Soft2Bet announces 2023 financial results
Company’s strong growth driven by Motivational Engineering Gamification Application (MEGA), sports betting, and geographic expansion.
Press release.- Soft2Bet 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 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 licences 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.”
See also: Soft2Bet wins “In-House Innovation of the Year” at the EGR Nordics Awards 2024
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.
