Soft2Bet Announces 2023 Financial Results

Company's strong growth driven by Motivational Engineering Gamification Application (MEGA), sports betting, and geographic expansion

NEW YORK, Feb. 29, 2024 /PRNewswire/ -- Soft2Bet, a leading B2B casino and sportsbook platform provider, today released several key metrics demonstrating impressive company growth in 2023. Soft2Bet's revenues grew steadily in 2023, as the company's focus on expansion in regulated markets and highly 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.

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%, 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 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 and Ontario, Canada and Mexico over the course of the year.

Soft2Bet's 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. 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. 

About Soft2Bet
Soft2Betis a casino and sportsbook operator and platform provider, offering an extensive iGaming product suite for operators in regulated markets. Its unique proprietary gamification engine enhances player engagement in both casino and sportsbook sectors. Today, Soft2Bet has developed and deployed many iGaming brands and is a holder of ten licenses. Learn more at soft2bet.com

CONTACT: Dakota Orlando, [email protected], 718.608.4260

SOURCE Soft2Bet