Global Online Social Casino Market Overview:
An online social casino is a virtual platform that offers gambling-style games to users without the need for actual money. Instead of real money, players use virtual currency, which can be obtained through various methods, such as daily bonuses, leveling up, or purchasing with real money. Social casinos are designed to simulate the experience of gambling but without the risk of losing money. The online social casino market is a segment of the wider online gambling industry and has been growing rapidly in recent years. Social casinos are popular among players who enjoy the excitement of casino games but do not want to risk their own money. They also offer a social element, as players can connect with friends and compete with each other for virtual rewards. One of the unique aspects of the online social casino market is the use of virtual currency. Players can purchase virtual currency with real money, but they cannot cash out their virtual winnings for real money. This has led to some regulatory concerns, as social casinos can blur the line between gambling and gaming. However, social casinos have largely avoided the same level of regulation as traditional online casinos, as they do not involve actual money transactions.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Development of Innovative Online Social Games and Emerging Trend of 3D Slots and Interactive Casino Games
Market Growth Drivers:
Growing Popularity of Casino Games among the Youth Population for Enjoyment or Entertainment and Increasing Demand of Online Social Casino Games in Developed Countries
Challenges:
Limited Social Interaction and High Transaction Fees by the Online Casino Game Providers
Restraints:
Stringent Regulations or Ban on Playing Social Casino Games Due to Risk of Gambling Problems
Opportunities:
High Growth of Social Game Applications Across the Globe Due to Increasing Number of Internet and Smartphone Users
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Ocean Social Casino (United States), Greentube (Novomatic) (Austria), NetEnt (Sweden), Microgaming (United Kingdom), Videoslots (Malta), Quickspin (Sweden), Playtech plc (United Kingdom), Play'n Go (Sweden), International Game Technology PLC (United Kingdom), Sportradar AG (Switzerland) and BetSoft (Malta). Considering Market by Platform, the sub-segment i.e. Web-based will boost the Online Social Casino market. Considering Market by Operating System, the sub-segment i.e. Android will boost the Online Social Casino market.
Latest Market Insights:
In June 2020, Zynga, a leading social game developer, acquired Peak Games, a Turkish mobile gaming company, for USD 1.8 billion. The acquisition helped Zynga expand its portfolio of casual and social games and gain access to Peak Games' large user base in Turkey and the Middle East.
In 2020, the UK-based gaming company, Gamesys Group, launched a new online casino brand called Rainbow Riches Casino, which offers a range of casino games based on the popular Rainbow Riches franchise.
What Can be Explored with the Online Social Casino Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online Social Casino Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online Social Casino
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Social Casino market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Social Casino market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Online Social Casino Software Providers, Online Social Game Developers and Social Gaming Companies, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.