This expansion is aligned with Soft2Bet's mission to offer its services in regulated markets across the globe. It also strengthens the company's foothold in Europe, where it already has a presence in several other countries.
David Yatom Hay, General Counsel at Soft2Bet, expressed enthusiasm for the company's deepened European presence. He stated: "We at Soft2Bet are pleased to embark on this exciting venture into the Italian market. This expansion reflects Soft2Bet's unwavering dedication to diversifying its regulatory portfolio. We are confident that Italian operators will find great value in what Soft2Bet has to offer."
Soft2Bet will actively collaborate with the Agenzia delle Dogane e dei Monopoli (ADM), Italy's regulatory body for online gambling, to ensure compliance with local laws and regulations.
The Italian online gambling market is one of Europe's largest and fastest-growing markets. In 2023, the market is expected to generate US$2.91bn in revenue. This revenue is expected to grow at an annual compound growth rate (CAGR) of 7.25% over the next five years, reaching US$3.85bn by 2027.
The online casino segment is the largest segment of the Italian online gambling market, accounting for over 50% of total revenue. The sports betting segment is the second-largest segment, accounting for over 30% of total revenue.
