Ahead of the upcoming SiGMA CIS & Balkans summit we catch up with David Yatom Hay, General Counsel at Soft2Bet, for an in-depth look at their plans for the year ahead. Soft2Bet is also sponsoring the prestigious gala awards evening on the 4th and the official closing night party on the 6th.

Soft2Bet has had a very busy 2023, with numerous new market entries already announced. Can you give us an update on how these markets are going for you so far?

2023 has been a transformative year for Soft2Bet, marked by strategic expansions and a deepened commitment to our global audience.

Starting with Romania, our recent licensing achievement is a testament to our dedication to offering top-tier services in regulated markets. This license enables us to bring our state-of-the-art products and services to the Romanian audience, further strengthening our European foothold.

In Greece, our acquisition of a B2C license has been a significant milestone. The Greek market, with its consistent growth, presented an ideal landscape for our entry. With this licence, we’re now equipped to operate both a casino and sportsbook, catering to a wide range of player preferences. Our gamification features, which have received acclaim in other regions, are set to enhance the gaming experience for our Greek clientele. Furthermore, our commitment to responsible gambling ensures that we provide a secure and enjoyable environment for all our players in the region.

Moving beyond Europe, North America is indeed a pivotal region for us. Our imminent entry into the Canadian market, particularly in Ontario, is something we’re incredibly excited about. The potential of the Canadian gaming market is vast, and we’re gearing up to introduce our diverse game offerings to Canadian players by year-end.

Our global vision doesn’t stop there. Latin America is on our radar, with countries like Brazil, Argentina, and Colombia offering promising opportunities. We’re keen to tap into the burgeoning online gaming industry in LatAm, and our strategy involves tailoring our offerings to resonate with the unique preferences of players in this region.

Lastly, the United States is a market we’re closely watching. Its state-by-state regulatory approach presents challenges, but the potential rewards are immense. We’re actively engaging in discussions and exploring partnerships to navigate the US regulatory landscape and make a significant entry into this lucrative market.

How did you go about selecting which markets to enter? 

Our approach to market selection is multifaceted and rooted in a deep understanding of the iGaming landscape. One of our primary considerations is always the regulatory environment. We give precedence to regions with a clear and stable regulatory framework. Securing licenses, as we did in Romania and Greece, not only underscores our commitment to compliance but also lays a solid foundation for our operations.

Equally important is assessing the market’s potential and its growth trajectory. For instance, when we looked at the emerging iGaming scene in certain regions, we recognized immense opportunities aligned with our strengths and offerings.

Now, entering a market is one thing, but truly resonating with the audience is another. That’s where understanding cultural nuances and player preferences comes into play. We’re passionate about tailoring our offerings, ensuring they align with the unique tastes and preferences of players, whether they’re in Latin America or any other region.

The competitive landscape is also a crucial factor. In markets teeming with both domestic and international operators, our focus isn’t just on making an entry but on carving a niche for ourselves. We aim to differentiate through unique offerings and features that enhance the player experience.

At the heart of all our decisions is our overarching vision to expand our global footprint. While we have significant efforts underway in specific regions, our gaze is set on a broader horizon. We’re always on the lookout, evaluating potential markets, both within and outside Europe, with an ambition to grow our license portfolio.

Lastly, challenges are a given in any market, be it regulatory nuances or market saturation. But at Soft2Bet, we view these challenges as opportunities waiting to be harnessed. We’re proactive, always exploring partnerships and innovative strategies to navigate these challenges and turn them into avenues for growth.

Soft2Bet is expected to introduce a number of new features to its product offering, including gamification and enhanced customisation and localisation. What can you tell us about these plans?

The most important product release happened recently with our innovative casino city-builder. We plan to further develop it and introduce the same concept into the sports vertical. We strongly believe this will bring increased retention and player value as it is something that players never saw before. Becoming successful in a regulated market is not an easy task nowadays, but this new product will give us a competitive advantage.

How important is gamification, customisation, and localisation when looking to create an elevated player experience?

Gamification, customissation, and localisation are all crucial elements when it comes to creating an elevated player experience in the online gaming and gambling industry. Each of these factors contributes to enhancing engagement, satisfaction, and retention among players.

Gamification involves incorporating game-like elements into non-game contexts, such as online casinos and sports betting platforms. By adding features like challenges, missions, leader boards, and rewards, gamification makes the overall experience more interactive and entertaining. It taps into players’ intrinsic motivation to achieve goals, compete, and earn rewards, thereby increasing their engagement and loyalty to the platform.

Customisation allows players to personalize their gaming experience according to their preferences. This can include choosing avatars, themes, colours, and even adjusting game settings. By offering customization options, platforms can create a sense of ownership and comfort for players, making them feel more connected to the experience. Customization also enables players to tailor their interactions to suit their skill level and interests, contributing to a more satisfying experience.

Localisation involves adapting the platform to cater to the cultural and language preferences of different regions and player groups. Providing content in the local language, offering payment methods that are popular in specific regions, and understanding cultural norms all contribute to making players feel valued and understood. This level of attention to detail can significantly improve the user experience and build trust among players.

Combining these elements creates a holistic and immersive player experience, which ultimately leads to increased player retention, higher levels of customer satisfaction, and improved brand loyalty. Players are more likely to spend more time and money on platforms that provide them with enjoyable, tailored, and culturally sensitive experiences.

David Yatom is the General Counsel at Soft2Bet. His experience extends over a decade, involving the representation of gambling companies in complex deals, acquisitions, and mergers. His focus areas include sports betting platforms, B2B operations, and his experience with B2C companies. David has managed successful licensing processes in major European countries and the United States. His proficiency extends to AML regulations and GDPR compliance, ensuring the lawful operation of his clients’ businesses.