Social casinos aren’t something new, even though they are a popular trend at the moment. We can see traces of social casinos that go back 10 years ago, but of course, social casinos nowadays are completely different.
If you have been living under a rock and for whatever reason don’t know what are social casinos, let’s explain a bit further.
Social casinos are free-to-play alternatives to traditional casino games. In other words, people get to play their favorite games like slots, poker, roulette, or blackjack without depositing any real money. Instead, they are given free virtual currency that people can use in the process of betting.
Yes, you’ve heard that right. The industry that focuses only on money is taking money out of the process. Now it has a new focus, entertainment.
How did we end up here? How social casinos have become the new trend that has the potential to change the entire online gambling industry? Let’s find out.
The Explosion of Social Casinos
It is no secret that social casinos have achieved remarkable growth in the past couple of years.
Social casinos have seen remarkable growth in recent years, but let’s talk numbers. The market, valued at $7.39 billion in 2023, is projected to reach $11.20 billion by 2028, growing at a compound annual growth rate (CAGR) of 8.8%
This is just an estimated growth with current trends and players’ preferences. However, we know that the social casino industry is very dynamic and can be impacted by technology. Therefore, the growth of social casinos can achieve even higher numbers.
But how have social casinos reached this point? How all of a sudden, everybody wants to play casino games without taking any risks?
Well, we have to thank social media platforms for that.
The Impact of Social Media Platforms
Social casinos were first introduced with social media platforms like Facebook. There were free-to-play casinos before, but without the social aspect, which is very important in creating the ultimate casino experience.
Do you remember the good old days when you logged in on Facebook and invited your friends for some Zynga Poker action? Well, this is kind of the starting point for social casinos. Their availability on social media platforms pushed the industry to the roof. Why?
Well, because social media platforms like Facebook introduced millions of potential customers. On top of that, this made social casinos much more available to all people globally.
This set the fundaments of the social casino industry which is built on two factors:
- Free-to-play games
- Social Interaction
Players had the ability to communicate with each other, send gifts, and join tournaments, which improved the overall casino experience making people love social casino games even more. In other words, it is all because of the genuine casino feeling that players get when playing social casino games.
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The Evolution of Social Casinos
Social casinos started as a free-to-play alternative to traditional casino games, and that’s about it. They had no interactive features, no elements of social interaction, and didn’t have that real-world casino feel.
But over the years, players wanted more entertainment. Social casinos despite being free-to-play, started to get boring. After all, you play the same types of games, without any reward or anyone to communicate with.
This is where the social aspect of things started to change, and it was just around the time when social casinos were introduced to social media platforms. Since then, the industry has changed quite a lot. Social casinos have grown into becoming virtual hubs where you can hang out with your friends, and play some casino games.
Gamification and Community Building
Another important thing that we need to mention is the gamification of the online casino space. Up until then, casinos didn’t really focus on gaming factors that can improve the overall experience players get from playing.
Social casinos introduced leaderboards, tournaments, quests, challenges, and achievements. This added another layer of connection which improves the overall engagement. On top of that, the sense of community has made the entire process feel more genuine.
As an end result, people had more fun playing such games, which is why we see an increase in players in the social casino industry.
Virtual Currency and In-App Purchases
The use of virtual currency for multiple things in a casino environment was a big game changer. The introduction of virtual currency really skyrocketed the entire social casino industry.
Players can use the virtual currency provided when they sign up, from winnings, or from completing challenges for in-app purchases or for gambling. The use of virtual currency also allowed in-game transactions, and people started sending virtual money to each other.
Virtual currency is the backbone of the social casino industry, and it is something that social casinos cannot be imagined without.
Growth of Mobile Gaming
We also have, the rise of mobile gaming has significantly contributed to the popularity of social casinos. Nowadays, everyone has a smartphone.
With smartphones and tablets, players can enjoy their favorite games anytime, anywhere. This convenience has driven a substantial increase in the number of social casino players worldwide.
