David Yatom Hay, General Counsel for Soft2Bet, has spoken to iGaming Expert about navigating the complexities when it comes to entering a new market either as an operator or a supplier.
Soft2Bet is building off a year in 2024 in which the group has launched in several markets, including Romania, Mexico and the Canadian province of Ontario, with plans to launch in the US state of New Jersey before the end of the first quarter in 2025.
When asked about the licensing process globally, Yatom Hay noted that licensing in Europe is “a bit more tighter right now” as regulators are “pushing towards increased licence fees”.
“Picking those specific markets is becoming a very complex task. We look into the profitability of the market, understanding if we, as an operator and as a supplier, are capable of operating within those territories successfully.
“We look into the marketing restrictions, we look into the bonusing, we look into the player value in those territories and then understand if it’s a viable market.”
Regarding the approach in different markets and the compliance required for entry, Yatom Hay said that Soft2Bet holds discussions with regulators and examines each market carefully to determine what changes would be needed for their platforms to operate in those markets.
He said that the company’s platform is “very adjustable”, so they can easily adapt to each market.
“The most important thing is understanding how the relationship with the regulator would work, and what the marketing approach would be. What partners would be interested in acquiring our technology in that market is also very important for us,” he added.
Looking into 2025, Yatom Hay stated that Soft2Bet is excited about entering The Garden State and bringing the company’s technology to the market. Markets in South America are also being examined, such as Brazil.
On New Jersey, he said: “We want to bring something new and interesting into the market, something innovative, something that will change the environment of gameplay within the US and hopefully will elevate us for other territories in the US as we go along.
“We’re looking at South America as well and other territories, but the focus right now is New Jersey and then we’ll see where we take off from there.”
In terms of markets to look out for that could be interesting for the industry, Yatom Hay is intrigued to see how different markets in Africa develop, as well as a couple of markets in Europe that are undergoing regulatory changes, such as Finland and Ireland.
