On SiGMA TV's Executive Series, Soft2Bet CEO Boris Chaikin discusses the brand's diversification into B2B and white label solutions, and taking their business beyond Europe
SiGMA TV catches up with Soft2Bet CEO Boris Chaikin for an exclusive interview on the Executive Series. Ever since it burst onto the iGaming scene almost five years ago, Soft2Bet has been enjoying a meteoric rise that not even a global pandemic could halt. With more offices opening across Europe and a strong strategy of diversification, the organisation is a textbook story of success.
In just a short amount of time, Soft2Bet have shaken up their traditional services through diversification, embracing B2B verticals and white label solutions. While a shift from what the audience usually expects from the company, the CEO has deemed Soft2Bet's expansion from B2C to B2B verticals a "logical expansion".
The CEO shared the importance of adopting a diversification strategy in today's iGaming landscape.
The strategy comes from our philosophy and understanding that, practically speaking, we should not keep all of our eggs in one basket.
Chaikin states that this, coupled with his previous experience in B2B, launched the company into B2B verticals. He contends "This gave us access to new markets where we had not had an opportunity to step in so far". The CEO adds that this move "brings well to the bottom line as well".
When asked about the possibility of embracing a white label product could cannibalise in-house brands, Chaikin negated this claim deeming the move a "calculated step".
There's always an element of risk there, but if you look at it from another angle - there's so much competition out there which is good because in competition we thrive. So in the long-term, no I'm not worried.
He further explains: "As I said, we're careful in selecting our B2B partners, to the people in companies who can offer us an opportunity to enter in to new markets or get us in to new marketing channels and new audiences".
The CEO also said that Soft2Bet's new office in Lisbon is a preparatory move to expand into Latin America - and hopefully globally too.
Speaking on the move, Chaikin shared "We're starting to test the waters in different Spanish-speaking Latin American countries and Lisbon is a nice location for that". He adds that the "sky's the limit' as Soft2Bet embarks on a mission to expand its global footprint beyond Europe and into other jurisdictions:
We are eying Latin America, we are also looking into Asia, we've made our first baby steps in Japan and [sic] looking into other countries as well.
WATCH the full interview below:
SiGMA Roadshow: Next stop Germany
Join us virtually for two engaging hours bursting with insightful conference con-tent and new business opportunities. These unique, interactive, virtual mini-conferences will take place in a different country every month. Next stop is Germany, join the conversation. We'll be covering various topics from localisation of content to regulation trends. Register now!