Interviews
Exclusive Q&A with Lars Kollind, Head of Business Development at iSoftBet
We present here an insightful interview Lars Kollind, Head of Business Development at iSoftBet.
He talks here about his career, his role in iSoftBet, the expansion plans and the impressive content that the company offers. He particularly emphasizes on the aspects that iSoftBet focuses on before entering a new market. He also describes the variety and quality of games content at the company possesses.
Here we go!
Q. Let’s start with a brief intro about yourself. Tell us about your career and interests. Our readers would love to hear that.
A. Hi! I’m Lars Kollind, Head of Business Development at iSoftBet. In my role, I work closely with our commercial and marketing teams to build and strengthen internal and external relationships, further develop sales. I leverage customer needs & insights to implement strategies that increase revenue – always on the hunt for new business opportunities, including entering new markets.
At iSoftBet, all our activities tie into our corporate values of curiosity, respect and passion as we look to bring amazing gaming experiences to players in regulated markets all over the globe.
I have spent more than a decade in senior commercial, sales and marketing roles within the gaming sector for some of the industry’s largest suppliers.
Q. You joined iSoftBet in November 2020. How has been the journey so far? Could you describe some landmarks?
A. It’s been a period of tremendous growth, both for me as an individual and for the company. I can say that I adapted easily, thanks to the very welcoming and involved team at iSoftBet. As for highlights, my most important success has been the introduction to Latin America. Another important landmark would be iSoftBet’s content going live with Jokerstar in Germany. We have a lot more in the pipeline, and I’m excited to see how we will progress in this sense.
Q. Tell us more about your partnership with Jokerstar in the German market.
A. The German market offers some very interesting opportunities and we’ve worked hard from a regulatory standpoint to be able to bring real value to operators there.
Jokerstar gives us a platform to reach German players in what is still a market that is in the process of finding its feet, and we are eager to see what we can achieve. It is a third-generation casino operator with more than 165 gambling halls in Germany, over 1000 employees and a whopping 200.000 customers each year, now testing the waters in the online environment.
The partnership allows us to reach a wide audience and we’re more than excited to see how our games will perform with Jokerstar.
Q. There have been recent news reports about iSoftBet’s expansion plans in Latin America as well. What’s the present position and what would be the next steps?
A. It is no secret Latin America is a hugely exciting continent, having an expected GGR of over $2.5bn by 2025 in regulated markets [as per Vixo GamblingCompliance], with so much expectation as more markets embrace frameworks. We’ve grown strongly in the region with a number of key commercial deals, including Dotworkers, Doradobet and Universal Soft in recent months, with plenty more to come.
We’ve recently signed with MeridianBet as well, a partnership that will see our top slots live across Serbia, Montenegro, Bosnia and Herzegovina and Malta, as well as Peru in Latin America. Of course, we look forward to expanding even more in these areas, as well as entering new markets in the coming year.
Q. Now, could you enlighten our readers about your expansion plans?
A. Besides continuing to deliver amazing slots to the iGaming industry, we are also focusing on our aggregation platform. It brings an incredibly diverse array of content to market with impressive velocity, which can be extremely useful to operators in emerging and newly regulated markets.
We pride ourselves on entering regulated markets swiftly and safely, with our methodical, detailed approach seeing us now live in 20 jurisdictions, most recently Greece, with two more countries in the pipeline. We will reveal more in the coming months, but there’s plenty to look forward to.
Q. Let’s shift the focus on to the games and solutions that iSoftBet offers. What makes your company stand out in the reasonably crowded gaming content space?
A. Aggregation is an important aspect of an offering for operators today and we’re dedicated to offering the most dynamic range of games for our partners to truly excel, including exclusive content in certain territories. We offer extensive benefits for both operators and providers in this sense, fostering long-term, mutually beneficial partnerships.
Our aggregation platform allows us to bring unmatched value to our partners. Bringing more than 8,000 games from more than 85 suppliers in the industry to operators via one single integration, our platform makes a huge amount of content available to them, while they can also use our collection of advanced player engagement solutions to enhance gameplay even further.
Both our proprietary games and our aggregation partner’s games can be elevated with our engagement tools – tournaments (iNgame), achievements, free spins, jackpots and cash drops, regulatory widgets, data analysis, with more to be revealed soon.
