Phil Pearson: iGaming Industry 2025 in Review

In this episode of NEXT In-Depth, Conor Mulheir invites Regulus Partners’ Paul Leyland to explain how he approaches the analysis of publicly listed companies’ financial reports. With Q1 reporting season now upon us, the pair will explore the best ways to understand what public companies are telling us – and what they aren’t. As an example, they will take a closer look at Evolution’s Q1 report, which bucked the firm’s trend of consistent growth as it showed a sequential decline in quarterly EBITDA.

1 Touko 48min

🎙 NEXT.io Podcast #233 with Akhil Sarin, CMO of Stake.Akhil Sarin, the marketing mastermind behind Stake, breaks down the blueprint behind Stake’s viral rise from streamer-led growth and global sports deals to launching KICK and going head-to-head with Twitch.⏰ Timestamps:00:00 - Introduction00:34 - Sponsors 01:51 - Welcoming Akhil Sarin03:35 - Akhil's Journey to CMO05:57 - The Early Days of Stake08:54 - The Streaming Strategy13:31 - Key Partnerships and Brand Elevation15:22 - The Drake Partnership Story20:02 - The Formula 1 Partnership24:02 - Company Culture and Team Dynamics26:30 - Measuring Success in Partnerships29:05 - Evaluating Sponsorships & Marketing Decisions32:36 - The Founder Mentality35:36 - The UFC Brand Partnership40: 02 - Leadership Culture42:50 - Building Kick: Strategies for Success47:23 - Future Aspirations and Market Expansion🔔 SUBSCRIBE TO THE PODCASTYouTube: https://www.youtube.com/@nextdotioCONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

10 Huhti 53min

🎙 NEXT.io Podcast #231 with Justin Park, CEO & Co-Founder of Betty.How do you build a successful casino gaming brand in a highly competitive market? Justin Park, CEO & Co-Founder of Betty, shares his insights on launching and scaling a challenger brand in the regulated iGaming space.⏰ Timestamps:00:00 - Introduction00:46 - Sponsors02:06 - Welcoming Justin Park06:09 - Betty Initials: startup journey & early ventures12:19 - Raising capital: relationships vs. pitch decks16:38 - Betty's business model: online casino18:09 - Understanding personas: slots vs. table players22:23 - How Betty stands out: brand differentiation24:55 - Ontario: a strategic launch market26:43 - Net revenue growth & success29:15 - Transparency & publishing results publicly33:12 - The McDonald's of iGaming franchise approach36:52 - Market expansion strategy39:00 - What it takes to be a founder41:07 - Scaling challenges & leadership growth43:11 - Book recommendations: Rockefeller & Andy Warhol45:35 - Where Betty will be in 3 years🔔 SUBSCRIBE TO THE PODCASTYouTube: https://www.youtube.com/@nextdotio/podcasts CONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

3 Huhti 46min

🎙 NEXT.io Podcast #225 with Tom Light, Co-Founder and Group CEO at FIRST - Best in SportsIn this NEXT.io Podcast episode, Tom Light, CEO & Founder of FIRST - Best in Sports, breaks down five major industry trends. These include the decline of easy profits in iGaming, the power of gamification, and the rise of AI-driven odds-making. ⏰ Timestamps:00:00 - Introduction00:36 - Sponsors01:54 - From SBTech to First – Best in Sports04:53 - Building a New Platform From Scratch07:54 - Analysing Today’s Sports Betting Landscape09:27 - Competing With Betano & bet365 as a B2B Provider13:06 - Tools, Intelligence & Data-Driven Decision Making14:17 - Trend #1: The Industry Isn’t Printing Money Anymore20:07 - Trend #2: Feature Fatigue & Sportsbook Advancements41:22 - Trend #3: Gamification as a Retention Strategy55:27 - Trend #4: The Rise of Brazil & Emerging LATAM Markets59:23 - Solving the “Saturday Problem” in Brazil01:00:02 - Brazil Case Study01:04:39 - Trend #5: AI’s Role in the Future of Sports Betting01:13:09 - What’s Next for First? Vision for B2B & Global Growth🔔 SUBSCRIBE TO THE PODCASTYouTube: https://www.youtube.com/@nextdotioCONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

27 Maalis 1h 15min

🎙 NEXT.io Podcast #230 with Jake Dovey, CEO & Founder of PayModum.What’s next for payments in the iGaming industry? Jake Dovey from PayModum, explores the current state of payment innovation, emerging trends, and the impact of evolving financial technologies on operators and suppliers.⏰ Timestamps:00:00 - Introduction00:38 - Sponsors02:08 - Why payments and innovation aren’t always connected04:26 - Lessons from Apple Pay, Klarna & adoption timelines08:30 - The real reason innovation sticks: user experience14:58 - Why crypto hasn’t delivered on its payment promise18:00 - Stablecoins & the path to real-world usability21:00 - How gaming operators adopted crypto before anyone else25:19 - USDC vs USDT: why some stablecoins gain trust27:57 - Monetary systems, inflation & the future of currency33:31 - Global economic shifts & crypto’s potential role39:39 - The political side of payments & decentralisation44:30 - Deglobalisation, instability & the rise of local payment models47:29 - Fragmented regulation: why licensing differs globally49:00 - Cross-border payments & where payment providers thrive50:45 - What’s next in payments: stablecoins, M&A, and new rails56:56 - IPOs, fintech cycles & the pressure to innovate58:02 - What payment companies can actually do better59:00 - The role of strategic partnerships in driving change1:00:15 - Why micro-payments haven’t scaled (yet)1:06:08 - Reducing friction in iGaming payments1:08:59 - What PayModum does differently: code-free integration1:13:05 - Helping global operators enter new markets1:16:46 - Growing without VC: challenges and philosophy1:18:08 - Vision for PayModum & Masato over the next 3 years1:20:02 - Closing thoughts🔔 SUBSCRIBE TO THE PODCASTSpotify: https://open.spotify.com/show/409DefE06IKPhZzhDIDpH3?si=bf60dedab34e45bcApple: https://podcasts.apple.com/us/podcast/next-io-podcast/id1515442333CONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

