Entering a new regulated market requires “a lot of expertise, experience and a lot of resources” to ensure you pass the litmus tests set by regulators according to Mike Van Ermen, VP of Business Development at FSB.
Not only that, he said, these processes are fundamental for establishing a trusting relationship with both new and existing partners.
Speaking at the SBC Summit North America back in July, Van Ermen spoke in depth about the supplier’s growing momentum in the North American market.
Breaking ground in Ontario
He began with an overview of Ontario and the key opportunities that this nascen jurisdiction presents for FSB. He said: “Obviously there’s a lot of enthusiasm from both new and existing operators looking to enter Ontario, and FSB is well positioned to provide for them all.
“Something that we’re really excited about is our partnership with Fitzdares. We’ve had a long-standing relationship with Fitzdares over in the UK, they have been great partners for us and we would like to think that we have been great partners for them too.
“We feel that it’s been a great stamp of trust for us to have a partner that has been with us for so long and has decided to go live with us in a new market in North America. We now have our Ontario licence so that’s just another feather in the cap of FSB.”
The US – building trust
Pinpointing the North American markets that are high on FSB’s agenda, Van Ermen explained that FSB is in the final stages of the licensing process in Nevada and has already received certification in South Dakota.
He added: “We are still going through the process of our Nevada licensing, which we’re hoping to wrap up relatively soon. We’ve identified Nevada as a major market for FSB – not only is it where I live, it’s where I first entered the industry. But there are so many tier one operators that are based out of Nevada; the state has such a rich history of sports betting. We’re taking this opportunity seriously, and it’s a great place for FSB to operate.
“In addition to that, we have secured a licence in South Dakota. We’re continuing to build our credibility as we continue to enter new states and pass the litmus tests set by the regulators. It’s a very exciting time. It’s a lot of work and we’re very busy. But it’s one of those things that when you’re a regulated sportsbook provider that is providing for regulated sportsbooks, you need to build that trust with your partners.
“You need to have those rubber stamps to show people that you’re able to enter new markets and provide a service under these regulated conditions. It’s not easy and it’s something that requires a lot of expertise, experience and a lot of resources. But FSB is doing a great job of achieving that.”
Watch the full interview HERE