Soft2Bet's Big Move into the Italian Online Gambling Market

Date: 2023-09-21 Author: Dima Zakharov Categories: EVENTS
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Soft2Bet is making waves with its latest expansion into the Italian online gambling market. The company's recent acquisition of a Maltese company holding an Italian license paves the way for it to provide its services to Italian operators and players.

This strategic move aligns with Soft2Bet's mission to extend its reach into regulated markets worldwide, while also fortifying its position in Europe, where it already operates in several other countries.

David Yatom Hay, General Counsel at Soft2Bet, expressed his excitement about the company's increased presence in Europe. He said, "We at Soft2Bet are thrilled to venture into the Italian market. This expansion underscores Soft2Bet's commitment to diversify its regulatory portfolio. We believe that Italian operators will discover great value in what Soft2Bet has to offer."

Soft2Bet will work closely with the Agenzia delle Dogane e dei Monopoli (ADM), Italy's regulatory authority for online gambling, to ensure strict adherence to local laws and regulations.

Italy boasts one of Europe's largest and fastest-growing online gambling markets. In 2023, it is anticipated to generate a substantial $2.91 billion in revenue. This revenue is projected to grow at an annual compound growth rate (CAGR) of 7.25% over the next five years, ultimately reaching an impressive $3.85 billion by 2027.

The online casino segment stands as the dominant force within the Italian online gambling market, contributing over 50% of the total revenue. Following closely behind is the sports betting segment, which accounts for more than 30% of the market's overall revenue.
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