The Future of Social Casino in Web3: introducing the Casinoverse
In this article we break down what is a social casino,
is a Casinoverse and why you should care that the Social Casino segment in gaming surpassed
$6.2 billion in 2020 and is forecast to hit $7.5B by 2026. Yes, these numbers are
staggering… but there is more. Now imagine combining these industry numbers with the global
metaverse market size estimated to be worth $68.3B in 2021, and is expected to reach $828.9B
in 2028, with a CAGR of 43.3% during the forecast period, 2021–2028…
Is your eyebrows raised yet?
Welcome to the Casinoverse, where social casinos meet the metaverse...
What is a social casino?
First off, social casino is NOT gambling. Simply put, social casino is about playing
games for entertainment purely for the fun of it. Meaning, there is no financial risk to the
player to play.
Everything from spin-wheels to slot machines to table card games and virtual sports, unlike
a regular real-money casino, where say you put $20 in, you play with $20 and whatever you
win you can cash out and whatever you lose the game is over AND in order to play more you
have to put more money in. In social casino, you can play for FREE and get ALOT of play for
your chips, and only put money in if you want to access to premium games and content. So you
do not even have to deposit $20 if you choose not to by simply sticking to the basic game
features. So, to summarize, social casino is casual gaming fun that is for entertainment
purposes without the need for the player to risk significant amounts of money in order to
What is a Casinoverse?
The Casinoverse created by the team at Lucky Lady Games and under the domain CasinoEmpire.io
, short for “casino universe,” refers to a virtual Vegas-like world that
resembles the real world. Essentially the casinoverse is a casino-centric metaverse. And it
is home to many casino brands under one domain, similar to the Las Vegas strip where you
will find many different casinos and entertainment offerings to satisfy any taste.
If you don’t know what the term metaverse is, many see the metaverse as the “next
generation” of the internet where individuals will go to connect with others. Simply put, it
is a virtual world of sorts similar to game MMO (massive multiplayer online) platforms such
as Roblox, Fortnite, Minecraft or League of Legends where players can join in and socialize
and play with others.
In the metaverse, people will be able to do more or less everything they can do in the real
world: meet their friends, shop, socialize, play games, and go to work through the use of an
avatar. The casinoverse will be interoperable to other metaverses, meaning you will be able
to bring your virtual self and any assets you may own to other virtual worlds. So to
summarize, the casinoverse is the virtual Vegas-like playland of virtual worlds, where
avatars go to the best vacation & hopefully win some big money!
So what are the benefits of a social casino inside the casinoverse?
Understanding the benefits of a social casinos starts with understanding casino player
psychology. From a business perspective, social casinos contribute to the iGaming ecosystem
by providing a no-risk style of gaming to introduce new players to the game that otherwise
might be turned off due to the pressure of wagering real money or lack of trust with online
The free-to-play nature of social casinos are a great way to onboard and engage players to a
new or existing brand in the modern ways of the internet where customers prefer to spend at
their discretion and convenience. Unlike other forms of marketing, businesses are able to
use social casinos to interact with their existing and new users and monetize them for
healthy profits without the pain of regulated, real money gaming.
While real money casino play is illegal on mobile platforms such as iOS and Android/Kindle,
Facebook etc., social casino is fully legal and compliant on these channels where there is a
huge amount of traffic. Players monetize and buy in-app purchases with a market of over a
trillion dollars and users are used to this purchasing model due to other mobile app user
experience design that also sell virtual currency and goods.
The benefits of having a social casino are very high for established gaming providers
with some top 3 being:
- New revenue stream from existing traffic / customers
- Power of networks — marketing extension & growing user lists
- Data and business — understand the market for future strategy
How do you social casinos make money?
Besides the basics of selling virtual currency for casino entertainment, making money in
social casinos, like other free-to-play games is an art beyond in-app purchases. In 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.
What does a basic social casino plan look like?
First you need a secure a reliable casino platform with the right product features that
align to business goals such as the one being created by Lucky Lady Games at CasinoEmpire.io
where you can be a part owner of a social casino simply by purchasing developed virtual land
NFTs that come with a developed casino game on top. If you would like to build your own,
Lucky Lady Games also offers full DIY online social casino build & customization tools that
is as easy as drag-and-drop. You can learn more about the easiest social casino builder game
in the world here at: CasinoEmpire.io.
Industry data statistics shows that the social casino continues to be an annually growing
market where users are not only engaging more, they are converting to paying players as late
as 2 years after being exposed to a brand. This shows us the importance of user touch-points
and communication and how it positively affects lifetime value of players via social casino
for any brands targeting a similar customer as the casino industry. This can range from
luxury goods to the finest restaurants and entertainment shows.
Anyone in gaming should see the value and the importance of the social casino space as it
evolves along side whatever technology simply by seeing how consistently social casino is in
the top grossing apps on all platforms year after year. There is also a strong market demand
for the aging population towards casino entertainment from the comfort of their home as
there is also a strong need to engage younger generations / millennials.
If you have ever played at a social casino, you will know just how fun it is. Now imagine
how fun it will be to not only beat the house, but be the house too.
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