By combining all these, we’re able to bring a highly impressive collection of content to audiences.
Q. New technologies and innovations come up in a number of verticals related to gaming: Crypto currency, blockchain, machine learning, big data analysis, you name it. Is the rapid emergence of such innovations a challenge or an opportunity for a business developer?
A. Not only do we work in iGaming, but we are a tech company at heart, and keeping our finger on the pulse of developments is vital. Our CTO, Neal Garman, recently released a white paper detailing our seven-year plan, where he outlines the important steps not just iSoftBet, but the industry needs to make to ensure we remain a vibrant entertainment sector.
In such a fast-paced environment, it is no surprise to see more innovation occur and we endeavour to do our best to lead the conversation.
Q. Finally, a question on iSoftBet’s tagline: Serious Fun. That’s really a cool one! How did it come about?
It is all about aligning with our new company ethos. “Serious Fun” comes from us ensuring to deliver our partners and our people fun experiences in a professional way. The talent, creativity, and dedication of our teams make this possible, all while following our mission and vision, and respecting our values.
Our vision is to create amazing gaming experiences and our mission is to deliver high quality products that inspire, innovate and entertain, by always placing our people, partners and the player at the heart of what we do. Our values are Respect, Curiosity, and Passion, representing the core of our company culture.
More and more jurisdictions are introducing licensing for B2B providers in an attempt to boost regulatory oversight and restrict black market activity with Sweden and Denmark recent examples. In this piece, we talk to Greg Ponesse, Chief Revenue Officer at Compliable, about how the increased compliance burden can favour suppliers’ standing in the iGaming ecosystem.
Have you seen a shift in attitudes from suppliers to only provide products in regulated markets?
We have seen that suppliers that have traditionally taken a .com approach are starting to move towards being licensed to secure additional revenue and more customers but also to improve their overall reputation and standing. The perception of brand integrity plays a big part of the decision-making process because some operator partners might be reluctant to work with suppliers if they have a mainly grey-market approach.
In the US, supplier licensing has always been the norm, so where we are seeing attitudes changing is primarily with European suppliers. Although most suppliers might have a few licenses that they need to manage in key markets, they are now better understanding the importance of being seen as fully compliant across the board as regulation changes and operators are looking for trusted partners.
Some of these brands are massive enterprises who are now trying to get a handle on how to manage all their licenses across multiple regions, and we have seen an increased interest in our software to support that.
What has been the driving force for this – regulator pressure or business strategy?
It’s a little bit of both. Regulator pressure is definitely a big one as gambling becomes more ubiquitous and mainstream. It’s the responsibility of the government to provide structure and regulation to ensure safety for consumers and many are starting to realize that suppliers play an equally important role in that as operators. We have recently seen examples of locally licensed suppliers being fined by regulators for offering their products to unlicensed operators, so providers need to be on the ball to ensure their reputation stays intact.
That said, the grey market suppliers up to this point have stayed in grey markets because that’s what was available to them. Now you’re seeing new markets opening up like North America, which has been huge, where all states require suppliers to be licensed. These grey market players that have previously focused on Europe now see that there’s revenue over there to be gained, so they need to pull up their socks and play the game.
As a business strategy, suppliers can only remain in black markets for so long, avoiding paying taxes and declaring revenue. In a competitive marketplace, suppliers can definitely benefit from being more established and having numerous licenses. Operators might be wary to work with companies that don’t take compliance seriously so being able to show that you have X number of licenses and that you have infrastructure in place shows that you’re serious, and that you know what you’re doing. It kind of sets the table for you to have a soft landing and to be able to begin those discussions with potential partners.
A sole focus on regulated markets would suggest a negative impact on profits so what benefits do suppliers see from being licensed?
If the train is only going in one direction, you eventually have to hop on it. Moving away from grey markets will inevitably have a negative impact on profits but you then have to look at where you can find additional revenue. If you are a licensed supplier, it does allow you to work with the big local operators. You have to decide on whether you can make more money as a grey-market supplier or by going into markets being licensed and making the most of what that offers.
Do you expect more jurisdictions will introduce B2B licensing going forward?
