Some of the biggest names in the social casino industry, Slotomania and DoubleDown Casino, attract upwards of five million players every month, a figure that’s predicted to rise in the near future.
How they make money
One of the reasons why social casinos are becoming more popular is because they’re free to play and because online casinos are banned in many countries, notably in most states in the US.
Because real-money wagering is not allowed on social casino sites, the lack of revenue is made up through in-game currencies and benefits that can be paid for using real money. Even though the games are free to play, around 20% of players have spent money on them, according to reports. All in all, it’s estimated to be a $4.4 billion industry that’s still got plenty of room for growth.
Pros and cons
Another plus is that players can very easily play against friends, something that you can’t really do that easily at a typical online casino. The major downside is that players can’t win real money. Land a big win at a social casino and the only money you’ll receive is virtual money; even if you make in-app purchases, you won’t see your spent money again.
Although they’re called social casinos, playing at them can be quite a solitary activity as it’s essentially yet another activity that requires you to concentrate on your device, plus a lot of the games are single-player. That being said, there are also ways to share your experiences with others via social media channels.
Nearly two-third of social casino games are played on Facebook. Since they’re good fun, easy to play and free, it’s no surprise they’re popular. Given there are over a billion active Facebook users, you can expect to see social casinos become even more popular in the future, especially without the pesky regulations, taxes and other red tape that surrounds real-money casinos.
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