Industry News
Soft2Bet Shares 2023 Results and Predicts Biggest iGaming Trends for 2024
Soft2Bet has experienced significant growth in 2023 and as the year draws to a close, we look into the trends that are likely to dominate the iGaming sector in 2024.
Gamification will expand further in 2024 and become hyper-localized
Gamification features will keep expanding in 2024 and Soft2Bet will continue to customize them to players’ preferences in their individual markets. Gamification will also grow in popularity as it becomes even more localized and captures more of consumers’ attention and screen time.
Why gamification is important in iGaming
Gamification is a term that is and continues to be widely used in the online gaming and betting industry. There are a number of reasons for this, but going back to the social casino craze of 2012-2013, it is strongly linked with social and casual gaming and the ability to extend player values through engagement and gameplay.
The social gaming craze may have calmed down from those heady days, but the companies active in that sector continue to generate substantial revenues through micro-transactions, in-game advertising or secondary marketplaces. Gamification, in other words.
How does this apply to iGaming and how does Soft2Bet harness gamification?
The short answer to that question is that we have integrated social engagement and gameplay features, localized them to specific countries and regions into our real-money gaming products to create the Soft2Bet Motivational Engineering Gaming Application (MEGA), our gamification engine.
Global gamification continues significantly growing, while MEGA features have generated very strong financial and product-performance results, it’s also important to remember the huge amount of work that goes on behind the scenes to make this happen.
As Yoel Zuckerberg, Chief Product Officer at Soft2Bet, explains: “In practice this translates into our tech, development, marketing or CRM teams spending many man-hours integrating all those elements into our products’ gameplay.”
“This has meant hours of painstaking technical work developing a fully integrated solution that is seamless, secure, tailored and geo-targeted to players’ habits and preferences. This work is paying off and has enabled Soft2Bet to grow faster than ever in 2023.”
iGaming trends 2024
The Era of Mobile Gaming.
The mobile gambling market is expected to reach over $150 Billion by 2030, and around 70% of online betting revenue comes from mobile gambling. With the addition of new innovations in personalization and gamification on mobile apps, mobile gaming will only accelerate its growth in 2024. iGaming brands must be focused on staying ahead of the curve, bringing the most exciting and engaging mobile gaming offerings to players in its new and existing markets around the world.
AI will become even more integrated and inform new features.
As AI continues to progress and advance, companies such as Soft2Bet will prioritize discovering innovative ways to harness this technology. By effectively employing AI to analyze data, it becomes capable of pinpointing crucial trends and detecting shifts in player preferences. These insights can be directly applied to enhance the platform’s features and elevate the overall user experience.
UI, UX enhancements combined with player behavior analytics will be key drivers.
Player behavior analytics will play a key role, and being up-to-date with the latest technologies and innovations will be crucial for iGaming companies hoping to see success in 2024.
Responsible gaming initiatives will take center stage
Soft2Bet has always been committed to responsible gaming and predicts that other companies will continue to increase investment in this field, especially as they enter new jurisdictions with new regulations. The industry will introduce more innovative, proactive, and user-friendly responsible gaming tools and solutions in 2024.
MEGA drives Soft2Bet
Motivational Engineering has been key to Soft2Bet’s success in 2023 because it enables us to deliver quality products that are highly personalized and localized to the markets we operate in. This trend will continue in 2024 and we will keep providing tailored offerings to our casino players and sports betting customers: City Builder features for our casino-focused players, while sports bettors can engage with our Sports Stadiums.
Uri Poliavich, founder and CEO of Soft2Bet added: “As we move into 2024, the key to succeeding in our industry lies in adapting to evolving player preferences, harnessing cutting-edge AI, advanced motivational engineering techniques, and ensuring a seamless user experience. At Soft2Bet, we are fully equipped and committed to meeting these challenges head-on. With our innovative and hyper-localized MEGA solutions, advanced analytics, and a strong emphasis on responsible gaming, we’re poised to not only adapt to the changing landscape but to lead and define it.”
Soft2Bet’s EBITDA grew by more than 300% in 2023, driven by Motivational Engineering Gaming Application (MEGA), our unique gamification technology. The company also obtained 10 new licenses in seven different countries, including Sweden, Italy and other major markets.
The effectiveness of our MEGA technology was also demonstrated by the growth of our Betinia brand in Denmark and Sweden, the two leading Scandinavian markets, where GGR increased by more than 65% and by more than 50% of the playerbase engaged with gamification. In addition, deposit amounts were 50% larger and 30% more frequent and average revenue per user (ARPU) grew by more than 70%. These achievements have been recognised by our peers and we were delighted to be shortlisted in the following five categories of the EGR Nordics Awards.
