‘Our real rivals are TikTok and Netflix’ – iGaming firm Soft2Bet sets out strategy for global expansion

As Soft2Bet prepares to launch in the U.S and expand further into Africa and Latin America, its Chief Business Development Officer Martin Collins tells The European why the firm now measures itself against TikTok, not bookmakers, and how personalisation, localisation and AI are shaping the next phase of its growth

The chief business development officer of Soft2Bet has said the company no longer sees other gambling operators as its main competitors and is instead benchmarking itself against leading entertainment platforms such as TikTok, Instagram and Netflix.

In an exclusive interview with The European, Martin Collins said the iGaming company, which operates in 19 jurisdictions and is planning entry into New Jersey later this year, has repositioned its strategy around user experience and behavioural engagement, rather than transactional betting.

“Traditionally the engagement with the customer in our industry has been very transactional,” he told us. “We wanted to move away from that… When customers are sitting on their couch, they’re engaging with apps like TikTok, Instagram and Netflix. That’s who we’re competing with.”

Founded in 2016 and based in Cyprus, Soft2Bet has grown rapidly through a mix of in-house brands and B2B partnerships. Collins attributed much of the company’s recent momentum to its investment in gamification features – interactive, non-wagering tools embedded within its sportsbook and casino products – which have extended average user dwell time from 15 minutes to over an hour and 15 minutes.

The firm is also using artificial intelligence to build personalised user journeys, segmenting players into behavioural ‘cohorts’ and adapting the interface and offers accordingly. “With every login, with every interaction, with every click you have new data,” Collins said. “We’re building experiences that are honed for the individual.”

The approach has been paired with a strategy of hyper-local branding. In Canada, for example, Soft2Bet launched Tonibet – named after the country’s two-dollar coin – and in Nigeria, it entered the market through a partnership with one of the country’s largest broadcasters, Channels TV.

Looking ahead, the company has signalled its intent to expand further across Africa, Latin America and the U.S, where it expects to launch in New Jersey in summer 2025 following a lengthy market access process.

Soft2Bet is also backing sector innovation through a €50 million venture fund. Unlike traditional investment vehicles, the fund will allow selected startups to integrate and test their technologies live within Soft2Bet’s ecosystem. “It’s not just investment,” Collins said. “It’s about giving companies liquidity and battle-testing their products in the real world.”

He acknowledged that some rivals were offering unsustainable promotions to drive user acquisition – “deposit $5, get $500” was one example he cited – but insisted Soft2Bet was taking a longer-term view. “We want people to come back because they’re engaged,” he added, “not because we’re handing out free money.”

The full interview is available to watch above and on The European’s YouTube channel.