A key component of new market entry for operators and suppliers is a comprehensive understanding of the needs of regulators.

As a result, key considerations must be made prior to entry according to David Yatom Hay, General Counsel for Soft2Bet.

“I see a lot of regulators pushing towards increased licence fees so really picking those specific markets is becoming a very complex task,” Yatom told Joe Streeter, Editor of iGaming Expert.

“We really 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 marketing restrictions, bonusing and player value in those territories and understand if it’s a viable market.

“We really look into each market that we go into very carefully and understand what sort of changes we need to make to a platform in order to operate in those territories. Luckily for us, our platform is very adjustable so we find it easy when it comes to penetrating those markets.”

Even once embedded in a market, operators and suppliers also have to contend with the possibility of ever-changing political landscapes and decisions made beyond the scope of regulators.

Reflecting on how to deal with this possibility, Yatom emphasised the collective need for operators and regulators to work together to educate the government on the positives of the gaming industry.

He said: “The regulator has a certain perspective that in some cases matches the operator. They understand the requirements of the market, they understand what is required to make successful operators within the market and sometimes it takes a joint effort to try to convince the political side of things why [gaming] is good for the state.

“Gambling is not necessarily bad. It has a bad name to it but ultimately it’s fun and when you keep it fun, and make sure that politicians understand that it’s fun, then it’s a good source of revenue. It can support other industries and I think it’s a crucial element that both the industry and regulators explain this to the political powers.”

MEGA Solution

Elsewhere during the interview, Yatom also spoke about the success of Soft2Bet’s Motivational Engineering Gaming Application (MEGA) solution and the company’s ambition to take it to the US as part of its market entry in New Jersey.

“It’s an amazing product that enhances [gross gaming revenues] and reduces cost,” explained Yatom. “It creates a commitment towards the player and I think it’s one of the most innovative products in the industry right now.”

He added that the solution also aids Soft2Bet’s emphasis on responsible gaming as the gamification mechanics of MEGA “supports fun in games as opposed to compulsive gambling or addictive behaviour”.

To hear more about navigating the complexities of market entry and MEGA, as well as find out which market Yatom believes is “neglected”, click HERE to watch the full video.