So some of you my know that I have spent the past few weeks supporting an online gambling application, giving them some digital advice before they launch and hopefully try to disrupt a huge sector!
With this in mind I thought I’d write an article on social gambling!
Social gambling for those of you that do not know is gaming on social media.
Over the last couple of years, many gambling operators have launched social media games on Facebook and similar platforms amongst others with the aim of reaching more players - fish where the fish are!
The beauty with online gaming is that many apps also offer players the chance to play for free.
With Facebook being one of the most popular social media platforms around, it comes as no surprise that social gambling is rife on Facebook. Statistically, 61% of all players who gamble on social media do so on Facebook.
Real money gambling on Facebook is, however, only allowed in specific countries with prior authorization. Since only a few countries meet these criteria, free games and apps are likely to stay put and will continue to further dominate the social gambling scene.
Some of the most popular games around on social media include slots, Texas Hold’em poker as well as blackjack; All of which can be played for free.
Some of the world’s biggest names in gambling have been thinking of ways to merge together gambling and social media. These two markets are capable of fueling each other’s growth. With social games reaching out to circa 290 million active players on Facebook alone, the online gambling industry can easily fuse the two together. Social media has the reach but online gambling is where the money is at.
Gambling operators are increasingly looking at ways to enter the social games area to boost its own reach. Although the games could stay relatively free, money in social games can be generated from players who pay for virtual goods in Facebook currency in order to unlock more features.
If we have a look at the social games on Facebook these days, the majority of the games have paid in-game benefits with many players using Facebook Credits to buy these features. When it comes to games such as online poker and online slots, which act as a virtual version of a gambling environment, no real money can actually be won.
If social media opened up the opportunity to real money gaming, the world of social media will go through a drastic change. Back in 2011, the network launched Facebook Credits, a virtual currency that allowed users to purchase goods in games and apps. Some say that allowing real money betting and gambling on a larger scale would ensure that massive amounts of cash move through Facebook, pushing the stock prices up.
We can wait and see what the future of online gambling and social gaming will bring. Once gambling operators make a move onto social media, there will be a huge challenge for companies who have been providing free games on Facebook. Smaller companies will have a much tougher time to process a business model to legalise real money betting and I cannot wait to see how Crypto and Blockchain take effect too - with decentralised tech like this the possibilities are really endless!