BetProtocol is proud to announce our brand new online gaming module : The Social Casino.
In this post we will answer the following questions about Social Casinos:
- What is a “Social Casino”, and how is it different from a traditional, real money casino?
- What is the market size and opportunity for Social Casinos?
- What advantages will offering Social Casinos bring to BetProtocol’s Network, and for the $BEPRO token?
Finally, we will finish with a sneak peek of one (of many) of our social casino frontends.
What is a Social Casino?
If you speak with many different people, you’ll soon find out that everyone has their own definition of what a social casino is. That’s because social casinos come in many different flavours and use cases, and they are widely distributed across the Internet all over the world. In fact, social casinos are so popular that the projections of steady growth are very promising (more on that later), and that’s exactly why BetProtocol has added Social Casinos to its technology offering.
In a nutshell, Social Casinos are:
- Online entertainment platforms where users can play casino & other games for free
- Social Casinos have no wagering or betting in currencies of real value (in contrast to real money casinos)
- Users get free chips to play with everyday and on sign-up, and they can choose to purchase more chips if they run out
- There are no “winnings” and users cannot withdraw money or exchange their chips for anything of real world value.
- Often Social Casinos have a sharing or community based aspect, where the “social” part comes in. You’ve probably seen social casino games on popular social media sites like Facebook.
Given these facts, you may be wondering, “well then how do the social casino operators make money?”
And that’s a good question! The way social casino operators make money is through :
- In-game purchases of virtual goods (clothes for your avatar, VIP status or badges)
- In-game purchases of more chips when players run out
- Product placement
- Lead generation
Social Casino Market Size
Social casinos are booming. Last year the market was $5.5 billion USD, and it is set to grow at a compound annual growth rate (CAGR) of more than 7%. There are hundreds of millions of users per year that play in social casinos, and the trend is growing. As social media grows, platforms such as Facebook and others are looking for other ways to entertain and cross-sell their users. Look to social games and casinos to continue gaining more and more share of the attention-economy online.
And now, what you’ve all been waiting for…
What advantages will offering Social Casinos bring to BetProtocol’s Network, and for the $BEPRO token?
- Added revenue streams (of course)
- New product to offer to new clients
- Gamification for existing platforms
- $BEPRO-as-Gas via revenue share with platforms
We are very excited to offer this new technology to our clients. Currently we are signing several operators who are deploying Social Casinos on top of BetProtocol. If you are looking to launch a Social Casino and manage it all with no coding required, please get in touch!
BetProtocol enables anyone in the world to create gaming platforms with no coding required. Thanks to BetProtocol’s blockchain technology, these platforms are secure, scalable and regulatory compliant. Its vision is to enable anyone in the world to dream of being a gaming platform owner one morning, and actually be one that same day.