Expansion for Soft2Bet has been one of rapid growth. In just three years the company has grown into a well-established operator looking to new markets. CasinoBeats spoke to CEO Boris Chaikin about where the company has been, where it is now and where it plans to go.
CasinoBeats: A lot has changed for Soft2Bet since its creation just three years ago. Could you tell us a bit about the company’s history?
Boris Chaikin: Soft2Bet has certainly come a long way in a very short space of time. We’ve worked tremendously hard to develop our reputation as a well-respected operator group, with a global influence in multiple regulations. In just three years, we have grown from one small office and a team of 5-6 people, to offices in four countries and over 250 staff today.
Originally growing our success in the B2C market, where we are still focused, we have now diversified with the aim of taking the knowledge garnered from our swift growth in the sector to turn Soft2Bet into one of the most solid and trusted names in online gambling space, both by consumers and B2B clients.
“Keeping customers excited with regular content updates is paramount to retaining them”
CB: Would it possible to give us more insight into the casino products you offer?
BC: We have developed and successfully introduced over 10 successful projects with 1,000+ casino games and tens of payment options seamlessly integrated into our websites. Our platform is designed with the most innovative game technology and we are adding new projects, games and functionality every month to both our casino and live sport offering.
Our rapid expansion has taught us that keeping customers excited with regular content updates is paramount to retaining them and attracting new ones as we enter different markets.
The Soft2Bet team boasts some of the sharpest minds in the industry, all of whom are passionate about the idea of creating a top-quality product for the ultimate gambling experience.
CB: You mention entering new markets – which do think are currently the most exciting?
BC: Europe is still our main area of focus, and it’s still evolving, especially in terms of regulation, so it will remain our focus for the next few years. Regulations across the continent are still in a constant flux with regulators still adapting to the market.
The regulatory changes across jurisdictions are so dynamic that companies need to keep up date with new and ever-changing requirements, or occasionally completely new licensing regimes.
With more countries regulating and competition intensifying, operators are under more pressure than ever to secure an advantage. Companies should be able to adapt deftly and swiftly, meaning the evolution of regulation, compliance and the industry as a whole, should be welcomed as an opportunity to flourish.
“The economies of scale and opportunities of entering any new markets are always going to be a balancing act”
With our expansion into vibrant new markets we learned that agility is king and adapting quickly to changes is key to staying ahead of the curve. By the end of 2020 we plan to hold more than 5 licenses.
Still, we have our eyes set on the exciting emerging Asian and LatAm markets, where its most likely we will have the most success via B2B deals. Just witness how the industry has changed in Asia over the last three years, or how many eyes there are currently on Latin America and Africa’s patchwork array of igaming possibilities.
The economies of scale and opportunities of entering any new markets are always going to be a balancing act. One of the benefits of Soft2Bet’s rapid growth is the development of a malleability that has helped turn obstacles into opportunities – a transferable and precious attribute in any business scenario.