Soft2Bet reports 46% revenue rise for 2023 thanks to market expansion and gamification
B2B and B2C firm also notes a 207% leap in EBITDA as 2024 plans centre around global expansion
Soft2Bet has reported a 46% year-on-year (YoY) increase in group revenue for full-year 2023, with the company championing the launch of its MEGA gamification product as a core growth driver.
The B2B and B2C firm said 2023 was the group’s strongest year to date, as expansion into regulated markets also helped push financial KPIs on an upwards trajectory.
The company added that it had recorded a 207% rise in EBITDA compared to 2022.
Breaking down operations by division, Soft2Bet announced that the launch of its Motivational Engineering Gamification Application (MEGA) gamification tool had corresponded to more than a 60% jump in GGR.
The addition of the gamification tool also resulted in an increase of 70% for average revenue per user for Soft2Bet’s B2B partners.
The firm noted that its “primary focus” would be on continuing to improve the MEGA product, with plans to integrate AI and “other new technologies” into the stack.
In terms of sports betting supply operations, revenue soared 300% as Soft2Bet pointed to expansion into new markets such as Sweden, Greece, Romania and Italy.
Looking ahead to 2024, Soft2Bet said its focus is on global expansion, starting with a launch in the US via New Jersey.
Additional market launches across North America in Ontario, Canada and Mexico, as well as a Portugal launch in Europe, are also on the docket.
Touching on the financial performance, Soft2Bet CEO Uri Poliavich said: “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 gamechanging solutions for our partners this year,” he added.