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Social casinos also share a number of similarities with other online gambling-based gaming models, i.e., sweepstakes casinos, and online gambling platforms, which often confuses the new operators and entrepreneurs who want to launch their social casino.
If you are someone who wants to launch your very own social casino, this blog will help you understand the ins and outs of the same. Keep reading!
Social Casino Market Overview
According to the latest market report, the global social casino market is expected to reach an estimated valuation of $8.2 billion by 2026, with a CAGR of 6.7%. One of the most compelling reasons behind its rapid growth is easy internet access all over the world. A general increase of interest towards online entertainment, as well as in gambling activities, also contributes to its market expansion.
A dominating number of social casino players are 40 years or older, says another recent report. Both men and women are equally interested in social casinos, statistics show. Social casinos are especially loved and enjoyed by players belonging to countries where traditional casinos are banned, such as in Middle Eastern countries, as well as a number of Asian countries.
Characteristics Of A Social Casino
It Is Run On Virtual Currency
Social casinos operate on virtual currencies, coins, or tokens. Players receive free tokens while signing up, and later by playing and winning various games.
It Doesn’t Involve Real Money Gambling
Unlike an online casino, a social casino doesn’t involve real money gambling. Players aren't required to make a purchase or deposit money to start playing at an online social casino. Social casinos are free-to-play platforms that offer casino-like fun without financial risks.
It Includes In-App Purchases
Social casinos also have in-app purchase options. Players can purchase more coins, power-ups, special features and upgrades, and other in-game elements in exchange for real money. However, it’s completely optional.
It Offers A Diverse Range Of Game Selections
Social casinos offer a huge range of game types, just as you find in real casinos. You can find games like slots, poker, casino, blackjack, roulette, bingo, and more. This wide variety of different types of games keeps players engaged and entertained for a long time without feeling redundant.
It Encourages Socialization & Provides Entertainment
Social casinos are interactive, and the environment encourages interactions between players through various features such as multiplayer games, player chat, leaderboards, tournaments, etc. This makes social casinos more fun and entertaining for players.
It Leverages Advertising & Sponsorships
Many social casinos display ads and participate in business sponsorships. These are some of the ways through which a social casino earns revenue.
Social Casinos, Sweepstakes, & Online Casinos: Understanding The Difference
Real Money Involved:
Social casinos don’t involve real money gambling. Sweepstakes casinos too have a ‘No purchase necessary’ clause attached to them, meaning spending money is not mandatory. But online casinos involve mandatory real money gambling.
Currency Type:
Social casinos run on virtual tokens or coins. Sweepstakes casinos run on a dual virtual currency system, i.e. gold coins and sweep coins. In online casinos, players play with real money.
Rewards System:
Social casinos don’t offer any rewards that have real value. Sweepstakes casinos, on the other hand, offer real-value rewards. And in the case of online casinos, players get to win real money as rewards.
Monetization:
Social casinos generate revenue through in-app purchases, advertisements, and sponsorships. Sweepstakes casinos also follow similar sources for revenue generation, while online casinos directly earn from the money that players deposit and use for betting.
Purpose:
Social casinos exist to offer fun and entertainment through casino-like games to players. Sweepstakes casinos offer entertainment as well as a chance to win real rewards. Online casinos are enjoyed by gamblers for the thrilling chance of winning real monetary rewards.
How Do Social Casinos Monetize & Generate Revenues
In-App Purchases
About 70% of the total income of an online social casino is generated through in-app purchases of virtual currencies or tokens. When players run out of coins, they purchase them in exchange for real money.
Freemium Game Models
Many casino games also use a freemium model to generate revenue. They offer a basic version of a game for free, and include an advanced, premium version with more features and better game options that players have to purchase. The premium option can be offered as a one-time purchase or as monthly/weekly subscriptions.
Advertising Revenues
Businesses also earn revenue through advertising and sponsorships. Reward-based advertising is very common, where players earn a reward for watching an advertisement.
Why Are Social Casinos So Popular?
