B2B casino and sportsbook platform provider Soft2Bet has released metrics demonstrating the company’s growth in 2023. In a press release, the supplier said that its revenues grew steadily in the past year, as the company’s focus on expansion in regulated markets and gamified products enabled it to deliver its strongest year to date.
For 2023, the company recorded an audited growth of 46% in gross revenue across its B2B and B2C operational areas. This corresponds to a 207% increase in EBITDA from the prior reporting period, the company noted.
These results were driven by several factors, including the introduction of Soft2Bet’s gamification solutions known as Motivational Engineering Gamification Application (MEGA), which the provider says has proven to significantly increase Gross Gaming Revenue (GGR) by more than 60%, and player engagement and average revenue per user (ARPU) by 70% for the company’s partners.
Other contributing factors include strong growth in the company’s sports betting solutions, which saw a revenue increase of 300% in 2023, and expansion into a number of regulated markets, with new licenses in Sweden, Greece, Romania, and Italy.
Uri Poliavich, CEO and founder of Soft2Bet, commented: “With our MEGA solutions and ambitious expansion strategy, 2023 was an incredible year for our family at Soft2Bet. I have no doubt we’ll continue to see strong growth in 2024 as we innovate our gamification engine. We are already developing partnerships with new and old friends, expanding into North America, and delivering more game-changing solutions for our partners this year.”
In 2024, Soft2Bet says that it will focus on further expanding its presence in Europe and North America. The company looks forward to entering the US market in New Jersey, as well as expanding into Portugal, Ontario, Canada, and Mexico over the course of the year.
Soft2Bet also asserts that its primary focus remains on enhancing its MEGA technology. “Powered by a robust tech stack, this solution consistently boosts engagement, volumes, and revenues by providing unparalleled personalization and tailored user experiences,” the company says. “Innovation remains at the core of the company’s philosophy, and going forward it will look to integrate AI and other new technologies to enhance and inform new features.”
Earlier this year, speaking in an exclusive interview with Yogonet, Ohad Straschnov, Senior Compliance Director of Soft2Bet, said: “Our licenses in Greece, Romania, Italy, Sweden, Denmark and Malta enable us to launch regulated operators quickly; and they can go live knowing that S2B’s platforms, products and every functionality, from marketing and CRM to player safety, operate in compliance with all local regulations.
“It is hard to overstate the importance of this setup: when an operator is found by their local regulator to have operated in a way that is not compliant with national laws, the most likely outcome is a financial penalty, which sometimes can be significant.”
“That is why we take compliance very seriously and are happy to showcase our capacities as a B2C operator and a B2B provider focused on regulatory compliance. It enables us to offer speed to market and a range of B2C and B2B tools that create business opportunities for us and our partners.”
