Soft2Bet, a B2B iGaming provider, has entered into a multiyear brand licensing agreement with WPT Royale, an official licensee and partner of the World Poker Tour. The deal grants Soft2Bet the rights to combine its technology and Ontario operating licence with the global brand recognition of WPT Royale to launch a new casino and sportsbook in Ontario, Canada. The announcement was made on July 1, marking a significant step for Soft2Bet into the North American market.
The agreement leverages Soft2Bet’s established technological infrastructure and its existing licence to operate in Ontario, a regulated iGaming market that opened to private operators in April 2022. By integrating the WPT Royale brand, Soft2Bet aims to attract poker enthusiasts and a broader audience to its upcoming platform. The partnership underscores the growing trend of brand licensing in the iGaming industry, where established entertainment brands collaborate with technology providers to enter new jurisdictions.
Soft2Bet has been expanding its presence in regulated markets globally, with a focus on Europe and now North America. The company’s platform includes a range of iGaming products, such as casino games, sportsbook, and gamification features. The Ontario market, regulated by the Alcohol and Gaming Commission of Ontario (AGCO), has become a key target for international operators due to its clear regulatory framework and consumer demand. This deal positions Soft2Bet to compete with other operators in the province by leveraging the WPT brand’s recognition among poker players.
WPT Royale, as a licensee of the World Poker Tour, brings a well-known brand in the poker community. The World Poker Tour has been a prominent name in televised poker tournaments since its inception in 2002, and its brand extension into iGaming through licensing agreements is a strategic move to capitalize on its audience. The partnership with Soft2Bet is expected to include marketing initiatives and cross-promotional activities to drive player acquisition and retention.
The financial terms of the agreement were not disclosed, but such licensing deals typically involve upfront fees and revenue-sharing arrangements. For Soft2Bet, this deal represents a low-risk entry into the North American market, as it avoids the need to build a brand from scratch. Instead, it can focus on delivering a seamless user experience and complying with Ontario’s regulatory requirements. The company has previously launched brands in other regulated markets, including Sweden and Denmark, and has experience adapting to local regulations.
Industry observers note that brand licensing is becoming a common strategy for iGaming operators and providers to differentiate themselves in crowded markets. The WPT brand, with its association with high-stakes poker and entertainment, could appeal to a demographic that values prestige and trust. However, the success of the venture will depend on Soft2Bet’s ability to execute its technology and marketing plans effectively.
Soft2Bet’s CEO, Uri Poliavich, commented on the deal, stating that the partnership with WPT Royale aligns with the company’s strategy to enter regulated markets with strong brand partners. He emphasized the importance of the Ontario licence and the potential for growth in the region. The company plans to launch the new casino and sportsbook in the coming months, pending regulatory approvals and integration of the WPT Royale brand into its platform.
The Ontario iGaming market has seen significant activity since its launch, with many international operators entering the fray. The market is competitive, with established players like Bet365, DraftKings, and FanDuel already operating. Soft2Bet’s partnership with WPT Royale could help it carve out a niche, particularly among poker players who may be drawn to the brand. The company will need to invest in marketing and promotions to build awareness and attract users in a market where customer acquisition costs are high.
Looking ahead, the success of this venture could pave the way for Soft2Bet to expand further in North America, potentially into other US states as they regulate online gambling. The company’s technology platform is designed to be scalable and adaptable to different regulatory environments, which could facilitate future expansions. For now, the focus is on launching a compelling product in Ontario that leverages the WPT Royale brand to its fullest potential.
This deal also highlights the ongoing convergence of poker and casino gaming, as operators seek to offer comprehensive iGaming experiences. The inclusion of a sportsbook alongside casino games reflects the trend towards integrated platforms that cater to diverse player preferences. Soft2Bet’s ability to deliver a seamless cross-product experience will be crucial to retaining users and maximizing the value of the brand licensing agreement.