Social casinos are gaining more popularity these days even if people still think that it is ridiculous to spend on something like this. However, it’s just right to wonder whether this platform has great potential as a business. After all, it’s much easier to get into this business compared to running an actual casino.
While 10CRIC Sports betting and casino offers real money games that people can enjoy and win prizes with value in the real world, some people find playing social casino games more reassuring as it is something less risky for them. Social casino games are free to download, but these could also have in-app purchases just like any other online game. This is what could make social casino games profitable.
It should also be noted that the numbers are also saying that social casinos have great potential as it continues to grow each year. Last year, it was reported that the global social casino gaming market was already worth around 6.2 billion US dollars and this activity is extremely popular with mobile users.
What are Social Casino Games Anyway?
These are casino games you can download or play online without necessarily spending money. Typically, these are free to play and download on platforms like Google PlayStore and iOS. Some of the popular social casino games that people can download on these platforms are Vegas Nights Slots, Tycoon Casino, FaFaFa™ Gold Casino, and Cash Blitz Free Slots.
On these apps, you get to play actual casino games but you don’t use your money to be able to play. You are only given virtual coins for free and it’s what you can use to spin the wheel or play their other game selections.
Typically, players receive free virtual coins or tokens daily, so playing these games for free is possible. However, the objective of the game is to win more and this is the same case for actual gambling. This is why many social casino gamers still end up spending money on the games that they play.
It’s not illegal or banned on app downloading platforms because the prizes that the players win have no value in the real world. It’s no different from spending money on games with in-app purchases like Call of Duty: Mobile, Candy Crush Saga, and many more. And so, even if you’re playing games like slot machines, blackjack, poker, and so on, you’re not technically gambling.
What Experts Are Saying About Social Casinos as Business
The head of Eilers and Krejcik Gaming initially thought that social casinos wouldn’t survive. He said that they thought that who in the right mind would spend real money for virtual coins that can’t be withdrawn. However, the growth of this gaming segment has proven that there are people who are willing to do this.
Dana Takrudtong who is an executive in charge of digital transformation at Gan spoke about how manufacturers saw the opportunity in this business scale when its value was in question. Takrudtong said, “They watched the rapid development of social casinos on Facebook and mobile apps and the meteoric rise of revenues.
“The vendors who produced content said, ‘We have these historic libraries and these incredibly valuable games. Why don’t we bring to take this IP to our casino partners so they can participate in the marketplace as well?’”
According to her, social casinos are phenomenal tools that extend a household to the digital space. She added Players can be home watching Netflix and shopping on Amazon while playing a social game, and the casino still has the player’s share of wallet, the share of mind and share of time.”
Sandra Wong, a designer, and Entrepreneur from Planet Tech and Gaming wrote on her LinkedIn profile about how social casinos make money. According to her, it’s just like any other free-to-play game. Wong wrote, “In a social casino, you can purchase chips for play but never cash out which is profitable in itself, there is huge value in having a self-sustaining marketing extension where product features; live operations; data, and player behavior drive other business initiatives and goals. IE. Real money casino foot traffic to land-based casinos at a fraction of the cost.”
The thing about social casino gaming is that it is popular in the mobile market. It is estimated that there are already over 4 billion mobile users worldwide and over 2.2 billion people play mobile games. This could be how big the potential market of social casinos could be if it continues to gain more popularity over the years.