. In September 2024, Soft2Bet Invest was honored with the award for Outstanding Contribution to the Gaming Industry, recognizing its impactful role in technological innovation, mentorship, and investment.

About Soft2Bet

Established as a key player in the iGaming sector, Soft2Bet provides comprehensive turnkey solutions, delivering high-quality products and services to online gaming operators. The company stands out for its MEGA motivational gaming application, a proven solution for player retention and engagement, having successfully launched numerous iGaming brands while holding over 13 global licenses.

In summary, Soft2Bet's 2024 growth report not only highlights its financial achievements but also underscores its commitment to innovation and social responsibility within the competitive realm of iGaming.