Soft2Bet Our competitors are Netflix and TikTok
Fresh from hosting a G2E session ‘iGaming: The Road to Legalisation in the US’ in Las Vegas, Martin Collins, Chief Business Development Officer of Soft2Bet, sat down with G3 to expand on the topic.
Soft2Bet is launching into the B2C market in New Jersey in Q1-Q2 2025. Is the current kill rate of operators in the US at all daunting?
We see the exit of many US operators as an opportunity. What one might see as impossible, we see as an ability to really achieve something special. Soft2Bet is primarily a UI/UX business; we focus on the customer experience. If you look at any of our B2C offerings, we build experiences for our customers that are very different from what is traditionally offered in the industry. Te US will be no different. We are creating the most unique UI/UX the industry has ever seen. We are going to stand out and think that’s the only way to do it.
Was first-mover not an advantage in the US sports betting market?
To that question, I’d ask you to name an industry where being the first-mover guaranteed a sustainable long-term advantage. In the online gambling industry, users are constantly seeking new and innovative experiences. We’ve seen similar patterns in other sectors as well, such as with search engines: Lycos, Magellan, Altavista — all early frontrunners, but Google ultimately dominated. In fact, while first-movers may have an initial edge, operators and providers entering the market later often have the opportunity to learn from their predecessors’ mistakes. Tey can adapt more quickly to what the market is really seeking, improving on areas that first-movers may have overlooked.
Over the long term, newer entrants often refine the product and service offering, ensuring that the initial advantage fades away.
Has the European model failed in the US?
Well, it depends entirely on what player you are on the market. Te assumption was that with the European solutions and approach being more mature, they would provide suitable experiences for US players.
FanDuel and DraftKings also had critical mass in the US as they'd been doing Daily Fantasy Sport for years. Tey'd built up a player base, and perhaps more importantly, brand equity. Tey also have a large ability and willingness to invest in each State and utilise all of these factors to gain significant market share in the majority of legalised States.
However, if you look at many of the European brands who entered the market they had significantly less local brand equity, zero existing player base and considerably less willingness to invest and gain market share. Coupled with extensive legacy technology primarily built with a European localised focus and monolithic architecture, they were not lean and agile. Moreover, their infrastructure costs were much more expensive, again driving down their margin in already very competitive market conditions.
69
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142
