SBC News Voice of the Sports Betting Industry
Innovation and evolution of product offerings have been the key to mitigating the impact of sporting cancellations, writes Soft2Bet CEO Boris Chaikin.
As the wider betting and gaming industry continues to find new ways to deal with the impacts of COVID-19, Chaikin (pictured below) discusses Soft2Bet’s heritage, white label model, and how the company has adjusted amid the current pandemic.
The gambling industry has always been an exciting and complex arena, where speed and agility are attributes essential to any company’s success. Founded in late 2016 by a team of just five, Soft2Bet has evolved alongside this ever-expanding industry at a rapid-fire pace.
Having started with just one casino brand, we now have close to 20 on our platform, driven by an ethos that the industry deserves companies with a unique approach to markets and brands.
There was a time when unless you were a huge corporation, launching an online casino would have been a pipe dream. The need for large scale investment enabled large corporations to monopolise the market, edging out smaller companies that could not raise the high start-up costs.
Fortunately, the arrival of more white labels and platform providers on the market has provided greater consumer choice, industry competition and innovation.
Having originally gained experience in the B2C sector, the development of our white label offering placed us in the interesting position of being able to develop projects and adapt to issues with solutions other companies with only B2B experience may not possess. The transition was a logical move, with our in-house platform and brands becoming something operators wanted to use.
Companies can now go live with a new online casino site in a matter of weeks and at a significantly lower cost. Outsourcing reduces the hassle and expense of launching a new brand and many can now be tailored to the specific needs of the customer.
We are always looking towards cutting-edge white label development, with brands such as Nomini that has a diverse choice of welcome bonuses, or Wazamba which is an RPG adventure full of quests and items. All our websites are built from scratch.
With over 35 games providers, over 3,000 casino titles and Curacao, MGA and Swedish Spelinspektionen licences, we’ve attracted customers from all over the world.
But of course, right now it’s not just the online casino vertical that requires innovation, as sportsbooks are taking the biggest hit. These are truly unprecedented times, and with most sports currently on hold, many gambling companies are looking to new verticals to offset the financial effects on their sportsbooks.
As the unfortunate impact of the coronavirus pandemic continues to affect the sector it’s been the innovation and evolution of product offerings that have delivered results. For example, our sportsbook, Rabona, has seen an upsurge in the popularity of esports, which seems to be quenching the customer desire for live action sports.
Even with the unpredictability of the current global situation, and live sports out of action for the foreseeable future, it’s apparent that there are still swathes of people out there who are gambling.
Be it on esports, virtual sports or online casino slots, there has already been a proven cross-sell opportunity, as players themselves have gravitated to new gambling opportunities. While the future may be uncertain, one thing is for sure – people still want to bet.
Soft2Bet is delighted to be attending the SBC Digital Summit on the 27th April 2020. For more information or to book a meeting please contact [email protected].
