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Soft2Bet has announced plans to expand into the US market with the launch of a new iGaming brand in New Jersey, expected to go live before the end of the year.
This move will mark the company’s first entry into the United States and will be another significant milestone following continued success across multiple Latin American and European markets.
To support its launch, Soft2Bet has partnered with Caesars Entertainment, one of the largest casino operators in the U.S. This collaboration not only secures market access for Soft2Bet but also ensures compliance with New Jersey’s stringent gambling regulations. Additionally, Caesars will assist in implementing responsible gambling initiatives, reinforcing a commitment to player safety and integrity.
“As a global company with a proven history of success and innovation, our plans to launch in the U.S. is monumental for Soft2Bet and our continued growth,” said Uri Poliavich, Founder and CEO of Soft2Bet.
“We are set to redefine gamification here in the US and ultimately provide players with an incredible gaming experience with the debut of a new and transformative iGaming brand this summer.”
Soft2Bet Customizes U.S Strategy for Impactful Market Entry
As Soft2Bet prepares to launch its iGaming brand in New Jersey, the company emphasizes a tailored approach to meet local preferences. Speaking to Next.io, the company’s General Counsel David Yatom highlighted the importance of customization, stating, “We won’t just duplicate what we’ve done elsewhere. Each market requires a different approach.”
With a focus on adapting game offerings, bonuses, and user experiences, Soft2Bet aims to stand out in a competitive landscape dominated by industry giants. Yatom noted that the company’s agile technology and strategic market entry will set it apart.
“We’ve seen companies enter multiple states too quickly, spreading their resources thin and ultimately failing,” Yatom said. “We’re taking a different approach, establishing ourselves in New Jersey first, proving our technology works, and then expanding strategically.”
Plans for Sweepstakes Gaming
As scrutiny around sweepstakes gaming intensifies in the U.S., with a recent bill introduced in New Jersey aiming to outlaw sweepstakes casinos, Soft2Bet is carefully weighing its options. While the potential for profit in the sweepstakes model is significant, Yatom cautions against hasty entry, stating, “There’s a lot of money on the table with sweepstakes, but also significant risks.”
With New Jersey positioned as Soft2Bet’s entry point into the US market, the company has opted to remain on the sidelines for now as regards sweepstakes casinos. However, Yatom did emphasize the firm’s commitment to innovation, noting, “If there’s more competition in the market, it creates a more interesting environment for players. We believe in fostering innovation, even if we’re not directly participating in every trend.”
Soft2Bet Continues to Grow
The US market entry announcement is just another chapter in Soft2Bet’s impressive growth story. Last month, the company marked its entry into the African market by partnering with renowned Nigerian media organization Channels Media Group.
It also launched ElaBet.gr in Greece this March, following the acquisition of a local gaming license, and this comes on the heels of securing a local gaming license in Spain, further solidifying its European presence. The company boasts 16 global licenses, including approvals in Mexico, Sweden, Romania, Italy, Ontario, Malta, Spain, Ireland, and Denmark, and also offers an impressive portfolio of over 12,500 games.
Softbet also recently enhanced its platforms with the integration of its proprietary Motivational Engineering Gaming Application (MEGA). This innovative tool has proven effective in boosting player engagement and retention, with reports indicating a staggering 400% increase in screen time and a 65% rise in net gaming revenue for operators using the system.
The company has yet to reveal specifics about the branding or features of its upcoming New Jersey platform, but important updates are expected in the coming months. If Soft2Bet successfully establishes itself in New Jersey, it could lead to more products being launched across the country.
Source: Next.io
