Company analysis

SOFTSWISS Sportsbook's Q1’24 overview shows marked customer preference for real-time wagering

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iGaming software provider SOFTSWISS has released an overview of its sportsbook product in the first quarter of 2024. The Q1 analysis indicates a marked preference amongst bettors for real-time wagering. 

"This trend enhances engagement and offers sports betting operators higher margins and quicker capital turnover, demonstrating live betting as one of the key drivers of profitability in the sports betting domain," said the company.

Moreover, the transition from desktop to mobile continues to accelerate, with mobile devices accounting for 90% of the GGR, up from 86% the previous year. This trend highlights the growing importance of mobile-friendly betting solutions and suggests that operators prioritizing mobile integration and user experience are likely to capture a larger market share.

A look at the top sports by GGR shows a stable interest in traditional favorites with some notable shifts. Football remains dominant, while tennis has overtaken basketball for the second spot. The inclusion of American football in the top five, primarily driven by the Super Bowl in February, reflects the impact of major sporting events on betting behavior. Ice hockey remains strong, underscoring the sport's consistent appeal to bettors.

Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, reflected on these developments: "The trends we've observed in Q1’24 emphasize our platform's adaptability and growth while also underscoring critical dynamics in player preferences and technological advancements. Our focus on enhancing live and mobile betting capabilities directly responds to these insights, aiming to provide our partners and their customers with superior betting experiences."

In Q1’24, the SOFTSWISS Sportsbook continued its growth trajectory. Turnover surged by 246% compared to Q1’23, while month-on-month growth from Q4’23 reached 136%. Revenue also saw a staggering increase, jumping 251% year-on-year and maintaining a consistent month-on-month growth of 136%.

The SOFTSWISS Sportsbook team has recently published a free Sportsbook Budget Calculator, helping businesses consider launching a sports betting project to calculate the costs and benefits. Also, in celebration of its 15th anniversary, SOFTSWISS is offering new Sportsbook clients free access to the Jackpot Aggregator for all local jackpot campaigns for the first 150 days after launch.

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