Yes, for sure. Gambling is ubiquitous now and governments recognise that it’s a great revenue generator for them and it also helps with ensuring responsible gambling. With licensing, you provide a framework, infrastructure, and environment that is safe, and it ensures that everyone is on a level playing field. That needs to include all different sides of the industry such as operators, suppliers, affiliates etc. If everyone in the ecosystem follows the rules, it will be a better place for all.
What are the big challenges that suppliers face when it comes to licensing in 2024 and beyond?
Your licensing strategy, so basically, where you are going to go get licensed. This process takes time and resources, and you want to make sure you are prepared before you start talking with operators. They will want to know, just like as with any other vendor, if you are licensed as a supplier.
If we use the US as an example, there is no shortage of suppliers that want to partner with the available operators, so you need to know who you want to work with and where, and then you have to make sure you sort those applications properly. That is all about getting the right advice or using software because if you fail the process, you will end up at the back of the queue and your go-to market strategy will be delayed.
What, if any, are the key differences between licensing in the US and regulated markets in Europe and other regions around the world?
For starters, every state in the US acts as if it is its own country and the licensing process is very complex and rigorous. In Europe, it was initially somewhat more relaxed. You got your Malta licence, and that was then good for all countries in Europe. We’re now seeing a bit of backtracking, with more and more countries getting tougher on rules and regulation.
Increased supervision, with regulators having more oversight, means there is no hiding and I think that is what we’re moving towards on a global scale.
I do believe that most suppliers and operators prefer a regulated market because it separates proper companies from the bad ones. If I was a large operator or supplier that invested time and money into licensing and establishing a compliance team, I would feel good about that because there are so many companies that can’t do it. There’s this element of pay to play, so to speak, in order to really maximize your profits in a region.
We sit down with Dee Maher, CEO of La Royale Gaming Investments, to learn more about her recent appointment as CEO and how the company is set to challenge the gaming industry’s conventions.
La Royale Gaming Investments has bold plans to become a true power player and redefine industry standards. Through acquisitions and mergers, it intends to build an “ecosystem” of online and offline companies, covering both B2B and B2C. Its first play is Quanta, a unique content aggregation platform designed to leverage a high volume with a focus on delivering unparalleled value at a fair price, aiming to introduce innovative solutions for both operators and suppliers. To learn more about La Royale and its goals for the coming 12 months, we spoke with recently appointed CEO, Dee Maher.
Tell us more about your journey to being appointed as CEO of La Royale Gaming Investments.
I’ve been working in the global online gambling industry for many years now in roles covering legal and compliance leadership. Over the past 15 years, I have had the privilege to work for some of the biggest organisations in the business including the likes of Genesis Global, Betclic, Vera&John and Evolution Gaming. When I was approached about joining La Royale Gaming Investments as CEO, it was an offer that I couldn’t turn down. Recognising the company’s ambition to forge a transformative path in the gaming sector, I was compelled by the vision to lead change and drive innovation. My decision to accept was driven by a profound commitment to spearhead our mission, leveraging the remarkable talents of our team to redefine industry standards and make a lasting impact.
What are your main responsibilities and where are you looking to progress most?
I have been tasked with supervising the expansion of our investment portfolio by recognising opportunities that are aligned with our online and offline strategies. I am also overseeing the day-to-day running of Quanta, our inaugural venture, which stands out in the crowded marketplace as a game aggregation platform like no other. In terms of where we are looking to make the most progress, we plan to curate a unique ecosystem of innovative offline and online gaming companies through strategic mergers and acquisitions which combined will make La Royale Gaming Investments a real tour-de-force in the sector and one of the top tier companies with interests across both B2B and B2C.
How is La Royale Gaming Investments going to disrupt the industry? Is it taking a different approach?
La Royale Gaming Investments is poised to redefine the gaming industry with a strategy rooted in bold vision and innovation. We have built out the best team to deploy these ambitious plans and achieve our strategic goals. We are well-capitalised and have lined up our first run of acquisitions, starting with Quanta. Our approach focuses on identifying USPs within each business we engage, introducing ground-breaking offerings to the market. With Quanta, that is being the first mass-market game aggregation platform, creating value for both operators and suppliers. This is an industry where many follow the same blueprint, but we know that to pull distance from our competitors, we need to do things a little differently.
