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Soft2Bet Takes Centre Stage at Forbes Future of Fintech Summit, Redefining Engagement with Motivational Engineering Technology

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Soft2Bet, the leading B2B casino and sportsbook platform provider, showcased its trailblazing Motivational Engineering Gaming Application (MEGA) at the Forbes Future of Fintech Summit in Cyprus on December 7-8. The summit served as a pivotal platform for Soft2Bet to highlight the convergence of iGaming and Fintech, demonstrating transformative strategies set to redefine user experiences across industries.

Uri Poliavich, Soft2Bet’s founder and CEO, headlined a fireside chat alongside Forbes fintech writer Meaghan Johnson. They discussed the potential of Soft2Bet’s MEGA and how it could revolutionise engagement in iGaming, as well as the Fintech and financial services space.

Poliavich emphasised the striking parallels between personalized features in iGaming and Fintech, advocating for seamless integration of engaging elements. “Whether in iGaming or Fintech, mobile apps have the same personalization features. MEGA aims to capture more of users’ screen time, ensuring an engaging and personalized experience,” he explained.

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Forbes’s Johnson echoed this sentiment, highlighting the untapped potential for fintech to adopt similarly engaging and interactive elements. “Quite frankly, we [the fintech and digital banking industry] do not do gamification well. There are few and far examples of who actually has launched successful gamification, whether it is for sales of education. It has been interesting to hear Uri’s insights on how and why Soft2Bet can help fintechs elevate their gamification,” Johnson said.

Additionally, during a panel discussion titled “The Future of Fintech in the Game Industry,” Gilad Naim, COO of Soft2Bet, underscored the crucial role of Fintech in gaming interactions. Naim emphasised the significance of streamlined KYC processes and highlighted Soft2Bet’s MEGA innovations as an additional layer of entertainment for players.

Naim explained, “With Motivational Engineering, we have created an additional layer of entertainment for players. The increases in engagement, revenues, and deposits are proof that players will engage if you provide them with the products.”

Soft2Bet’s strategic outlook involves leveraging MEGA to seamlessly integrate gamification strategies into the fintech realm. The company plans to launch a gamified wallet, aiming to capture more user screentime and attention.

Soft2Bet’s participation at the Forbes Future of Fintech Summit signifies its commitment to spearheading transformative experiences in both iGaming and fintech, setting new benchmarks for engagement and innovation. This event was truly an exciting moment for the tech community in Cyprus.

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Industry News

Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising

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The Dutch mental health service is calling for a total ban on online gambling advertisements in the Netherlands.

Although a ban on untargeted gambling advertisements and a ban on the use of role models has been in effect since 2023, a recent research by KRO-NCRV’s Pointer shows that (illegal) gambling companies and sports tipster platforms are still enticing young people via social media such as TikTok and Snapchat.

By using influencers and terms like “free money”, they try to attract a young audience and thus lower the threshold to start gambling. This concerns both legal online casinos and online casinos that do not have a license in the Netherlands. The Gaming Authority has started an investigation based on Pointer’s findings.

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Pointer’s research shows that part of the gambling industry deliberately targets young people who are often susceptible to promises such as “fast money” and the influence of role models. Ruth Peetoom, chair of the Dutch mental health service, compares this approach to that of the tobacco industry, where similar marketing strategies were used to get young people to smoke.

Despite the existing advertising ban, gambling companies continue to explore the boundaries of the law, according to Peetoom. The Dutch mental health and addiction care associations in the Netherlands therefore push for a total ban on online gambling advertising and stricter rules for the duty of care of gambling providers.

With the call for a total ban, the Dutch mental health care sector hopes to prevent further normalisation of gambling behaviour among young people and to protect them from the temptation and consequences of online gambling.

The post Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising appeared first on European Gaming Industry News.

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Compliance Updates

UKGC: Market impact data on gambling behaviour – operator data to Oct 2024

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The Gambling Commission has published further data on the gambling industry in Great Britain.

This data, sourced from operators, reflects the period between March 2020 and September 2024, inclusive, and covers online and in-person gambling covering Licensed Betting Operators (LBOs) found on Britain’s high streets.

Comparison should not be made with the industry statistics dataset, as this dataset may include free bets and bonuses and does not include data from all operators.

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This release compares Quarter 2 (Q2) of financial year 2024 to 2025, with Q2 of 2023 to 2024, looking at how the market has changed in comparative periods over a year.

The latest operator data shows:

  • online total Gross Gambling Yield (GGY) in Q2 (July to September) was £1.32 billion, an increase of 11 percent from Q2 the previous year. The overall number of total bets and/or spins increased 12 percent Year-on-Year (YoY), reaching a new peak for the third consecutive quarter of 25.2 billion, whilst the average monthly active accounts2 in the quarter increased 8 percent
  • real event betting GGY increased by 6 percent YoY to £453 million. The number of bets decreased 10 percent, while the average monthly active accounts in Q2 increased 9 percent
  • slots GGY increased 16 percent to £680 million YoY. The number of spins increased 13 percent to 23.3 billion while the average monthly active accounts in Q2 increased 16 percent to 4.4 million per month. Although this is a new peak for GGY in this dataset for the slots vertical, it should be noted that one operator has re-classified some of its products into the slot vertical this quarter, which has had an impact on the vertical data
  • the number of online slots sessions lasting longer than an hour increased by 9 percent YoY to 10 million. The average session length remained at 17 minutes. Approximately 6.1 percent of all sessions lasted more than one hour compared to 6.6 percent in Q2 the previous year. The number of spins per session has fallen from 147 to 142 YOY, whilst the GGY per session has fallen from £4.20 to £4.13 in the equivalent timeframe
  • LBO GGY decreased by 1 percent to £533 million in Q2 2024 to 2025, compared to the same quarter last year, while the number of total bets and spins decreased by 0.1 percent to 3.1 billion.

The post UKGC: Market impact data on gambling behaviour – operator data to Oct 2024 appeared first on European Gaming Industry News.

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Industry News

Petra Maria Poola Joins Xace as Group Commercial Director

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Xace has announced that Petra Maria Poola has joined the company as Group Commercial Director.

Petra brings a wealth of experience from the iGaming industry having formerly held roles at several iGaming companies such as Yolo, Relax Gaming and SiGMA. She will lead the commercial growth of Xace and its group companies, including crypto and iGaming focused xda.io, helping to drive strategic initiatives across banking, fintech and iGaming solutions.

In her new role, she will mainly oversee the growth of the group’s sales, marketing and account management functions, ensuring a cohesive strategy that supports Xace’s ambitious expansion plans.

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“I am incredibly excited to start this new chapter with Xace, and work alongside such a talented team and management. Transitioning into the fintech space, while still connected to iGaming, presents an exciting opportunity for growth and learning. I’m looking forward to applying my expertise to help Xace and its group companies achieve new heights commercially, while gaining deeper insights into the fast-evolving world of fintech,” said Petra Maria Poola.

Reuben Abel, CEO of Xace, said: “Petra’s extensive background in the iGaming sector, combined with her commercial acumen, makes her a valuable addition to the Xace team. She will play a crucial role in expanding Xace’s market presence and enhancing its suite of services tailored to the specific needs of the iGaming and fintech industries.”

The post Petra Maria Poola Joins Xace as Group Commercial Director appeared first on European Gaming Industry News.

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