Soft2Bet Doubles EBITDA in 2024 and reports strong financial results

Soft2Bet, a leading B2B turnkey solutions provider, unveiled its 2024 Growth Report today. The report highlights remarkable financial and compliance success, product innovation, industry recognition, and forward-thinking insights from key executives and iGaming experts. 

In 2024, the company reported doubled EBITDA year over year and a significant increase in consolidated group revenue. These milestones reflect Soft2Bet's expansion and strengthened presence in regulated markets, as well as industry-leading product innovation and credibility on a global scale.

Market Expansion

In 2024, Soft2Bet expanded its global presence by securing licenses in several key regulated markets. The company entered Ontario and Mexico with B2C licences and expanded in Sweden with three new B2C licenses. The company also obtained B2B licenses in Greece and Romania and additional licences in Sweden. Looking ahead, Soft2Bet made significant headway in entering the U.S. market, focusing on New Jersey, aligning with its goal to expand in North America’s rapidly growing iGaming sector. Additionally, a planned expansion into Spain will further cement its European leadership, particularly in online sports betting and casino gaming.

Also, in 2024, Soft2Bet finalised two major turnkey deals in Mexico and Nigeria while also securing our first MEGA partnership with
a leading European operator.

"At Soft2Bet, we have redefined traditional gamification through our leading MEGA solution driving player engagement. This cutting-edge strategy has significantly impacted our brand's performance, received industry recognition, driven sustainable revenue growth, and showcased stronger ROI while successfully expanding into new markets,” stated Uri Poliavich, Founder and CEO of Soft2Bet.

Financial Performance

The principal activities of the Group remained unchanged from prior years. Soft2bet retained its trajectory to capitalise on what was established in previous periods, primarily the continuous expansion of its licensed footprint across new markets within Europe and beyond. At the same time, its innovative B2B product offering demonstrated once again its superior quality and effectiveness across the industry.  All this is visible in the unaudited consolidated numbers for 2024. Based on accurate forecasts, Soft2Bet 2024 consolidated EBITDA is projected to double the amount of the prior reporting period.

Product Innovation and Development

Soft2Bet's financial growth in 2024 was driven by enhancements to its Motivational Engineering Gaming Application and the launch of AI-driven tools that personalise game recommendations and promotions. MEGA became available as a standalone solution, allowing operators to implement gamification and advanced retention tools. This resulted in a 65% increase in Net Gaming Revenue (NGR), a 45% rise in Average Revenue Per User (ARPU), and a 50% boost in deposit amounts. Additionally, Soft2Bet's platform facilitated rapid scaling and development while maintaining sustainable growth.

Industry Recognition

This relentless drive for innovation and expansion propelled Soft2Bet’s commercial success and earned the company industry-wide acclaim. In 2024, Soft2bet secured 38 award nominations—a 322% increase from 2023—and 10 accolades highlighting product innovation (a 233% increase).

Corporate Social Responsibility (CSR)

Soft2Bet's commitment to Corporate Social Responsibility (CSR) drove nine initiatives this year, including blood drives, breast cancer awareness sessions, community cleanups, and village revitalisation projects. The company donated over €821,000 to seven NGOs and supported 34 organisations and donors.

Industry Contribution

In September 2024, Soft2Bet Invest was recognised for “Outstanding Contribution to the Gaming Industry 2024” as a company that significantly impacts the industry through technical innovation, mentoring and investment. Today, “Soft2Bet Invest”, a €50 million iGaming Innovation Fund for iGaming and casual gaming entrepreneurs, focusing on AI, UX analytics, and high-margin gaming solutions.

To sign up to review the 2024 Growth Report, please visit http://soft2bet.com/report