I think our biggest point of difference is that we are curating an ecosystem of innovative businesses across all areas of gambling and gaming. This includes both online and offline, and both B2B and B2C. There are not many organisations in the industry that are this broad and diverse so again this is an area where we can really stand out.
You mentioned that Quanta is the first mass-market game aggregation platform. What does it offer operators and suppliers and how is it different to other solutions in the market?
Quanta has been developed so that it can handle the largest possible volume of games from a diverse array of providers and seamlessly integrate with a vast network of operators. Due to this volume, we can offer the best commercial deals to both parties. Our scale, in collaboration with leading studios and casinos, positions us as a frontrunner in content distribution. Furthermore, we are committed to achieving certifications across all significant regulated markets. For operators, this means they can quickly and easily add games to their lobbies and for studios, it means access to the widest distribution network and thanks to our minimum reseller fee structure, we make this access available to all providers from the established titans to the rising stars.
But just to be clear, Quanta transcends the ordinary, offering not just a cost-effective solution but a sophisticated high-performance platform. The platform is state of the art, allowing for seamless integrations for both operators and suppliers while ensuring the highest standards of resilience and performance. The concept is simple – high volume, low cost – but the advanced technology and strategic foresight required to realise this vision set us apart from conventional solutions in the market.
Content provision is highly competitive so what makes you confident that Quanta will be heard above the noise being made by other providers and aggregators?
Our mass market approach is unique and is already helping us to stand out and generate significant interest from both studios and operators. In the current challenging economic landscape, efficiency and cost-effectiveness are paramount for all stakeholders. But our advantageous commission structure is not the only way we are helping here. At present, operators often have many integrations with various aggregators and directly with game providers. This is inefficient and expensive. With Quanta, operators can plug into a single platform and access all the content they need for each market they target allowing them to save significant resources or to deploy these resources elsewhere.
On the subject of the current economic climate. Is now a good time to be building a business based around M&A?
That depends on how you are approaching your M&A activity and whether an organisation is taking on debt. Timing can be crucial here – you just have to look at the likes of 888 to see how a change in the direction of the wind can have a brutal impact on the wider organisation. That said, there are always plenty of opportunities to acquire great businesses, technologies, solutions and so on, and part of my remit as CEO is to spot these and if they align with our wider approach, make a move. I think the 12 months ahead will be incredibly exciting when it comes to M&A, with some truly transformational deals taking place – something that La Royale Gaming Investments intends to be a part of.
The post Changing the game for content aggregation appeared first on European Gaming Industry News.
In an insightful interview with Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, we delve into the complex balance between promoting mainstream sports events and exploring niche markets in the betting world. This strategy enhances profitability and ensures a steady engagement across diverse betting markets, crucial for maintaining a dynamic and resilient business model in the competitive world of sports betting.
How should operators balance promoting popular sports events versus niche ones?
The effective strategy in betting is to diversify wagers across a broad range of sports events and markets. This approach helps minimise fluctuations in outcomes, enhancing both the profitability and predictability of your betting business.
Based on this, we recommend that operators promote all sports comprehensively to maintain steady activity and turnover. This ensures that players remain engaged with alternative options, even during periods lacking major events.
It’s crucial not only to focus on popular events like top football matches or major NBA tournaments but also to spotlight less mainstream sports such as water polo, badminton, and Formula 1. For instance, Australian football is notably underappreciated despite offering unique scheduling advantages that can be leveraged during off-peak times to attract bets.
How can you choose sports that have the best chance of attracting your audience?
To effectively capture your audience’s attention, it’s crucial to identify alternative events during periods when popular events like the Champions League are not happening. Our strategy involves actively promoting these alternatives to familiarise players with new tournaments and sports.
We have two dedicated teams: one that selects potential events and advises operators on what to highlight, while the other crafts promotional campaigns to ensure these events resonate with your audience.
The primary factors we consider when selecting events are Total Bets and the number of bets placed on a specific event or tournament. Popularity is our second criterion, which we measure by comparing the turnover to the number of participating players.
For instance, if there are no football championships over a weekend due to Euro qualifying matches, we might suggest promoting NBA evening games or volleyball tournaments to fill the gap left by high-profile football events.
