SBC News Voice of the Sports Betting Industry
Gamification, or Motivational Engineering as it’s known at Soft2Bet, may well make it into the top five phrases for the gambling industry in 2023. And as gaming providers look for new and innovative ways to engage with players, it’s only going to become even more popular in 2024.
But how many gaming companies can honestly say they’re ‘getting it right’ when it comes to deploying gamification features? Styliana Kalogreadou, Head of B2B Marketing, is confident that Soft2Bet has established itself as a leading authority on the technology.
In a chat with SBC News, Kalogreadou discussed how Soft2Bet has dealt with its expansion into multiple global markets before walking us through the company’s approach to Motivational Engineering and how this differentiates Soft2Bet from the competition.
SBC: Soft2Bet has undergone tremendous growth over the course of the last 12 months – what would you say has been the secret behind this success?
SK: One of the key components behind our success has been our ability to manage growth and handle the business and regulatory requirements that have come from that expansion.
We have done this successfully by focusing on recruiting, training and investing on the growth of all our teams. The aforementioned measures have enabled us to plan for and cope with the increased volume of business.
SBC: Why has Soft2Bet chosen to focus on global expansion during 2023? And how do you maintain that momentum going into next year?
SK: We are in a state of constant evolution and development at Soft2Bet, so maintaining the momentum that comes with our expansion is something that we are used to.
The other point to note is that regulation is non-negotiable these days. Having a regulated footprint is a key strategic action point for Soft2bet, that means getting licensed and planning for work in those regulated jurisdictions. The landscape is changing; if you are going to remain competitive, you must be able to offer regulated markets to potential customers.
That is why we have obtained B2B and B2C licences in Italy, Romania, Greece, Denmark, Ireland, Malta and Sweden and are going through the regulatory process in Germany, Portugal, New Jersey and Ontario in Canada.
This expansion will continue into 2024 and we are constantly looking at and analysing jurisdictions that we could potentially operate in. This will apply to both B2B and B2C partners, when we see a sweet spot in our analysis and numbers, we commit and move forward.
SBC: Are there any particular markets that we can expect to see Soft2Bet expand its B2B offering in in the next few months?
SK: We have obtained B2B licences in Greece and Sweden and are going through the licensing process in the US state of New Jersey and in Ontario, Canada.
Respectively, those jurisdictions are key markets in their own right. But for New Jersey and Ontario, the B2B business case is highly relevant as both markets are highly competitive and demand for quality content is strong.
SBC: Gamification has become an increasingly important strategy to engage and retain players. Can you tell us about some of the new technologies that Soft2Bet is using to gamify its products?
SK: Our gamification engine is called Motivational Engineering. It is something that we have been focusing on for a few years now and it is paying off. Mass adoption across our products and platforms has generated growth, engagement and high loyalty levels for our partners, with players able to enjoy quality content that they want to engage with and return to.
For all the talk of the igaming industry being tech-led, many of the best-known brands in our sector rely on tech stacks that are outdated and not up to the requirements of the digital age.
This means there is a great deal of legacy technology and this materially impacts the industry’s ability to deliver the cutting edge solutions that directly impact your bottom line as an operator.
As a global igaming supplier, Soft2Bet tackles these issues with a transformational approach, harnessing tech innovation through agile and modular microservices to turn challenges into opportunities.
We also recognise the need for a shift in the conservative mindset that is prevalent in the online gambling industry – we aim to drive change. We address the problem of outdated platforms by offering scalable solutions that can swiftly integrate new features, overcoming the limitations of old templates.
Additionally, we emphasise the rewarding nature of the gamification journey, acknowledging that while it may require time and effort, the substantial rewards make it worthwhile.
SBC: What role does personalisation and localisation play in gamification? Is this a necessary component and, if so, how do you effectively achieve this given the wide range in demands from players?
SK: Data is the key component to delivering personalised experiences for customers. Armed with data, you can build profiles and segments that empower you to deliver a more personalised approach to your customers.
For example, if you have sports betting customers and there are specific sports or teams they like to gamble on, you can tailor your offers to their interests and passions.
We’ve said it many times, but gamification, what we call Motivational Engineering, is more than a buzzword at Soft2Bet. Our City Builder, Betinia Stadiums and Bonus Crab features (see graphic below) are our most well known gamification products and that is because they deliver results for us and, most importantly, for the operators on our partner network.
The impact of Motivational Engineering, our gamification technology, is confirmed through the statistics recorded by our Betinia brand in Scandinavia. As shown by the graphic below, in the strictly regulated market of Sweden, 52% of Betinia’s player base engages with the gamification features, its GGR is up 65% compared to non-gamified brands and average revenues per user (ARPU) are up a staggering 70%.
SBC: Can you tell us about Soft2Bet’s plans to continue growing its B2B division in 2024?
SK: As mentioned, when looking at North America, the B2B business case is particularly relevant in New Jersey and Ontario. With regard to our European activities we are focusing on both B2B and B2C scenarios, either through our platform partnerships or with distribution agreements with content aggregators.
