"Soft2Bet's MEGA gamification solution has the potential to revolutionize the U.S. iGaming landscape"

Last month, the SBC Summit North America gathered stakeholders in the U.S. and Canada online betting and gaming industry for three days of networking at the Meadowlands Expo Center in New Jersey. Among the companies attending the summit, which ran from May 7 to 9, was online casino company Soft2Bet, which took the opportunity to display its Motivational Engineering Gaming Application (MEGA).

Soft2Bet's participation at SBC North America came at a turning point for the firm, which is actively exploring expansion in the U.S. and Canada. For that reason, Yogonet held an exclusive interview with Chief Business Development Officer (CBDO) Martin Collins to learn more about Soft2Bet's roadmap for the region, and how local operators can benefit from the company's expertise in gamification and customer engagement.

The company participated at the SBC Summit North America, where you gave a keynote presentation. What are some of the major points that attendees were able to learn from this session?

At the SBC Summit North America, my keynote centered on crucial strategies to enhance engagement and ROI for iGaming and sports betting brands. Attendees learned that in an overcrowded market, it is challenging to stand out without effective approaches to player engagement and retention.

We discussed how tight regulations have increased the costs associated with bonuses and promotions, making it imperative for operators to find sustainable methods to attract and retain customers.

Improving the customer experience through gamification, compelling narratives, and high-quality content was another major point. This approach brings the industry closer to casual gaming, creating a more enjoyable experience that encourages players to return.

We also examined a trend prevalent in other industries: using gamification to enhance user engagement. Applying this to iGaming can significantly increase customer lifetime value (CLTV) and ROI, making it a vital strategy for operators in today's market.

Soft2Bet at the SBC Summit North America

Can these gamified experiences help operators avoid unsustainable acquisition strategies that do not generate customer loyalty?

At Soft2Bet, we believe that personalized gamified experiences are key to reducing costs and increasing profitability, especially in tightly regulated markets. If operators compete solely on cost through promotions and bonuses, they enter a race to the bottom. This approach creates a purely transactional relationship with customers, who only engage with the brand when they receive something in return.

However, by offering personalized experiences tailored to individual preferences, operators can create a more engaged and sustainable relationship with their customers. This strategy ensures that customers return to the site because they genuinely enjoy the experience, rather than being incentivized by promotions.

As a result, all key metrics, including customer loyalty and retention, see significant improvements. This approach helps operators avoid unsustainable acquisition strategies and build long-term, profitable relationships with their customers.

SBC presented a major opportunity for Soft2Bet to discuss its launch in North America. What are your main takeaways from the company's participation at the expo?

Our participation in the SBC Summit North America was crucial as we navigate the complexities of the U.S. market, where we have submitted applications for both operating and supplier licenses in New Jersey.

One of the main takeaways is the recognition of the U.S. as a highly complex and multifaceted jurisdiction, akin to 50 individual markets rather than a single unified entity. Each state has its own regulatory landscape, necessitating tailored strategies for each market.

The expo provided invaluable opportunities to engage with industry experts, gain insights into current trends and sentiments, and refine our strategic plans. These interactions are vital for bulletproofing our strategies and ensuring our plans are aligned with market expectations and regulatory requirements.

This experience is instrumental in shaping Soft2Bet's approach to successfully entering and thriving in the North American market.

Soft2Bet has plans to introduce its MEGA gamification solution to the North American market. In which ways could MEGA change the region's iGaming landscape?

Soft2Bet's MEGA gamification solution has the potential to revolutionize the U.S. iGaming landscape by addressing several key challenges.

The high costs of market entry, third-party fees, and aggressive promotional strategies are eroding margins for operators. MEGA mitigates these issues by reducing reliance on costly bonuses and promotions, instead focusing on personalized and gamified experiences that enhance player engagement.

This approach attracts new audiences and fosters higher retention rates, making promotions and bonuses less critical. The solution's customization and localization features allow operators to tailor experiences to specific market needs, increasing relevance and appeal to local players.

Operators are particularly interested in leveraging MEGA because it offers a sustainable way to improve engagement and profitability, providing a higher return on investment from their marketing spend. By utilizing extensive data points and delivering highly personalized content, MEGA can significantly enhance player engagement and drive long-term success for operators.

While sports betting is now live in a majority of US states, online gaming is only available in a handful of jurisdictions. What's your take on how the US market is evolving, and the opportunities it offers for Soft2Bet? 

The U.S. market for iGaming is evolving more slowly compared to sports betting, which is now live in the majority of states. This slower pace is largely due to the varied regulatory environments across states. However, we believe that as states look for additional revenue streams, the adoption of iCasino regulations will increase. The industry needs to unite and lobby collectively for faster regulatory changes, as a unified approach can drive more significant progress than individual efforts.

For Soft2Bet, the U.S. market represents a long-term opportunity. We plan to leverage our proven B2C success to offer valuable B2B solutions, providing tested and reliable products that can deliver significant value. Specifically, in New Jersey, we are making good progress with the licensing process and aim to be operational by the first quarter of 2025. This strategic entry will allow us to establish a strong presence and build on our successes to expand further in the U.S. market.

Soft2Bet is also eyeing a launch in Ontario, where the company is looking to go live with its Tooniebet.com iGaming brand. What can you tell us about this expansion into Canada's largest province?

Soft2Bet's expansion into Ontario with the launch of Tooniebet.com marks a significant step in our North American growth strategy. If Ontario were a U.S. state, it would be the fifth largest, with a strong propensity for gambling, especially in the retail sector.

Since its regulatory framework is relatively considerate and offers a low barrier to entry, Ontario provides an ideal environment to launch and establish a presence. The market has shown consistent quarter-on-quarter growth since it launched a few years ago, making it an attractive prospect.

Our expansion into Ontario not only allows us to tap into this lucrative market but also provides valuable data and insights that will inform our broader North American strategy. By leveraging the data and experiences gained in Ontario, we can enhance our B2B offerings and deliver significant value to our customers.

This expansion is a key part of our strategy to establish a strong foothold in the North American market and drive long-term success.