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Soft2Bet’s gamification features combine innovation with modern technology
Gamification is more than a “nice-to-have”, it drives substantial revenues and enables iGaming companies to keep up with technological advances, says Yoel Zuckerberg, Chief Product Officer at Soft2Bet.
Gamification is often mentioned as a feature that suppliers and operators should add to their product portfolio, rarely as a key component of their growth strategy that can drive substantial revenues to their bottom line.
Reasons behind this mode of thinking include:
- tech development and integration projects can be costly and time-consuming,
- companies may view their products and the revenues they generate as satisfactory, and
- not feel the need to call on their tech resources to implement these features.
At Soft2Bet gamification has been a priority from day one. We call it Motivational Engineering: this focus on engineering is not accidental – technology is one of the main drivers of iGaming growth and we ensure we harness its power for the benefit of our partners.
In addition, a strong argument can be made that the industry’s legacy platforms and lack of innovation are causing it to fall behind other mainstream online sectors.
Proof by numbers
So how does Soft2Bet’s Motivational Engineering benefit our operators?
Our Betinia brand operates in Denmark and Sweden, two of Europe’s most respected iGaming markets that demand strong legal and regulatory compliance from their stakeholders.
In the past 12 months, Betinia recorded a 65% increase in gross gaming revenues (GGR) when compared to non-gamified brands.
- The adoption rate of the features was 60%, showing strong topline engagement from players.
- On a more granular level, nearly half of the players who engaged with the features deposited larger amounts and deposit frequency was 30% higher.
- Players’ lifetime values were also up: average revenue per user (ARPU) was up 70% for 50% of those who engaged with the gamification features and the GGR they generated increased by more than 60% compared to non-participants.
Full integration
One of the reasons our Motivational Engineering technology is successful is because it is fully integrated throughout our Player Account Management system and delivers a comprehensive gamification solution that produces impressive GGR, LTV and ARPU returns for our partners.
This performance is the result of this seamless integration with our in-house platform, which includes our robust back office, dedicated games studio, payment gateway, and solutions tailored for both retail and online environments.
Changing mindsets for the digital age
We often hear that many operators and suppliers, including many of the best-known brands in our sector, rely on tech that is outdated and not up to the requirements of the new digital age.
This means there is a great deal of legacy technology operating in the industry and this materially impacts its ability to deliver the cutting edge solutions that directly impact your bottom line as an operator. So as an iGaming supplier to operators worldwide, how does Soft2Bet address these issues?
- Transformational: Soft2Bet turns challenges into opportunities through tech innovation. Our platform is based on agile and modular microservices such as a payment gateway, bonus engine, GSP gateway, enhanced affiliation and marketing tools, CRM tools, and, as a key advantage that is unique to Soft2Bet, our proprietary Motivational Engineering gamification engine, which greatly enhances gameplay and boosts revenues.
- Changing a conservative mindset: As an industry, online gambling is actually very conservative and many operators, suppliers, startups or consultants often make the point that this mindset needs to change.
- Outdated platforms: Many of the platforms’ frameworks are outdated, non-scalable or have serious tech issues such as being monolithic, full of old templates, manual bonusing tools or an inability to integrate new features quickly.
- Keeping up with trends: Technology plays such a key role in our sector that we must keep up with B2B and B2C trends, such as new channels, gameplay niches and combining mobile casual gaming with real money gaming.
- Rewarding journey: In many ways, gamification is an ongoing journey. It includes implementing a tech revolution that harnesses the capabilities of microservices, AI, web3, casual gaming or new channels. It can take time and resources to complete, but the rewards are significant.
Motivational Engineering in practice
The Soft2Bet products that feature our gamification tools include Bonus Crab, a real time claw machine with toy prizes that can be converted into bonuses and Betinia Stadiums, a highly localized gamification engine that links engaging sports with stadium building in different virtual cities.
City Builder type of game, our top solution, combines a Roman city builder with an online casino experience, while our latest feature BattleSlot is a next-level gamification engine that combines online slots with a card game and enables players to capture new territories by winning slots battles and receive bonuses for each win.
Stretch Network is thrilled to announce a crazy opportunity to engage and reactivate small- and medium-stakes poker players with the launch of our latest tournament.
Tournament Details:
Name: CRAZY?! [Overlay Edition]
Guaranteed Prize Pool: €11,111
Buy-in: €1
Re-entry: €1
Start Time: 17:00 (UTC+0)
Date: November 24, 2024
Table Format: 8-max
Max Players: 2000
Entry Phases: Starting from just €0.1
This event is guaranteed to have an overlay, providing exceptional value and sure to generate excitement within the community.
