Soft2Bet obtains Romanian Gambling License
Author:
Muhammad Gregory
Soft2Bet has secured yet another iGaming license in the European Union, by securing a Class I gambling license from the Romanian Gambling Authority, ONJN. The Operator took a step further in its European expansion, where it recently acquired licenses in Greece, Ireland, Denmark, and Sweden as well. Soft2Bet will now be able to offer sportsbook options as well as online casino games of chance to the Romanian public.
Soft2Bet has secured yet another iGaming license in the European Union, by securing a Class I gambling license from the Romanian Gambling Authority, ONJN.
?Amadeus Moga/Unsplash
Soft2Bet is an online gambling operator and platform provider that offers custom-designed solutions to ensure smooth performance. It has several successful online casino and betting projects worldwide that provide a smooth and exciting online gambling experience. The company is based in Cyprus, with its headquarters in Limassol. Soft2Bet originated in 2016 and has since grown to become a trusted and compliant operator in the iGaming industry. The company’s expertise in navigating new markets positions it as a trusted and compliant operator, fostering strong partnerships with its clients.
Soft2Bet’s strategy is to expand in regulated markets in Europe, and it has obtained licenses from several regulatory authorities, including the Swedish Gambling Authority, the Malta Gaming Authority, the Danish Gambling Authority, and the Irish Tax and Customs Authority. Soft2Bet’s General Counsel, David Yatom, has expanded on the company’s entry into Greece via its new Greek license, which will further expand its presence in European markets. Recently, Soft2Bet has obtained a Romanian license from local regulator Oficiul National pentru Jocuri de Noroc (ONJN), which further grows its presence in Europe. With this significant achievement, Soft2Bet is poised to firmly establish its presence in one of the fastest-growing markets within the EU.
The license is a first-class license, which allows Soft2Bet to manage and organize games of chance in Romania, along with offering sportsbook betting options on multiple sports events. It will allow Soft2Bet to enter the Romanian betting market and operate in the region. The current value of the Romanian gambling market is ￡900 million, which has grown twice in size in the last three years. Romania is one of the most active gambling markets in Eastern Europe, with a total GGR of about €900 million per year. The Romanian gambling market first launched in 2015 and has since become the largest gambling market in Eastern Europe. In 2021, the total gambling market revenue in Romania surpassed half a billion Euros for the first time, with 56.7% of this revenue coming from online gambling. The significant growth of the gambling market in Romania makes it one of the most attractive markets for iGaming operators like Soft2Bet to expand their operations. The Romanian market is known to have a transparent operating environment and comprehensive regulations, which will enable Soft2Bet to offer a safe gambling experience to Romanians, and in turn, attract more bettors to its platform.
Soft2Bet’s General Counsel, David Yatom, stated that the company understood the pivotal role Romania played in establishing its presence in European markets. He said:
“We consider the Romanian market as one of the pivotal markets for establishing our foothold in Eastern Europe. Acquiring a local Romanian operating license marks an important step in our strategic expansion, building upon Soft2Bet’s success in other European markets. Stay tuned for more exciting developments in the near future.”
Soft2Bet acquired a Class I Romanian Gambling License
The Class I gambling license in Romania allows operators to offer both land-based and online betting options as well as casinos. The Class I license is required for B2C operators who offer gambling services directly to players. The authorization is valid for one year starting from the date of its granting, except in the case of temporary games of chance, in which case the authorization is valid for a period of three months. Soft2bet’s Class I online gambling license covers all online gambling activities, including, but not limited to, casino, eSports, poker, sports betting, online lotto, bingo, horseracing, and bitcoin gambling.
Soft2Bet’s Class I license will be valid for ten years. The process for obtaining a Class 1 online gambling license involves certification of the gambling system, application for a license, payment of fees, background check, technical testing, and certification of gambling software. Romanian law prohibits minors under 18 years old from participating in any kind of gambling activity. Soft2Bet will have to adhere to the regulations in place by the Oficiul National pentru Jocuri de Noroc (ONJN), or risk facing fines or sanctions on its activities.
The Romanian gambling market has a well-established regulatory framework that provides a stable and secure environment for operators to conduct their business. The regulatory framework has helped to attract new operators to the market and has contributed to the overall growth of the industry. The growth of online gambling has also been a significant contributing factor to the overall growth of the Romanian gambling market. Football is the leading sport in the online sports betting market in Romania, and it has contributed significantly to the growth of the industry. The popularity of football in Romania has made it a lucrative market for sports betting operators. As a result, the Romanian expansion will prove to be a great boost for an operator like Soft2Bet to establish itself as the top iGaming operator in Europe.
Soft2Bet is an award-winning Gambling Operator
In recent years, the Cyprus-based iGaming operator has expanded its products and services and become one of the top gambling operators in the world. It has won several awards in recent years for its top-notch products. One of its products won the Best Online Casino Product of the Year award at the 2021 Malta iGaming Excellence Awards. In addition, Soft2Bet also won the Online Casino Provider of the Year award at the 2021 Sigma Europe Awards. At the SBC Awards in the same year, it was named the White Label Supplier of the Year. Soft2Bet has since won four more awards, including the Platform of the Year award at the Sigma Europe Awards in November 2022. With its good reputation in the short term, Soft2Bet has been able to expand into the European market, gaining six licenses in five countries in just two years.
Its first gambling permit came in January 2022 in Denmark. It entered the Swedish gambling market in February with the sportsbook brand Betinia. By the end of April, Soft2Bet had obtained a license from the Irish Revenue Commissioners, which allowed it to operate in the whole country. The company also acquired the Swedish B2B license, which was made a compulsion by the Swedish government to help its partners enter the Swedish market. This was followed by acquiring the license to operate in another quick-growing gambling market – Greece. Soft2Bet acquired the Greek license shortly before acquiring the Romanian gambling license as well.
More recently, Soft2Bet entered into a partnership with SlotMatrix to increase its games portfolio with content from Armadillo Studios, which is a part of the EveryMatrix Group, and SlotMatrix Exclusive Partners. Armadillo Studios are passioante about bringing designs which accommodate game mechanics and player preferences.
“This partnership holds great importance because it will help Soft2Bet incorporate an excellent range of unique games onto our platform, elevating the quality of what we offer our partner operators and customers.” -Daniel Mitton, Director of Gaming and Business Development at Soft2Bet.
