From its beginnings in the B2C sector, Soft2Bet hasquickly made inroads as it expanded into the B2B market. CEO Boris Chaikinexplained why the company diversified and what sets it apart from itscompetitors.
Soft2Bet began as a B2C-facing company, what steeredit towards the B2B sector?
Boris Chaikin (BC): B2B is a naturalextension of our ambitions in the sector. It is something that we’ve had oureye on for some time. Our product and team have now reached a stage at which wefeel we have something to offer as a supplier. I’ve personally had over adecade in the B2B sector and was thrilled when the opportunity arose to branchout. B2B is a very different entity, and no matter how swift the move, newmarkets come with their own challenges. Soft2Bet’s growth has been rapid andone of the major benefits of it is that we have learned to weather challengesand even use them as opportunities for the development of new ideas. Theeconomies of scale and opportunities of entering any new market are bothchallenging and rewarding. It’s the balancing act that makes this industry sointeresting.
How do you plan to incorporate your B2C experienceinto your new business model?
BC: Ibelieve that it’s very important to have a deep understand your clients, notjust in betting and gaming but in any business. Our B2C experience givesus a head-start and allows us to offer B2B services that we know will beeffective and commercially successful. Soft2Bet acquired awealth of experience in the B2C sector and the knowledge we developed has leftus in the enviable position. We can now use that knowledge to develop solutionsthat those who have only been involved in B2B may never even consider. Thetransition was a logical move with the development of our in-house platform andpopular brands such as Wazamba.com, Nomini.com and the newly releasedRabona.com becoming something operators wanted to use.
What sets Soft2Bets casino and sportsbook brandsapart from its competitors?
BC: We build top quality online entertainment websites from scratch. Thesites all have unique designs and concepts and are not just re-purposedtemplates. Our casino and live sport offering are expanding month by month,keeping our brands fresh for all our customers. While some companies may havebeen around longer, our individuality and consistent development of newproducts has led us to the forefront of the sector. We now have more than 250 ofthe brightest and most talented employees helping design and launch numeroussuccessful products, with thousands of games now available on our sites. Ourethic has always been that we would bring a unique approach to markets andproducts. Take our latest brand, Rabona. Its unique in-built gamification makesit a game changer for sports fans. By placing bets, players earn pointsallowing them to collect cards with football players and teams which they canexchange to unlock exciting bonuses. Our analysis has shown that merginggamification with sports betting is very popular with players - increasing boththeir engagement and brand loyalty.
With the company expanding rapidly in its four years,on which markets will it be focussing in 2020?
BC: The next couple of years will all be about regulation for us. We’reactively working on getting a range of additional local online gaming licenseswhich will give us stability and maintain our and independence. I’vealways looked at regulation as a positive way to develop business rather than achore or necessary evil. In sectors with high risks, such as finance andgambling, a robust licensing framework lets companies know exactly where theyar and what’s required entering regulated jurisdictions. There are no greyareas. It gives a structure that’s invaluable and cuts down on the risk of anynasty surprises arising.
What does Soft2Bet have in store for ICE?
BC: This will be our firstICE stand dedicated to our B2B market entry and we’re looking forward to welcomingexisting and future partners on Stand N9-524. We’re exhibiting ourstate-of-the-art B2B product range, which includes a highly advanced casino andsportsbook platform, multi-currency payment systems, and multi-lingual titlesfrom the world’s top gambling providers alongside expert affiliate marketingand design teams.