SBC News Voice of the Sports Betting Industry
Ahead of a high-profile appearance at the World Regulatory Briefing on the changing role of gambling compliance at next month’s ICE London, David Yatom Hay, General Counsel of Soft2Bet, spoke to SBC News about all things regulation and innovation.
SBC: With ICE London fast approaching, can you tell us more about your participation in the World Regulatory Briefing on the changing role of gambling compliance? What can delegates look forward to?
David Yatom Hay (General Counsel for Soft2Bet): Gambling compliance has evolved beyond nearly all recognition over the past 10-15 years and myself and the other panellists will be discussing this evolution. I’m really looking forward to it because it should provide an excellent overview of the challenges and opportunities that broad regulation of the industry has brought with it in that time.
Indeed, a simple way of looking at the topic could be to say the industry has always called for regulation; but now that it is widespread in Europe, many stakeholders are calling for reform! On a serious note, Europe is obviously important, but both North and South America are also going through regulatory developments and are major regions for further growth and expansion. I’m sure there will be plenty to discuss about how regulations have evolved there and their impact on suppliers and operators.
SBC: As the industry gets into gear for 2024, can you share your thoughts with SBC on your existing licences and those that are upcoming in Canada and the US?
DYH: Our European licences in Italy, Sweden, Denmark or Romania are fantastic launching pads for our commercial developments. We can launch both B2C and B2B brands with optimal speed to market while our partners can activate their marketing and recruitment campaigns knowing they are operating in full technical compliance with local regulations.
In North America, Soft2Bet is going through the regulatory process in New Jersey in the US and Ontario in Canada. Both are important jurisdictions. New Jersey has a rich gambling history and its regulators have been at the forefront of moving the regulated iGaming industry forward in the US. Ontario is in a similar position in Canada, although its evolution is more recent.
In addition, we’re not just expanding our global presence; we’re championing the vital balance between growth and responsible gaming. Our proactive approach in self-regulation and player protection isn’t just ethical, it’s a strategic move to ensure sustainable success in the ever-evolving landscape of iGaming regulations.
SBC: Tell us more about Soft2Bet’s range of turnkey solutions and explain what sets them apart from your competitors.
DYH: Soft2Bet’s turnkey solutions stand out due to their comprehensive nature and adaptability. We provide a full suite of services necessary for operators to efficiently manage their online gambling businesses. This includes customer support, VIP services, payments, KYC, risk management, responsible gambling, and CRM services. What sets us apart is the customization and personalization of our services to fit the unique requirements of different jurisdictions, ensuring compliance and cultural relevance.
Additionally, our offerings are available in multiple languages, catering to a global audience. This flexibility and attention to detail in understanding the needs of both operators and their markets differentiate Soft2Bet from our competitors.
SBC: Can you describe in detail Soft2Bet’s B2C and B2B offerings and the ways in which you are able to positively influence results for your clients?
DYH: Our flagship product is our Motivational Engineering Gaming Application (MEGA), our gamification platform. It plays a major role in helping both our B2B and B2C offerings grow by generating high levels of player engagement, screen time and boosting revenues.
For example, MEGA has helped our Betinia brand in Denmark and Sweden record:
- +65% increase in average GGR compared to non-gamified brands, with 60% of players participating;
- More than 50% of the Betinia playerbase engages with gamification, with 50% of them depositing larger amounts and frequency of deposits 30% higher;
- Average revenue per user (ARPU) has grown by more than 70%.
Gamification is the most visible part of our product portfolio, but it works in sync with our turnkey solutions delivered via our player account management (PAM) system.
These include casino content aggregation, sportsbook solutions, Managed Services and security teams. They power our front-end products, driving consistently high conversion and loyalty through a unique customer experience.
SBC: And finally, what are your big ambitions for building on Soft2Bet’s success in 2024?
DYH Our aim is to keep on growing, this will be led by MEGA as it delivers strong revenue growth that is sustainable and product-led, which is a key differentiator when looking at many of our competitors. In terms of regulation, expanding our regulatory footprint will be a definite focus.
As mentioned earlier, this will be in Europe and North America, but also in newer regions that we are investigating at the moment. And of course we’re very much looking forward to ICE London 2024, where I will be speaking during WRB and we will be hosting many workshops and meetings at our stand. We hope to see you there!
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David Yatom Hay – General Counsel – Soft2Bet
