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Soft2Bet Shares 2023 Results and Predicts Biggest iGaming Trends for 2024

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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.

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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.

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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.

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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

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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.

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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.”

Gambling in the USA

Gaming Americas Weekly Roundup – August 11-17

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

AU10TIX announced the launch of a free Child Safety Age Assurance Risk and Readiness Assessment and Age Assurance Readiness Guide designed to help businesses better understand their risk and tailor their strategy to meet regulatory obligations. They support AU10TIX’s Selfie-based Age Estimation service, which delivers the industry’s most precise and unbiased age assessment in just two seconds. In the US, federal legislation such as the Children’s Online Privacy Protection Act (COPPA) requires parental consent for users under 13, while the California Consumer Privacy Act mandates age verification for websites accessed by users under 16. Additionally, 19 U.S. states now enforce mandatory age checks for adult content and gambling platforms. Similar regulations are impacting social media and online services in the UK, EU and Australia.

Caesars Entertainment has launched its third fully in-house developed proprietary online casino title: Signature American Roulette. Now live in New Jersey, the game is available across Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino, bringing another standout addition to the Company’s Signature table game series. Developed by Empire Creative, Signature American Roulette reflects Caesars’ growing investment in building its own proprietary content, a cornerstone of its online casino strategy aimed at delivering a best-in-class player experience. Signature American Roulette follows the recent launches of fan-favourite Signature titles, Caesars Palace Signature Multihand Blackjack Surrender in May and Signature Blackjack Surrender in June, both also developed by Empire Creative.

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Novig announced the successful close of an $18 million Series A funding round. The round was led by Forerunner, with participation from existing investors Y Combinator, NFX, Perceptive Ventures and Gaingels. Founded by Jacob Fortinsky and Kelechi Ukah, Novig is reimagining sports predictions as a transparent and fair marketplace. Unlike traditional sportsbooks, Novig allows users to trade directly with one another, rather than against the house, eliminating hidden fees, biased odds and the risk of being penalised for winning.

Partnerships

IGT announced that it has secured a multi-year sports betting technology and services agreement with Hipodromo de Agua Caliente SA de CV and Distribuidora Internacional de Equipos de Juego, S. De R.L. De C.V. that will significantly extend IGT PlaySports’ footprint to Mexico and Latin America via Corporación Caliente. Per the agreement, 42 Caliente sportsbooks in Mexico will leverage the IGT PlaySports platform and services from the Company’s Trading Advisory Services Team. Through a phased rollout, Caliente will also be able to provide select sportsbooks operators throughout Latin America access to IGT PlaySports’ technology, extending the technology’s reach to more than 100 additional venues across eight countries.

CT Interactive has announced a strategic partnership with Ondiss. Through this collaboration, CT Interactive’s top-performing titles are now integrated into the Ondiss platform, significantly expanding the company’s reach within the region’s regulated iGaming market. This integration adds value to the broad Argentine audience of Casino & Hotel Casino Magic S.A., which successfully uses the Ondiss platform. With CT Interactive’s certified and player-favourite content now available, operators on the platform are empowered to diversify their offerings and meet the increasing demand for engaging, high-quality games.

The post Gaming Americas Weekly Roundup – August 11-17 appeared first on European Gaming Industry News.

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PAGCOR Opposes Online Gambling Ban Amid Pressure to Criminalise the Industry

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PAGCOR, the Philippine gaming regulator, has opposed a proposed ban on online gambling, despite mounting nationwide calls to criminalise it over soaring numbers of addiction, debt and mental health cases.

The online gambling sector in the Philippines has been growing exponentially, with gross revenues jumping from $140M in 2022 to $2.4B in 2024, according to Senate Committee on Games and Amusement data.

The committee held a hearing last week, highlighting the human cost of the industry, with its members demanding to outlaw it, saying the country was facing a full-blown public health and social crisis.

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Sen. Erwin Tulfo, who led the hearing on online gambling, warned that “as long as online gambling exists, we are breeding the next generation of addicts, debtors, and broken families.”

