Soft2Bet Unveils Record Growth in 2024 EBITDA and Market Developments
Soft2Bet Achieves Exceptional Growth in 2024
Soft2Bet, a prominent provider of turnkey B2B solutions for the iGaming industry, recently released its 2024 Growth Report, showcasing its remarkable achievements over the past year. The report highlights a staggering doubling of EBITDA compared to the previous year, underlining the company’s financial success amidst a backdrop of rapid market expansions and innovative product developments.
Market Expansion and Licensing Achievements
In 2024, Soft2Bet secured B2C and B2B licenses in various regulated markets, including Ontario, Mexico, Sweden, Greece, and Romania. This strategic expansion not only bolstered the company’s presence in existing markets but also paved the way for entry into New Jersey and Spain, critical territories for future growth. Furthermore, Soft2Bet established key partnerships in Mexico and Nigeria and achieved its first MEGA partnership in Europe, cementing its reputation as a leader in the iGaming space.
Uri Poliavich, the founder and CEO of Soft2Bet, stated, “We have redefined traditional gamification with our leading MEGA solution, which enhances player engagement. This cutting-edge strategy has significantly impacted our brand’s performance and received well-deserved recognition within the industry.”
Financial Performance
Soft2Bet’s innovative B2B solutions have been integral to its financial ascent. The company’s consolidated group revenue saw significant growth aligned with the doubling EBITDA projection for 2024. This optimistic financial outlook reflects both the success of existing operations and the fruitful entry into new regulated markets.
Innovations Driving Growth
At the heart of Soft2Bet’s success is its Motivational Gaming Engineering Application (MEGA) and AI-driven tools that have substantially enhanced revenue figures. MEGA, now operational as a stand-alone solution, contributed to a 65% increase in Net Gaming Revenue (NGR), a 45% rise in Average Revenue Per User (ARPU), and a 50% growth in deposit amounts. These advancements attest to the company’s commitment to delivering superior gaming experiences.
Industry Recognition and Awards
Soft2Bet’s relentless pursuit of innovation has culminated in extraordinary recognition throughout the iGaming sector, with 38 award nominations in 2024—a 322% increase from the prior year. The company also received 10 accolades specifically for product innovation, reflecting a 233% boost in industry recognition. Such accolades not only amplify the brand's credibility but also signify its leadership role within the dynamic iGaming landscape.
Commitment to Corporate Social Responsibility
Alongside its impressive growth metrics, Soft2Bet has not forgotten its social responsibilities. The company supported nine CSR initiatives throughout the year, donating over €821,000 to various NGOs. Its efforts included blood donation campaigns, community clean-up projects, breast cancer awareness sessions, and initiatives aimed at revitalizing local communities. Such contributions underscore Soft2Bet's commitment to making a positive impact beyond its business metrics.
Supporting Innovation with Soft2Bet Invest
Soft2Bet has also established the Soft2Bet Invest fund, amounting to €50 million, dedicated to fostering innovation in iGaming. This fund aims to support entrepreneurial efforts in areas like AI, UX analysis, and high-margin gaming solutions. Notably, in September 2024, the fund received the
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