Leading iGaming technology provider, Softswiss, has recently made a headline-grabbing move by acquiring a “significant” stake in Europe’s social gaming realm. Their target, Ously Games, is well-regarded in the online gaming industry for its flagship platform, SpinArena.net, a premier destination for social casino enthusiasts.
This bold venture means Softswiss will now provide a substantial technology overhaul to Ously Games, who are based in Germany. The specific details of the investment stake remain undisclosed, yet it is clear that Softswiss recognizes the potential in the burgeoning market of social casinos.
Social casinos distinguish themselves from traditional online gaming platforms by offering gaming experiences without real-money stakes. Instead, players dive into the thrills of gaming with virtual currencies, generating revenue for the platform largely through the sale of virtual goods.
One of the instrumental benefits Softswiss has identified with its latest investment in Ously Games is the relative ease of operation in terms of licensing. Unlike real-money casinos, social casinos operate free from the stringent licensing requirements and advertising restrictions that typically burden their counterparts.
According to Softswiss projections, the social casino market is set to soar, potentially reaching a staggering €10bn (£8.53bn/$10.64bn) by the year 2030. Currently, it is estimated that about 85 million players worldwide engage in social casino games.
On a more granular level, Ously Games’s SpinArena.net is celebrated for providing the largest variety of slot games to social casino players across Europe. The platform has witnessed a meteoric rise in user engagement: since the dawn of 2023, its player base has grown threefold, now surpassing the 700,000 mark. With an impressive offering of more than 3,000 games sourced from nearly 40 different providers, SpinArena.net boasts an annual turnover of €1.0m.
Softswiss founder, Ivan Montik, views the investment as a strategic move to diversify the company’s portfolio. Montik states, “Anticipating the development of social casinos within the igaming industry, Softswiss made strategic investments to diversify its portfolio. Together, we aim to create a comprehensive platform for social casinos, enriching the robust ecosystem of igaming products provided by our company.”
Sharing Montik’s enthusiasm, Ously Games founder Jochen Martinez speaks of the union with Softswiss with great expectations: “We are delighted to forge a strategic partnership with the global technology provider Softswiss. This alliance brings invaluable insights, innovations, and profound expertise to both parties.”
The investment in Ously Games is among a series of calculated expansions undertaken by Softswiss in the recent months. Earlier this year, the provider made waves by announcing its venture into the African market via the acquisition of Turfsport. As with Ously Games, the financial terms and exact stake size of the Turfsport acquisition were kept under wraps. Nevertheless, Softswiss communicated that the acquisition broadens its product portfolio and serves to enlarge its market reach.
Specializing in solutions for sports betting, horse racing, and lotto, Turfsport collaborates with over 40 operators in South Africa. Co-CEO of Softswiss, Andrey Starovoitov, previously expressed optimism about the Turfsport acquisition, stating that it marks a “significant step forward” in Softswiss’s extensive expansion into South Africa and the wider African continent, suggesting that the region is emerging as a new global focal point following Latin America.
As the landscape of igaming continues to evolve, it is apparent that strategic partnerships like Softswiss’s investment in Ously Games will likely play a pivotal role in shaping the industry’s future, leveraging technological advances and market opportunities to cater to an ever-growing base of gaming enthusiasts worldwide.