Collaborate to make CRAZY?! [Overlay Edition] an unforgettable experience for your players.
The post Stretch Network Crazy Promotion appeared first on European Gaming Industry News.
Bragg
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record revenue for the third quarter of 2024.
Summary of 3Q24 Financial and Operational Highlights
| Euros (millions)(1) | 3Q24 | 3Q23 | Change |
| Revenue | € 26.2 | € 22.6 | 15.9 % |
| Gross profit | € 14.0 | € 11.9 | 18.1 % |
| Gross profit margin | 53.5 % | 52.5 % | 99 bps |
| Adjusted EBITDA(2) | € 4.1 | € 3.8 | 7.1 % |
| Adjusted EBITDA margin | 15.6 % | 16.9 % | (129) bps |
| Operating Income (Loss) | € (0.4) | € (2.1) | (81.0) % |
(1) Bragg’s reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.12. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only.
(2) “Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below.
Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew 16% year-over-year, gross profit increased 18%, and Adjusted EBITDA rose 7%. In the U.S., strong third quarter revenue gains from content distribution helped drive a 40% global increase in proprietary online content revenue year-over-year.
“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.
“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.
“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”
Third Quarter 2024 and Recent Business Highlights
- Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in Pennsylvania and Ontario. The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches in New Jersey and Michigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
- Launched its newest games and RGS technology with FanDuel in New Jersey, adding to its existing distribution with the leading North American operator in Michigan, Pennsylvania, Connecticut and Ontario
- Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in New Jersey, following on from its second quarter launch in Pennsylvania, and an earlier launch in Ontario with the major global iGaming operator
- Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in the Netherlands, reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market
- Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in the Netherlands
- Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.
Additional September 30, 2024 Key Financial Metrics
- For the nine-month period ended September 30, 2024, Cash flow generated from operations was EUR 8.4 million (USD 9.4 million), compared to EUR 6.2 million (USD 6.9 million) for the nine-month period ended September 30, 2023.
- Cash and cash equivalents as of September 30, 2024 was EUR 11.6 million (USD 13.0 million) and net working capital, excluding deferred consideration, loans payable, and convertible debt, was EUR 11.3 million (USD 12.7 million)
Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.
After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.
Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”
“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevž Mazij, Chairman and CEO of Bragg.
Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of EUR 102.0-109.0 million (USD 114.2-122.1 million) and its full year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 17.0-20.7 million), noting that the Company is currently tracking to the lower end of guidance.
Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.
BetMGM, a leading sports betting and iGaming operator, announced an extension of its partnership with the Vegas Golden Knights through the 2026-27 season. As part of the agreement, BetMGM will continue as an Official Betting Partner of the Vegas Golden Knights with prominent signage on the Knight Tron and throughout T-Mobile Arena as well as co-branded content and exclusive promotions. The partnership also features multiple fan engagement opportunities including watch parties and Toshiba Plaza activations.
“BetMGM is proud to continue our partnership with the Vegas Golden Knights, giving us the opportunity to create memorable moments alongside one of the world’s most passionate hockey fan bases. Las Vegas is BetMGM’s hometown and an integral part of our DNA, so the Golden Knights are a natural fit for our brand.” – Matt Prevost – BetMGM, Chief Revenue Officer.
Throughout the season, BetMGM will host watch parties featuring team mascots at various MGM Resorts destinations. The operator also will plan activations in Toshiba Plaza during select Golden Knights home games where fans can begin the BetMGM mobile app registration process for the chance to win prizes.
“BetMGM is a long-standing partner with the Golden Knights and a brand synonymous with this great city,” said Vegas Golden Knights President and CEO Kerry Bubolz. “We look forward to continue working together on events and activations that we know entertain our fans.”
Lance Evans, SVP Sports and Sponsorships, MGM Resorts, said, “The Vegas Golden Knights play a core role in the Las Vegas sports and entertainment experience and it’s a privilege to welcome both local and visiting fans to our properties before, during and after games. Together with BetMGM, we look forward to co-hosting events that will allow guests to engage with their favorite teams in new and exciting ways.”
BetMGM users can take advantage of the robust offering of prop markets for Golden Knights games this season, frequent in-app odds boosts and the interactive same game parlay betting feature. New BetMGM customers who download the BetMGM app and verify at one of BetMGM’s nine retail sportsbooks within walking distance of T-Mobile Arena will receive a first bet offer of up to $250 paid back in bonus bets if their first bet loses (offer only available in Nevada; bonus bets are non-withdrawable and expire in seven days.) Through the recently launched single account and wallet app upgrade, BetMGM users who sign up in Nevada and reside in other BetMGM U.S. mobile markets can continue to wager upon returning home.
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