Soft2Bet Targets ‘Some Sort Of Market Share’ As It Eyes NJ Sports Betting

Written By Dan Holmes on October 31, 2023 - Last Updated on November 3, 2023
Busnissman next to Soft2Bet logo circles New Jersey, which is the expansion target for the sports betting operator Soft2Bet

Sportsbook platform operator Soft2Bet is well-known in Europe, and now that their sights are set on the North American market.

It’s going to begin in the world of New Jersey sports betting.

The gaming operator, based in Cyprus, is targeting the US market – which still has several large states without legal sports betting and more than 40 without online casinos.

Why is Soft2Bet expanding to NJ sports betting?

The sophistication and maturation of the New Jersey betting market, as well as the excellent leadership provided by the state’s Division of Gaming Enforcement (DGE), are cited as reasons that Soft2Bet plans to debut in the Garden State.

Bringing something unique to the US betting market is the goal for Soft2Bet.

“We show something that is different,” David Yatom Hay , general counsel for Soft2Bet, said in an interview with SBC Americas from the Global Gaming Expo in Las Vegas earlier this month.

“And how do we do this? We run our own operation. We start in New Jersey. That’s our plan … I want to make sure that we gain market share in New Jersey. I want to show other operators this European provider coming into New Jersey, shining on top of others, taking some sort of market share.”

Soft2Bet not only about sports betting

Among the products and services that Soft2Bet offers is its flagship sports betting platform. But it also boasts a “gamification system” that features a CMS, as well as a payment system and risk assessment tools.

Yet, at the heart of their business is sports betting and casino gaming platforms for mobile apps and websites.

“We’re an operator. That’s what we are first and foremost,” Yatom Hay said in Las Vegas. “We used our operating platform [to demo services at Global Gaming Expo], the one that we use to engage with our players and users on our consumer website or gaming websites so that we can showcase technological capabilities.”

In fact, Soft2Bet could join NJ online casinos

New Jersey is one of a handful of states with legal online casinos. And that also plays into the Soft2Bet strategy as they attempt to gain a foothold in North America.

Following years of experience building and operating sportsbook platforms in Europe, the company has designs on much more “across the pond.”

Sports betting won’t be the only way the company gains market share on this continent. Soft2Bet knows this, and it could explore entering the New Jersey online casino space down the road.

“So we already have the sports,” said Yatom Hay. “There’s some sort of realization of, ‘We already have this, the next step will be online casino’.

“So if you’re here right now, and you’re already establishing something in the US, it will be easier to penetrate other territories when they open up. So I think it’s not a disruption so much as an opportunity.”

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Dan Holmes

Dan Holmes is a contributing writer for PlayNJ. He has written three boooks about sports and previously worked for the National Baseball Hall of Fame as well as Major League Baseball. An avid writer, runner and enjoyer of lemon bars, Dan lives near Lake Michigan with his daughters and, oftentimes, a nearby orange cream soda.

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