Opinion GAMEACCOUNT NETWORK
Gaming as an off-Facebook social gaming product to enable land-based casino operators to offer a fully immersive gaming proposition for their customers when not on site.
The trust and integrity of the land-based brands are brought online. and the same games (tables and slots) are available.. In essence, it’s a mirror image of the land-based environment where virtual credits purchased allow continuous play and, where regulations allow, cash back incentives using land-based loyalty cards and Casino Management Systems are available.
Let’s be clear, this is not a new concept.
GameAccount’s Simulated Gaming has been powering the largest land-based casino in the US (Foxwoods Resort Casino) for over ten months and five other US operators will be live with Simulated Gaming over the next six months. This will not only serve to generate significant incremental revenue through a new channel of entertainment, but it will also reactivate lapsed players and drive renewed visitation to the land- based venue where spend is up not only on gaming but also on other verticals within the property.
In general, social gaming monetises players (registration to deposit) at around two per cent.
The very best social casinos manage somewhere around five per cent. GameAccount’s Simulated Gaming is currently monetising around 18-20 per cent of registered players through to deposit and play.
Why?
Trust – players know and trust the online brand. They can (and do) visit the bricks and mortar venue, seeing and playing the same games in and out of the venue.
Content – players recognise and gravitate towards the same games that they love to play offline, in the online space.
Rewards – where allowed, players receive tangible value against the purchase of virtual credit made online in Simulated Gaming. They can spend that credit in the land-based casino when they visit.
For land-based casino operators, this is the perfect opportunity to engage with their current, lapsed and future patrons. It allows them to prepare for real money online gaming in a pre- regulated environment. Same brand, same content, new revenue stream. Oh, and there’s no gaming tax on earnings through social gaming.
For regulators, Simulated Gaming is an endorsement of how real money gaming can work safely and securely, using the latest KYC and harm minimisation requirements. This is not gambling. It’s gaming, it already exists and doesn’t require regulating. However, everyone who plays is fully age verified, so it’s safe.
For players, it’s an easy sign up process and they can earn rewards whilst playing their favourite games using brand names they trust.
Social Casinos on Facebook can be concluded as a race to the bottom becoming dominated by sites owned and operated by large land-based slot suppliers.
Online Simulated Gaming supports an offline presence, not cannibalises it. It works, and it’s available now - globally.
Social Casinos on Facebook
can be concluded as a race to the bottom becoming
dominated by sites owned and operated by large land-based slot suppliers.
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