The current year has been a busy one thus far for iGaming platform provider Soft2Bet. In addition to the licenses it obtained in Greece and Sweden earlier in the year, and the launch of its Betinia brand in Denmark back in February, the company now adds a new milestone through the acquisition of the Romanian online gaming license.
To discuss this new achievement, Yogonet held an exclusive interview with David Yatom, General Counsel at Soft2Bet. During the conversation, Yatom also reflects on the company's expansion plans, the firm's approach to leveraging the latest gaming technology in its offerings, and what to expect of Soft2Bet in the months ahead.
Soft2Bet has obtained the Romanian iGaming license. How was this achieved, and what new opportunities does it open for the business? What are your expectations for this new market?
Soft2Bet's acquisition of the Romanian iGaming license is a testament to our commitment to operating in regulated markets, and it represents a significant milestone in our expansion strategy. This achievement was made possible by demonstrating our adherence to the comprehensive regulations and high operational standards set by the ONJN.
This new venture opens up opportunities to bring our robust suite of casino games and sportsbook offerings to Romanian consumers, in a market known for its rapid growth and transparency. Our expectations are high, as we aim to establish a firm presence in the Romanian market, catering to its diverse demographic with our innovative and secure gaming experiences.
This new achievement follows the acquisition this year of other such permits, including a B2B supplier license in Sweden, and betting events and casino games remote gaming licenses in Greece. What makes these markets attractive for Soft2Bet?
The Romanian iGaming license, along with the ones we have acquired in Sweden and Greece, are all part of our goal to expand our footprint in regulated markets across the globe. Each of these markets offers unique opportunities due to their robust growth, extensive regulations, and diverse consumer bases.
Sweden and Greece, like Romania, have shown significant growth in recent years, making them attractive locations for our offerings. These markets play a crucial role in our expansion strategy as they enable us to showcase our capabilities to diverse consumer demographics.
The business, which is committed to operating in regulated markets, has also grown its presence in other countries, including the launch of its Betinia brand in Denmark back in February. What distinguishes this brand from its competitors and what are the keys to its proposition? Which other markets does Soft2Bet target for future growth?
The launch of our Betinia brand in Denmark earlier this year, being a logical continuation of the brand’s expansion under MGA, Swedish, and Irish licenses, is another testament to our commitment to regulated markets.
Betinia distinguishes itself from its competitors through its extensive gamification features, which are uniquely adjusted to each region’s regulation requirements. Thus, even though it’s one brand, it’s distinctively different in each new geo because of those local tweaks.
As for future growth, we are continuously evaluating other regulated markets where we can further expand our presence. While we can't reveal specific plans at this moment, we are excited about the potential of several markets and, hopefully, will share more exciting news soon.
We have also seen Soft2Bet close a range of deals as of late that enhance the company’s offerings and features, including names such as SlotMatrix, BeyondPlay and CreedRoomz. What does Soft2Bet look for in its partnerships?
In our partnerships, we look for innovation, synergy, and a shared commitment to delivering exceptional experiences to our customers. The collaborations you mentioned enable us to enhance our offerings, bringing more variety and quality to our portfolio, and ultimately benefiting our consumers.
Plus, we’re always on the lookout for new partners that can help us deliver even more varied content to our clients. We are equally interested in market newcomers and industry leaders - the important thing is the quality of the product they distribute.
We are at a point of change in the iGaming industry, with new technologies, experiences and gaming offerings gaining space. Where do you see customer and industry preferences headed in the near term? How does Soft2Bet leverage the latest technologies in its offerings?
As the iGaming industry evolves, we anticipate trends toward more immersive, personalized, and mobile-first gaming experiences. Technologies such as augmented and virtual reality, artificial intelligence, and blockchain are gaining momentum, and Soft2Bet is committed to staying at the forefront of these developments.
We constantly strive to leverage the latest technologies to enhance our services and gaming offerings, ensuring that we deliver secure, innovative, and enjoyable experiences to our customers.
With the first half of the year having now concluded, how would you describe 2023 thus far for Soft2Bet and its expansion plans? What can we expect of the company going forward?
The first half of 2023 has been an exciting time for Soft2Bet. We have successfully extended our global reach by securing licenses in new markets such as Romania, Sweden, and Greece, and launching our Betinia brand in Denmark.
As for the rest of the year, we look forward to further expansion into other regulated markets and enhancing our portfolio through strategic partnerships. Our aim remains to deliver secure, innovative, and enjoyable gaming experiences to our customers, and we are excited about what lies ahead for Soft2Bet.