What are the key strategies for entering regulated markets?
At SiGMA Central Europe 2025, the spotlight shined on the complex realities of regulated markets and the opportunities they present for operators ready to evolve. On the Regulatory Stage, on 04 November, the panel titled “Licence to Launch: Winning Strategies for Entering Regulated Markets” brought together leading legal, business and operational experts to explore how companies can successfully navigate the transition from emerging to regulated environments.
Moderated and supported by WH Partners, the discussion featured insights from Quirino Mancini, Group Strategic Advisor- Gambling, Media and Sport at WH Partners, Dario Evangelista, Deputy General Counsel at Betsson Group, Ray Lee, Director of Business Development at TaDa Gaming, Marcus Hanna, CEO of BetToMax; and Revaz Chkuaseli, CEO of VBET Romania. The panel unpacked the compliance, cultural and strategic challenges of regulated expansion and the winning approaches that set successful market entrants apart. Here were the key takeaways from the discussion.
Regulatory, commercial and cultural hurdles
Opening the session, moderator Quirino Mancini set the tone with a personal touch. “As a Roman, I want to give you a warm welcome to my city.”
Mancini went on to introduce the panelists, noting the “diversity” of backgrounds represented, from operators and legal counsel to suppliers and gaming entrepreneurs. “It’s an interesting panel because of their diversity”
For Marcus Hanna, regulation is both a challenge and a sign of progress in emerging regions such as Africa. “I think for us in Africa, the biggest challenges we face are regulatory, commercial and cultural,” he said. “African countries are moving into regulated environments, which is good, but we see growing pains because of a lack of awareness about the gaming industry.”
Hanna highlighted how the complexity of dealing with multiple authorities can slow down progress. “Sometimes it means dealing with three different regulators just to get your business up and running. That’s more red tape and difficulty.” Beyond regulation, adapting to vastly different cultural preferences is critical. “Africa is a very diverse continent. You need to adapt quickly to whatever changes you see in a market when you enter it.”
Tailored strategies
Representing a multinational operator, Dario Evangelista emphasised the importance of groundwork before launching. “Every market entry starts with a pre-market assessment, a deep dive into jurisdictions, technical requirements, marketing restrictions, as well as cultural dynamics,” he said.
According to Evangelista, acquiring existing local businesses can sometimes offer an effective shortcut through heavy regulatory barriers. “In markets with strict restrictions, acquiring an existing business with brand recognition can help overcome barriers. Each market demands a tailored approach, regular analysis helps us enter with confidence and operate with integrity.”
He added that the challenges Betsson faces vary by region. “For a company like Betsson, challenges may range from technical to cultural. In some areas, it’s marketing restrictions; in others, it’s about understanding local player behaviour,” he said.
The technical and cultural balance
From a supplier’s standpoint, Ray Lee brought an Asia based perspective to the discussion. “We started in Taiwan but now operate across Europe and further afield. I think we’re the only Asian game provider with the most B2B licences.”
For Lee, the most demanding aspect of regulated entry is compliance. “The KYC part is the hardest. In iGaming in Asia, we normally don’t want to disclose personal information about location and company ownership, it’s a cultural thing. But in Europe, it’s mandatory.”
Technical compliance also differs dramatically across jurisdictions. “Each market has different technical requirements, for example, Italy has a lot of specific procedures you need to follow and culture plays a big role too. You have to understand it, not fight it.”
Revaz Chkuaseli, CEO of VBET Romania, agreed that the intersection of compliance and culture is where many companies succeed or fail. “The biggest challenge is culture and compliance. Combining them and creating the best strategy for users helps grow your business effectively.” Localisation, he added, is central to VBET’s approach. “We put a focus on location and compliance, that’s basically our guideline for how we work in every market.”
Standardisation and local adaptation
Mancini then posed a key question: is it possible to have a standardised process for market entry, given the diversity of global regulations?
Evangelista acknowledged the difficulty but argued for consistency in quality. “Each country has its peculiarities, but no matter where you are in the world, you should always expect a certain level of quality and safety.” Hanna agreed, while stressing that Africa requires flexibility. “In Africa, a standard approach doesn’t work. You have to understand what people are responding to. Even a marketing campaign needs to be in multiple languages and local dialects, you can’t just have one version.” For Lee, success depends on preparation and courage. “As a game provider, you need to have the courage to enter a market even when you don’t know if it’ll work. We make sure everything is ready before we approach a new market.”
Evangelista summed it up succinctly that, “It’s about finding the balance between compliance and commercial ability, while staying flexible enough to adapt to local demands.” Lee added a final piece of advice: “Find the right operator to guide you through the right markets and compliance process.” And as Chkuaseli concluded, “Technology is a game-changer in every market.”
For more expert insights, strategic advice and exclusive conversations shaping the future of gaming regulation, stay tuned for continued coverage of SiGMA Central Europe 2025, your inside access to the people and ideas driving the next era of iGaming growth.
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