Nurtures Social Interactions
As the name itself suggests, social casinos are designed to encourage social interaction between players and highlight the social aspect of real casinos. Including features like multiplayer games, leaderboards, tournaments, player chats, etc., makes the experience more enjoyable for players.
Provides A Safe Environment
Social casinos don’t involve real money gambling. Hence, it provides a safe and stress-free environment for players with no fear of losing real money.
Entry Is Easy
Unlike online casinos, where players must make a deposit to start playing, social casinos are free to play. Besides, an online casino needs a player ID for legal verification purposes. But social casinos don’t have any such prerequisite.
Highly Engaging Games
Social casinos offer captivating and immersive games for players. It offers a huge number of game options and keeps players entertained for hours.
Safe & Legal
Moreover, social casinos don’t involve any special legal requirements since they don’t involve real money gambling. They are treated like other online gaming platforms and are legal in most areas of the world, irrespective of whether real gambling is allowed there or not.
Gives Players A Taste Of Gambling
Finally, the reason why players love exploring social casino sites so much is that they allow players to get a taste of gambling without really losing any money. Players enjoy the thrill of betting that accompanies social casino games. Some players also use social casinos to get familiarized with gambling before moving on to real gambling.
Types Of Social Casino Games
Slots
Slots are highly popular with social casino players. Slot games offer instant wins and involve very simple gameplay. Yet, the themes, animation, and other in-game elements can make slots a highly amusing option for social casino online players.
Poker
Poker is an addictive card game that involves planning and strategizing in order to win. Unlike slots, which are purely chance-based, poker is a hybrid game that involves both luck and decision-making to win.
Bingo
Bingo is a number-based multiplayer game where the players have to mark out numbers from one or multiple number cards when each number is called out. Players win when the marked numbers create certain patterns in the card, or all numbers in a card are marked out.
Blackjack
Blackjack, also known as 21, is a card game where players have to strategically place their cards in order to achieve the goal of the game. The gameplay is simple, yet highly addictive.
Roulette
Roulette is a table game that features a spinning wheel with numbered compartments, and a ball that lands in one of the compartments when the wheel is spun. Players have to make as accurate guesses as possible about where the ball will end up.
Keno
Keno is a lottery-style game. Players have to select numbers and match the ones drawn by the dealer. It offers quick results and is highly amusing for players.
Other than that, there are several other social casino games available, such as fish, lottery games, scratch cards, etc.
Current Trends Of the Social Casino Market
Advanced Graphics
Social casino games are evolving in design and becoming visually rich. Game developers are implementing advanced graphics like 3D, AR, and VR to produce highly attractive games that have an appeal of their own.
Innovative Game Types
Not only in graphical quality, but social casinos are also introducing new and unique game types, and innovative gameplays to cut through the boredom and offer refreshing entertainment.
Mobile-First Experience
Since the majority of players are accessing gaming platforms from mobile devices, game developers are paying special attention to making the games mobile-responsive. As a result, small download size, highly interactive interface, mobile-only features, seamless integrations, etc. are being embraced in the market.
Social Features
One of the main purposes of social casinos is encouraging social interactions. This trait is further being promoted with gamification features, in-game chat options, multiplayer games, live dealer games, etc.
Are Social Casinos An Alternative To Online Gambling?
Frequently Asked Questions
What is a social casino?
A social casino is an online gaming platform that offers casino-like games. It doesn’t involve real money gambling and runs on virtual casinos.
Does a social casino offer real value rewards?
No. A social casino doesn’t offer any rewards that have real life value.
Is a social casino business profitable?
Yes. Businesses can generate revenues from in-app purchases, freemium gaming models, and advertising.
What kinds of games are found in social casinos?
Games similar to online casinos are found in social casinos. The only difference is that in social casinos, players play with virtual currencies and not real money.
Comparing online casinos and social casinos, which business is more profitable?
Although social casinos can be very profitable, still it cannot compete with online casinos in terms of profitability. Online casinos generate a lot more revenue through player deposits and house edge, when compared to a social casino.
