From its beginnings in the B2C sector, Soft2Bet has quickly made inroads as it expanded into the B2B market. CEO Boris Chaikin explained why the company diversified and what sets it apart from its competitors.
CasinoBeats: Soft2Bet began as a B2C-facing company, what steered it towards the B2B sector?
Boris Chaikin: B2B is a natural extension of our ambitions in the sector. It is something that we’ve had our eye on for some time. Our product and team have now reached a stage at which we feel we have something to offer as a supplier. I’ve personally had over a decade in the B2B sector and was thrilled when the opportunity arose to branch out.
B2B is a very different entity, and no matter how swift the move, new markets come with their own challenges. Soft2Bet’s growth has been rapid and one of the major benefits of it is that we have learned to weather challenges and even use them as opportunities for the development of new ideas. The economies of scale and opportunities of entering any new market are both challenging and rewarding. It’s the balancing act that makes this industry so interesting.
CB: How do you plan to incorporate your B2C experience into your new business model?
BC: I believe that it’s very important to have a deep understand your clients, not just in betting and gaming but in any business. Our B2C experience gives us a head-start and allows us to offer B2B services that we know will be effective and commercially successful. Soft2Bet acquired a wealth of experience in the B2C sector and the knowledge we developed has left us in the enviable position.
We can now use that knowledge to develop solutions that those who have only been involved in B2B may never even consider. The transition was a logical move with the development of our in-house platform and popular brands such as Wazamba.com, Nomini.com and the newly released Rabona.com becoming something operators wanted to use.
CB: What sets Soft2Bet’s casino and sportsbook brands apart from its competitors?
BC: We build top quality online entertainment websites from scratch. The sites all have unique designs and concepts and are not just re-purposed templates. Our casino and live sport offering are expanding month by month, keeping our brands fresh for all our customers. While some companies may have been around longer, our individuality and consistent development of new products has led us to the forefront of the sector.
We now have more than 250 of the brightest and most talented employees helping design and launch numerous successful products, with thousands of games now available on our sites. Our ethic has always been that we would bring a unique approach to markets and products. Take our latest brand, Rabona.
Its unique in-built gamification makes it a game changer for sports fans. By placing bets, players earn points allowing them to collect cards with football players and teams which they can exchange to unlock exciting bonuses. Our analysis has shown that merging gamification with sports betting is very popular with players – increasing both their engagement and brand loyalty.
CB: With the company expanding rapidly in its four years, on which markets will it be focusing in 2020?
BC: The next couple of years will all be about regulation for us. We’re actively working on getting a range of additional local online gaming licenses which will give us stability and maintain our and independence. I’ve always looked at regulation as a positive way to develop business rather than a chore or necessary evil.
In sectors with high risks, such as finance and gambling, a robust licensing framework lets companies know exactly where they at and what’s required entering regulated jurisdictions. There are no grey areas. It gives a structure that’s invaluable and cuts down on the risk of any nasty surprises arising.
CB: What does Soft2Bet have in store for ICE?
BC: This will be our first ICE stand dedicated to our B2B market entry and we’re looking forward to welcoming existing and future partners on Stand N9-524. We’re exhibiting our state-of-the-art B2B product range, which includes a highly advanced casino and sportsbook platform, multi-currency payment systems, and multi-lingual titles from the world’s top gambling providers alongside expert affiliate marketing and design teams.