He called for a ban and to “prosecute not only the operators, but also the enablers — in the government and in the private sector — who profit from this misery.”

PAGCOR, which is both an operator and regulator, said it “is not in favor of a total ban and instead advocates for stricter regulation.”

The regulator said that illegal operators are the real problem.

“Unfortunately, many of these unregulated online operators are based overseas who target Filipinos, most of whom do not realize that the sites they are playing on are not licensed by PAGCOR. This is where problems arise, especially regarding age restrictions.”

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But a survey cited by senators indicates that age was not the main issue. It indicated that 66% of Filipinos aged 18 to 40, and 57% of those aged 41 to 55 were engaged in online gambling. Nearly a third bet multiple times a week, some wagering up to $53 per session.

Majority Leader Joel Villanueva warned online gambling is a “growing national crisis” in the Philippines.

“People are not just risking their hard-earned money. They are putting their futures, families, and lives on the line. The lure of instant wealth has already led many down a path of addiction, debt, and despair,” he said.

“Online gambling is not just a matter of financial loss. It is strongly associated with serious mental and physical health issues, broken relationships, family conflict, increased cases of domestic violence and suicide, crime against persons and property, and ultimately, the erosion of opportunities and dignity in the lives of many Filipinos.”

The post PAGCOR Opposes Online Gambling Ban Amid Pressure to Criminalise the Industry appeared first on European Gaming Industry News.

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UNLV International Gaming Institute Launches New AI Research Hub

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The UNLV International Gaming Institute has launched a new AI Research Hub (AiR Hub) to tackle some of the most pressing challenges facing the gaming industry’s digital transformation.

Co-founder Kasra Ghaharian, the institute’s director of research, said the AiR Hub will address critical questions reshaping the sector: How is artificial intelligence transforming gaming operations? What governance frameworks should guide AI implementation in this traditionally regulated industry? Which emerging technologies must operators master to stay competitive? And how can the sector effectively integrate responsible AI practices with cutting-edge academic research?

“So all of these things that you might expect a research institution to do,” Ghaharian said, “we wanted to do specifically for this intersection of AI with gambling.”

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While scattered research around AI in gaming has existed, Ghaharian said there hasn’t previously been a central hub for it. He and AiR Hub co-founder Simo Dragicevic, an International Gaming Institute (IGI) adjunct fellow, saw the opportunity to generate evidence, research and insight that could help the industry better understand and navigate AI technology.

“I think IGI has always had this place to be a thought leader in terms of knowledge, insights for the breadth of stakeholders across the gambling industry. And with the growth and expansion of this new technology, which is artificial intelligence, I think it’s important for us to continue that reputation,” Ghaharian said.

AI is and will continue to have a fundamental impact on all aspects of society, said Dragicevic, who is an industry veteran with experience in gaming software, regulation and AI.

As the gaming industry naturally focuses on product innovation and growth, it’s important someone is also looking at the potential safety aspects that may arise from AI — and AiR Hub is prepared to take on this critical role, Dragicevic said.

“Given the arguably controversial nature of the gambling industry and the gambling product, when it intersects with this technology — which, in and of itself, is controversial — I think that highlights the need for scrutiny; for some research to help guide the ship,” Ghaharian said.

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The AiR Hub has received financial support from a variety of industry stakeholders, Ghaharian said. Founding industry members will also serve on an industry advisory panel to ensure that what the hub is doing is practical and relevant.

“It’s kind of that analogy of the ivory tower, right?” he said. “We don’t want to be just in a silo, not speaking to the industry, doing research that we think is relevant, that might not be applicable.”

There’s a reason the new entity is called a “hub” and not a “lab,” Dragicevic said, and that’s to emphasize its collaborative nature.

AiR Hub will build a framework and tools for regulators to help them ask the right questions before making any decisions on whether regulations need to adapt to change, he said, by inviting them to work with academics and partner universities in the early stages of projects.

It will also be important to engage the industry to ensure framework and tools are practical and factor in the complexities and nuances of the industry, Dragicevic said.

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