24 Maalis 1h 20min

🎙 NEXT.io Podcast #229 with Martin Collins, Chief Business Development Officer at Soft2bet.Martin Collins, joins Pierre Lindh to discuss why the U.S. iGaming market is still full of untapped opportunities, despite recent operator exits. Martin shares why Soft2Bet is entering the U.S. now, how they plan to disrupt the market with a fresh UX approach, and what the future holds for tribal operators, iCasino expansion, and alternative betting models.⏰ Timestamps:00:00 - Introduction00:50 - Sponsor02:08 - Martin Collins Returns & Soft2Bet’s Growth04:53 - Why Entering the U.S. iGaming Market Now?05:37 - Soft2Bet’s B2B & B2C Strategy in the U.S.09:47 - New Jersey as the First Step & Proof of Concept11:21 - Turning Data Into a Winning B2B Strategy13:35 - The Future of Tribal & Non-Traditional Operators14:55 - The U.S. iGaming Opportunity & Market Shift16:06 - Why U.S. iGaming UX is Outdated & How to Fix It19:50 - More States Will Regulate iGaming23:06 - Alternative Market Entries: Sweepstakes, DFS 2.0 & Crypto25:11 - What’s Holding Back iCasino & When Will It Take Off?28:38 - Can Anyone Challenge FanDuel & DraftKings?29:27 - AI, Personalisation & The Future of iGaming32:28 - Soft2Bet’s Global Expansion & US Ambitions36:03 - What Success in the U.S. Looks Like for Soft2Bet40:31 - Soft2Bet at NEXT Summit: New York 202542:33 - Closing Marks🔔 SUBSCRIBE TO THE PODCASTSpotify: https://open.spotify.com/show/409DefE06IKPhZzhDIDpH3?si=bf60dedab34e45bcApple: https://podcasts.apple.com/us/podcast/next-io-podcast/id1515442333CONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

13 Maalis 42min

🎙 NEXT.io Podcast #228 with Robbie Bressler, CFO at Bragg Gaming Group.In this NEXT.io Podcast episode, Robbie Bressler, CFO of Bragg Gaming , dives deep into why the U.S. iGaming market remains one of the biggest opportunities in the industry. Despite slow state-by-state regulation, Robbie explains why Bragg Gaming is betting big on the U.S., the role of sweepstakes in shaping future laws, and whether new challengers can compete with FanDuel & DraftKings in online casino.⏰ Timestamps:00:00 - Introduction01:20 - Robbie Bressler’s background in iGaming05:01 - Bragg Gaming’s market cap: 2021 peak & decline07:25 - Leadership changes & rebuilding investor trust08:53 - Special committee: Why it disbanded & key takeaways12:23 - Bragg Gaming’s U.S. expansion strategy16:05 - Will more U.S. states legalise iGaming?18:33 - The impact of sweepstakes22:42 - Bragg Gaming’s stance on sweepstakes partnerships25:40 - The potential for new iGaming entrants28:35 - Bragg Gaming’s approach to customer retention34:51 - CPA challenges & barriers for new operators35:57 - Bragg Gaming's expansion into Brazil & LATAM38:21 - Regulated vs. unregulated markets41:27 - Will regulators clamp down on crypto casinos?42:53 - The future of iGaming regulation & policy shifts45:03 - Bragg Gaming’s 2025 vision & long-term investment case46:51 - Closing Remarks🔔 SUBSCRIBE TO THE PODCASTYouTube:https://www.youtube.com/@nextdotioCONNECT WITH NEXT.IO✩ Website - https://next.io/This episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

10 Maalis 47min

🎙 NEXT.io Podcast #227 with Roger Ehrenberg, Managing Partner at Eberg CapitalIn this NEXT.io Podcast episode, Pierre Lindh welcomes investor and venture capitalist Roger Ehrenberg for a deep dive into money, success, leadership, and investing. Roger shares insights from his Wall Street career, his transition into venture capital, and the mindset needed to build and back successful businesses.⏰ Timestamps:00:00 - Introduction00:49 - Sponsors02:09 - Roger Ehrenberg’s Background03:07 - The Meaning of Money & Success06:28 - Does More Money Bring Happiness?09:10 - The Source of Ambition & Early Challenges12:56 - Why Founders with a Chip on Their Shoulder Succeed15:41 - What Investors Look for in Founders19:59 - Balancing Vision & Flexibility in Startups22:57 - Red Flags Investors Avoid in Founders25:28 - Breaking into Venture Capital Without a Network30:07 - The Importance of Preparation When Pitching Investors32:22 - Perseverance vs. Knowing When to Quit38:21 - Roger’s Investment Strategy & Market Trends41:49 - The Future of Sports, Gaming & Media44:06 - Eberg Capital’s Investments in iGaming & Sports Betting50:42 - WagerWire & Betting as Entertainment52:14 - How U.S. iGaming is Evolving53:09 - Career Advice for Founders & Entrepreneurs55:45 - Powerful Business Lessons57:17 - Public Speaking & Overcoming Fear1:00:28 - Closing Marks🔔 SUBSCRIBE TO THE PODCASTYouTube: https://www.youtube.com/@nextdotioThis episode of NEXT.io is brought to you by:Pragmatic Solutions – Leading iGaming platform technology.https://pragmatic.solutions/Pragmatic Play – Industry-leading content provider.https://www.pragmaticplay.com/en/

7 Maalis 1h