You have built a recognized career in the sector, with knowledge in different areas (legal, compliance, regulation, technology, management, operations, etc.). In addition, you worked for a major gambling operator, so you also understand the needs from the other side of the business. How have you been able to apply all of that experience during the six months you have been in your role at Soft2Bet?
In the past six months at Soft2Bet, I’ve had the honor of being part of a remarkable team effort. While my role allows me to bring my experience in various sectors to the table, it’s the collective expertise and dedication of the Soft2Bet team that make these accomplishments possible. Our most recent realization was the expansion into the Italian market, a significant milestone that reflects our commitment to growth and compliance. This was a consequence of the collective contributions of our legal and compliance departments, as well as the technical and operational teams that work diligently behind the scenes. Our successes in Greece and Romania also stand as testaments to our team’s ability to navigate complex regulatory landscapes. Each of these milestones, including the Romanian license, has been a team achievement, involving meticulous planning, legal scrutiny, and technical implementation. I’m grateful for the opportunity to work alongside such talented individuals, and eager to see where our joint efforts will lead us in the future.
While in Europe, regulations seem to be increasingly restrictive and detailed, in North America (Canada and the United States), markets continue to advance and become legal. What would you say are the trends today in terms of regulation and compliance in these different markets?
In the European iGaming market, two major trends significantly impact Soft2Bet. Firstly, the market is becoming more regulated, providing a structured and transparent framework that aligns well with our commitment to compliance and responsible gaming. This trend enhances the industry’s credibility, attracting both players and investors, which is beneficial for us. Secondly, we’re noticing a rising barrier to entry in existing markets, primarily due to stricter financial obligations like substantial deposit and guarantee requirements. While this creates challenges for smaller operators, it offers an opportunity for well-established companies like Soft2Bet. Our strong financial standing and robust compliance infrastructure position us favorably to meet these new requirements and continue our successful operations. Interestingly, these barriers may lead smaller operators to explore opportunities through white-label deals, a natural outcome of the evolving landscape.
Speaking of Canada, your company is in the process of obtaining a license in Ontario, with possible launching by the end of the year. What are your expectations for this expansion, and what will this achievement represent for Soft2Bet?
Our expansion into Ontario is a strategic move that aligns with Soft2Bet’s broader vision of entering promising and regulated markets. We’re optimistic about the potential that the Ontario market holds, given its mature gaming culture and the province’s openness to online gaming platforms. Obtaining a license in Ontario would be a significant milestone for Soft2Bet, marking our first foray into the North American market. It would not only diversify our geographical footprint, but also validate our capabilities in meeting diverse regulatory requirements. This achievement would be a testament to the hard work and collaboration of our legal, compliance, and technical teams, who have been instrumental in navigating the complexities of international regulations. We expect this expansion to provide new opportunities for growth and partnerships, further solidifying Soft2Bet’s reputation as a reliable and responsible operator in the global gaming industry.
With a state-by-state regulatory structure, the United States market poses different challenges. Even so, what value do you bring to this territory to consider entering there in the future? In this regard, Soft2Bet will participate as an exhibitor at G2E Las Vegas. Which will be the main goals in your personal work agenda for this traditional and relevant fair?
Soft2Bet’s attendance at G2E Las Vegas (stand #5424) is a strategic initiative in line with our larger aims for global expansion. The event not only offers us a stage to display our products and affirm our commitment to responsible gaming, but it also gives us valuable insights into emerging trends and regulations, especially in the North American market. In terms of our specific goals for the event, we aim to network and build relationships with potential partners, investors, and other key stakeholders, which is critical for our market expansion. Additionally, G2E is an invaluable source for collecting firsthand market intelligence that shapes our strategic plans. The event also enhances our brand’s visibility and credibility on a global scale, which is essential for breaking into new markets and attracting investment. Finally, the discussions and interactions we’ll have with regulators and industry experts will offer useful insights into compliance requirements and best practices across varying regulatory landscapes. In sum, our presence at G2E Las Vegas will serve as a stepping stone for Soft2Bet’s potential entry into the U.S. market, allowing us to gauge the landscape and make informed decisions for our future progress.
Focusing on LatAm and the opportunities offered by countries such as Brazil, Argentina, Colombia, Mexico and Peru, how do you see the current situation of iGaming in this region? On what issues should LatAm imitate Europe when it comes to talking about responsible gaming, and collaboration between regulators, operators and gambling associations?
The Latin American market is showing great promise, with countries like Brazil, Argentina, Colombia, Mexico, and Peru emerging as potential hotspots for iGaming. The region is in a transitional phase, with several countries working on establishing or refining their regulatory frameworks. This presents an exciting opportunity for companies like Soft2Bet to enter markets that are ripe for growth. When it comes to responsible gaming and regulatory collaboration, LatAm can draw valuable lessons from the European model. Europe has set a strong precedent in establishing transparent and stringent regulations that prioritize consumer protection. Collaboration between regulators, operators, and gambling associations is key to creating a sustainable and responsible gaming environment. In particular, Europe’s focus on consumer protection, exemplified through self-exclusion lists, age verification, and other responsible gaming measures, could serve as a blueprint for LatAm countries. Additionally, the European model of regulatory collaboration, where regulators work closely with operators to ensure compliance, could be highly beneficial for LatAm, fostering a more transparent and accountable industry. Lastly, adopting European standards for game fairness, data protection, and advertising can significantly elevate the credibility of the LatAm iGaming market. By integrating some of these European practices, LatAm can build a more robust and responsible iGaming ecosystem, favoring both operators and consumers.
After the launch of the City Builder Gamification solution, a revolutionary tool with its gamification technology that combines casual games with an online casino, what other products is your company designing to continue optimizing players’ experience and operators’ revenue?
Our primary focus is motivational engineering innovations, and the City Builder Gamification became a great example of how these engaging mechanics could improve business results. The iGaming market is highly competitive, but there is some boring and outdated stuff. Soft2Bet strives to change it, offering a robust and game-changing motivational tool. We will definitely continue enhancing Soft2Bet’s gamification portfolio, providing unique motivational mechanics on the edge of casual gaming, card games, and betting best practices.