Martin Collins, CBDO at Soft2Bet, commented: “For 2024, we look forward to furthering our innovation and motivational engineering offerings while expanding our reach across the globe. The next year will be a pivotal one both for our company and the iGaming industry more broadly. We focused on driving these exciting new trends as we continue to disrupt and drive the industry forward.”
Ruud Bergervoet has been reappointed as CFO of Holland Casino. He will remain financially responsible for the gambling provider for another two years. Bergervoet has already been CFO for two terms of four years, but due to the special circumstances of the company, he has been asked to remain as a director.
CEO Petra de Ruiter said: “I am very happy that Ruud is prepared to stay with us. With his experience and knowledge of the company, he is indispensable at this moment. We have to work very hard in the coming years to keep Holland Casino financially healthy. And I am certain that this is in good hands with Ruud.”
Ruud Bergervoet has been working at Holland Casino since 2017. Before that, he worked as CFO at FD Mediagroep and Sdu Uitgevers, among others.
During the shareholders’ meeting of April 16, Bergervoet was nominated by the Supervisory Board and his nomination was confirmed.
The post Ruud Bergervoet Reappointed as CFO of Holland Casino appeared first on European Gaming Industry News.
AskGamblers has announced that the final voting stage of the 8th annual AskGamblers Awards has started.
The voting phase kicked off on 28 April, and will last until the award ceremony scheduled for 12 June.
As in previous editions of the Awards, players can cast their votes for one of the top 10 finalists in the following categories: Best Casino, Best New Casino, Best Sportsbook, Best New Slot and Best Software Provider.
The Best Crypto Casino, Best Partner and Best Manager categories will traditionally be chosen by the AskGamblers team. This year’s edition introduces a new category, the Superstar Award, a crown achievement handed out to one operator that best represents the values of brands, whose laureate will also be chosen solely by AskGamblers.
Another novelty in this year’s Awards cycle is the Forum vote: the votes from the members of AskGamblers Forum will be counted towards the final tally of votes as a separate voting tier.
Commenting on the launch of the 8th AskGamblers Awards voting stage, Dijana Radunović, General Manager at AskGamblers, said: “Now that we have the finalists, we are entering the final stages of preparation for our biggest night of the year. To say that we are excited about the 8th edition of the AskGamblers Award would be an understatement.”
“As everybody in the team is working tirelessly to make the gala ceremony a night to remember, we invite our players to do their bidding: to give a vote to their favourite contestants and help us choose the rightful winners in the five categories that are open to public vote,” Radunović added.
Before the award ceremony on 12 June, AskGamblers will host the traditional Charity Night on 11 June, where the partners will bid for positions on the website, with the money raised allocated to a humanitarian cause.
The post The 8th AskGamblers Awards Officially Enters the Voting Stage appeared first on European Gaming Industry News.
Flexion, the games marketing company, has announced that its revenue grew 9% to year-end December 2024. The growth is attributed to the Company’s success in the alternative app store market.
Since its IPO in 2018, the company has built a well-positioned games marketing business around the alternative stores and grown annual revenue 50-fold to almost US$100 million. Its game portfolio represents several billion US$ in gaming IP for alternative market partners like Samsung, Amazon, Huawei, OneStore and Xiaomi.
“With the Digital Markets Act (DMA) coming into force in Europe and recent legal actions in the US, mobile game developers have felt a new-found freedom to explore their market options. We’ve already moved beyond the era when Google and Apple controlled everything. Developers are looking for alternatives that offer better margins, and additional audiences and revenue. Partnering with Flexion opens up a range of market channels with very little up-front investment,” said Jens Lauritzson, CEO of Flexion.
Flexion currently distributes more than 30 high-profile titles on the alternative stores. Top-tier games in the Flexion portfolio make on average US$ 10 million a year based on Q4 2024 run rate. That’s income in addition to their Google and Apple revenue with a business model that adds little to their costs.
In Q4 2024, Flexion-serviced games were, on average, generating 9.3% through the alternative stores of the revenue they made on Google Play. This is a significant boost for Flexion’s partners without major costs or effort.
“If you scale for the size of the stores, the alternatives massively out-performed Google in Q4 for our games. This is exciting both for Flexion’s business and for the future of the games industry as a whole. We’re seeing the beginning of a sea change in games marketing,” Jens said.
“We’re seeing just the beginnings of a major shift in how top-tier developers address their markets. Using Flexion to access alternative stores is an easy first step into the post- Google and Apple world. Many developers are already looking at their options beyond that and Flexion will be right there with them providing the technology and expertise they need to maximise the potential of their games,” Jens added.
The post Flexion Reports Revenue Increase of 9% for 2024 appeared first on European Gaming Industry News.
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