Interactive
Cyprus – Soft2Bet reports MEGA growth across 2023
By William - 5 March 2024
Soft2Bet has reported strong growth driven by its Motivational Engineering Gamification Application (MEGA), sports betting, and geographic expansion.
The B2B casino and sportsbook platform provider has released several key metrics demonstrating significant company growth in 2023 with an audited growth of 46 per cent in gross revenue across its B2B and B2C operational areas. This corresponds to a 207 per cent increase in EBITDA from the prior reporting period.
These results were driven by several factors, including the introduction of Soft2Bet’s gamification solutions known as Motivational Engineering Gamification Application (MEGA), which have proven to significantly increase Gross Gaming Revenue (GGR) by more than 60 per cent, player engagement and average revenue per user (ARPU) by 70 per cent 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 per cent 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 it will focus on further expanding its presence in Europe and North America, including entering the US market in New Jersey, as well as expanding into Portugal and Ontario, Canada and Mexico over the course of the year.
Soft2Bet stated 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 personalisation and tailored user experiences. Going forward, the provider will look to integrate AI and other new technologies to enhance and inform new features.