However, it’s also beneficial to occasionally promote sports other than football, even when popular football matches are available. This strategy helps diversify the betting habits of the audience, which is vital for maintaining a stable and engaging product.
How far in advance do you need to start working on a promotional campaign?
We typically share promotional materials with operators two weeks prior to the event. This timeframe usually provides ample opportunity for operators to finalise the text and graphics. If we opt to use bonuses as the main promotional tool, we generate the rules, bonuses, and banners automatically. It’s then up to the operator to create and either self-publish the content or do so with our assistance.
What promotional channels would you recommend focusing on?
Operators have a variety of tools at their disposal, from email and SMS campaigns to managing their own channels on Telegram and other messaging platforms where they can share updates, offer bonuses, and more. Many even offer additional bonuses for subscribers of these communities, which proves effective in building a targeted and loyal audience interested in your project’s bonuses.
Another effective strategy involves placing promotional banners on various sections of the operator’s website, such as the homepage, event pages, and user dashboards. Additionally, collaborating with influencers like streamers can significantly boost traffic.
It’s also crucial not to overlook the power of email newsletters. When crafting content for these, it’s important to consider user behaviour and device preferences. For instance, with over 90% of our current revenue coming from mobile devices, it’s safe to assume most emails will be opened on a smartphone. Thus, optimising for mobile viewing is key. Our tests show that simple, structured, and transparent offers tend to perform best – you only have a few seconds to capture the player’s attention and persuade them to click through.
Do promotions without financial incentives like bonuses still work?
Let’s be clear: bonuses and promotions are fundamental to attracting players, especially those who rely on luck to multiply their capital. Seen as lucky breaks, bonuses allow participation without direct cost. Properly integrated into the marketing strategy, these incentives not only maintain player interest but significantly enhance financial performance.
For example, if an operator earns 15% from express bets, they can afford to redistribute 5% of that as bonuses, slightly reducing their margin to 10%, but potentially increasing user engagement and solving other operational issues.
Furthermore, promotions enable operators to direct betting activity efficiently. While major events naturally draw attention, incorporating bonuses for lesser-known events like the World Curling Championship can broaden a player’s interest and betting activities, introducing them to new sports and betting markets. This strategy not only diversifies the player’s experience but also stabilises the operator’s financials by spreading funds across various sports, thereby reducing the impact of financial peaks and troughs during major events.
Some operators focus primarily on significant events, leading to considerable financial volatility. For example, many faced challenges during the European Football Championship qualification matches when favourites won, negatively impacting financial outcomes. Operators that engage their audience across a spectrum of events tend to experience more stable performance.
Ultimately, using high-profile events to attract new players while promoting a diverse range of smaller events can create a more robust and diversified betting environment. This approach mitigates risks and cultivates a more engaged and knowledgeable betting community.
How likely is it that a person who came to a particular event will continue engaging with you afterwards? What influence can an operator have during this time?
Welcome packages with various bonuses are highly effective in this scenario. The primary goal is to familiarise new players with the range of bonuses and sports offered. Ideally, the entrance bonus program should provide about 20-30% to engage the player effectively.
Besides the welcome package, we can implement trigger-based rules during major events. For instance, a new player might come for the World Cup, and we could offer a promotion like: “Win three World Cup bets and receive a free bet for Wimbledon.”
Once engaged, they might notice a dominant player like Djokovic and place a bet on tennis, triggering another promotion. For example, we could offer a 50% bonus for making an express bet with specific odds on three tennis events. This showcases our diverse bonus system and introduces new sports gradually.
Furthermore, promoting sports tends to be easier than casinos because there are more events and thus more opportunities to engage players through channels like email newsletters, with less risk of being flagged for spam.
We advise our operators to customise bonuses for specific player demographics – like promoting Brazilian tennis players to Brazilian users or Nigerian athletes to Nigerian users. This targeted approach is significantly more effective than generic offers and resonates even with experienced casino players.
However, it’s crucial for operators to view their offerings holistically; they don’t just have a casino or sports section, but a comprehensive project where every part should function seamlessly together, including promotions and the product’s internal functionality.
The post The Full Spectrum Strategy: How Betting on Both Popular and Lesser-Known Sports Pays Off appeared first on European Gaming Industry News.
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