Soft2Bet is one step closer to launching in Ontario as it announced that it has been granted a Certificate of Registration in Ontario.

Soft2Bet is aiming to launch its Tooniebet.com iGaming brand in the province and obtaining a Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO) was the next step in the process.

“This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path,” said Soft2Bet Chief Business Development Officer Martin Collins.

The Ontario betting market is one of the world’s largest regulated jurisdictions. In the last quarter of 2023 Ontario reported gross gaming revenues of CA$658 million, which is the highest revenue recorded in Ontario wagering history.

iGaming revenue was the main driver of growth in Ontario as it generated CA$471 million in gross gaming revenue which highlights why Soft2Bet are pushing to enter the Ontario market.

The company says that it is also actively working to obtain a license in New Jersey as it continues its expansion in the Americas.

“Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets. We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region,” added Soft2Bet Head of Regulatory Compliance Elisabeth Isaksson.

Soft2Bet finds success with gamification tools

Soft2Bet reported exponential growth in 2023 which it says was primarily driven by the successes of its Motivational Engineering Gaming Application gamification technology designed to help clients improve upon their customer acquisition and retention rates.

The operator reported 300% EBITDA growth in the last 12 months as well as a gross gaming revenue increase in Denmark and Sweden of over 65%, and more than 50% of the player base engaged with gamification.

Soft2Bet, outlining its predictions for 2024, foresees an increased usage of AI in the industry. It believes that the technology will be used to more efficiently analyze data on customer preferences and therefore improve gamification offerings.