One of the most innovative companies in the gaming industry is, without a doubt, Sof2Bet. The company is present in the Italian market with a B2C license for the distribution of online gaming and with an intense network of B2B collaborations. On the company website we read: “We are here to make the iGaming industry respectable and responsible”. This is exactly what the Italian legislator, operators and players want. Also for this reason, on the occasion of the project to reorganize online games, we interviewed Ohad Straschnov, Senior Director of Compliance at Soft2Bet.
Soft2Bet recorded significant growth in 2023 and this year aims to pursue the same strategies that proved successful last year. In your programs there is particular attention to gamification, why?
“Our attention algamification has allowed us to maximize all the key parameters that iGaming operators and suppliers focus on in their quest for growth: engaging content, sharing screen time and player activity. In practical real money gaming terms, these KPIs translate into a higher frequency of deposits and revenue per user through greater engagement, which are passed on to profits in the form of an increase in GGR (60% increase)”.
One of your most popular systems on the market is MEGA, how does it work?
"MEGA is the name we have given to our platform and our gamification features: it stands for Motivational Engineering Gaming Application. The reason why MEGA has gained popularity in the industry is that it generates higher revenues through engagement, loyalty and repeat play, rather than promotions, free bets or pure bonuses, which are not conducive to generating encouraging business models.
Our brand data Bethinia in Denmark show that MEGA led to:
- increase in average GGR greater than 60%;
- over 50% of Betinia customers interacted with the features;
- average revenue per user (ARPU) grew by more than 70%.
These numbers are supported by our focus on responsible gambling. It is an integral part of Soft2Bet's business model and demonstrates that it is possible to combine commercial growth with corporate ethics".
Do you think that the gaming offer is better conveyed through dedicated applications for smartphones (APPs) or simply through the browser?
“Digital gaming must be addressed across all channels, both desktop and mobile, and native apps are a must for operators. Gamers expect to have a smooth experience on their mobile devices and apps provide it; we at Soft2Bet have the ability to truly adapt and customize the user interface to improve the experience".
Gamers expect to have a smooth experience on their mobile devices and apps provide it; we at Soft2Bet have the ability to truly adapt and customize the user interface to improve the experience
Of fundamental importance is the management of payments for the operator, do you have specific solutions for these activities on your platform?
“One of the biggest points of friction in iGaming is payments. Provide a poor deposit or withdrawal experience and players will simply go elsewhere to open accounts and play. As a B2B platform we provide more than 200 payment methods seamlessly to our partners and their players. It's important to remember that payments are in many ways the lifeblood of the industry, then providing a complete range that is efficient, fast and frictionless is key and it's something we're very proud of."
In Italy there are many operators that offer remote gaming, what do you propose for the Italian B2B market?
"As mentioned, our gamification features are unique and generate sustainable revenue for our partners. They are also key differentiators, allowing our B2B customers to promote and attract players with truly innovative and engaging products that they won't find on other websites.”
What are the national markets in which Soft2Bet is present directly or with other brands?
“We are currently regulated and active in Sweden, Denmark, Italy, Romania, Greece and have corporate bases in Cyprus and Malta.”
Which markets do you plan to cover in the near future?
“We are licensing in Portugal, Ontario and New Jersey and have begun a process to launch our offering in Mexico. We are fully committed to expanding our regulatory footprint into as many approved regions as possible.”
This year Italy is ready to approve radical reforms on gambling, as established in the gaming reorganization decree. The new legislation provides for the payment of a one-off fee of seven million euros for each concession. Do you think this commitment to obtain an Italian concession is sustainable?
“The first obvious point to make is that this is a substantial commitment and something that Soft2Bet, as an iGaming company licensed in Italy, will carefully evaluate every step of the way.
Since our license is valid until December 2024, our intention is to apply and prepare for the new licensing tender once published, and by that time we will evaluate potential partnerships in this market. But we will also be watching carefully how the reforms take shape and the impact they will have on us as a licensed iGaming company.
There are similar regulatory initiatives in other EU jurisdictions, such as Romania, and we are currently facing changes in local regulations that are impacting the industry on whether it is worth operating in certain markets. It is not certain that such changes will apply in Italy, but they seem likely. In any case, our goal is always to ensure that the regulations of each market in which we operate are optimal."
Among the commitments to which the Italian concessionaire must respond is the obligation to adopt actions and measures to combat pathological gambling. Does Soft2Bet have and provide suitable solutions for this purpose?
"Yes, we are fully committed to responsible gambling and integrate tools into all our B2B and B2C offerings to ensure our players are monitored and supported if they require our help. This policy is implemented across all our brands and in every market in which we operate.
The importance and high-profile nature of the topic is such that it is ingrained in our corporate DNA and our work in this area was recently recognized at Casino Guru Awards, where we were selected in the category Better implementation of responsible gaming tools.
Furthermore, as an iGaming company, the best way to operate a sustainable business model is to ensure high levels of socially responsible gambling that monitors and protects our customers and all our partners at both B2B and B2C levels".
the best way to operate a sustainable business model is to ensure high levels of socially responsible gambling that monitors and protects our customers and all our partners at both B2B and B2C levels
