Cash Free Social Gambling Producing Record Revenues
A recent report showed that more and more gaming giants are profiting from offering games where players are encouraged to use chips that can’t be turned into real money. The new phenomenon is primarily a result of games offered on social networks or that are played on social-casino style sites.
Popular games such as Candy Crush or Farmville are played for free but gamers can buy game credit by putting down as little as $1. More and more gamers enjoy these social games despite the fact they can never turn their chips into real money.
Social gaming specialist and ECO of SperData Research Joost van Dreunen explained, “It’s more interesting (to play) if something’s at stake. What’s cool is wagering a few of your dollars, or maybe a little bit more, and that gives the game a much richer dimension.”
Mobile-based casino games alone have grown from producing a profit of $200 million in 2009 to $2 billion in 2013, a staggering increase which companies are eager to capitalise on. Recently Dragonplay, an Israeli-based social-casino developer, has been snatched up by Bally Technologies for $100 million while Facebook favoured social-casino site DoubleDown was purchased by Caesar’s Entertainment.