The Soft2Bet team is delighted to announce that it has been selected in two categories of the Vixio Regulatory Awards 2024. Being nominated for these valued awards (‘Commitment to Compliance by an Operator’ and ‘Legal Team of the Year’) is testament to the quality and work carried out by Soft2Bet legal and compliance teams, and further recognition of the expanded regulatory footprint the company has accomplished in recent years.
Combined with the strong growth of Soft2Bet’s turnkey solution partnerships in many of the world’s leading regulated markets, this commercial and regulatory expansion has enabled quick and efficient penetration into many new countries and geographies for the group’s B2B partners.
The unique capability to launch fast and seamlessly into diverse markets worldwide is made possible by Soft2Bet recently obtaining licenses in jurisdictions such as Greece, Sweden, Denmark, Italy, Romania, Ontario, Malta, and Mexico. Moreover, the group is in the process of applying for a license in the crucial U.S. iGaming state of New Jersey.
This B2B success is backed up by Soft2Bet’s ‘proof of concept’ business model that sees it launch its own B2C operations to determine the suitability of its products to consumers in specific markets. The strategy has proven to be highly fruitful for Soft2Bet as it enables it to understand the pressure points that consumer-facing iGaming brands might face. This market data and information gathering work enables Soft2Bet to target countries accurately and, having carried out much of the research work prior to launch, ensures its B2B partners get off to the best start possible in their target markets.
Proof of this success can be seen in the performance of Betinia, Soft2Bet’s leading iGaming brand in Scandinavia. Powered Motivational Engineering Gaming Application (MEGA), the leading gamification solution in iGaming, Betinia has recorded 65% year-on-year growth in net gaming revenues while ARPU ascended more than 70% in 2023.
This commercial growth has gone hand in hand with high levels of responsible gambling, as MEGA’s non-monetary gamification incentives encourage players to engage with the brand, thus increasing player screen time and activity fourfold to generate major revenue growth for both Soft2Bet and its B2B partners.
About this, David Yatom Hay, General Counsel for Soft2Bet, commented: “Getting shortlisted in two categories of the Vixio Regulatory Awards 2024 is a fantastic recognition of the work our compliance and legal teams have been carrying out in recent years. This is a testament to the professionalism and exceptional work of our legal and compliance teams, which has enabled us to secure licenses in numerous countries efficiently, while successfully launching both B2C and B2B operations. As we expand into new regions, we eagerly anticipate building stronger partnerships and entering new jurisdictions across the globe.”