BetProtocol allows individuals to establish gaming platforms in a matter of just a few minutes. BetProtocol came into existence in 2019 by its Portugal based team. The platform makes the requirement of coding redundant. As a result of the blockchain technology, these platforms have emerged to be safe, scalable, and accommodating with guidelines.
As FOMO week two has begun, BetProtocol has launched its latest online gaming module, namely “The Social Casino.” The new module will help in unlocking a vast $5.5 billion market.
Definition of social casino
Different individuals have their own unique definition of social casino. The main reason behind it is because social casinos are now available in varying flavors and use cases. You will come across an extensive presence of social casinos all over the Internet throughout the world. The popularity of social casinos has spiked so much that they are projected to grow at a steady rate. And, probably, this is the reason why BetProtocol has decided to add social casinos to its technology offering.
Social casinos have emerged as the online entertainment platforms wherein users get the opportunity to play casino and other games without spending any money.
Social casinos have no wagering or betting in currencies of real value. Users will be able to receive free chips from playing every day and on signup. Users will also be allowed to buy additional chips in case they run out of them.
It is interesting to note that there will be no winnings and users will not be able to withdraw money or exchange their chips for anything of real-world value.
Social casinos often have a sharing or community-based aspect as well. Now you must be keen to know how social casino operators mint money amid these facts?
How social casino operators make money?
Social casino operators make money via advertising, in-game purchase of virtual goods (it may include clothes, for avatar, badges or VIP status), product placement, and lead generation, among others.
Booming market
Social casinos continue to grow at a robust pace. Last year, the market was $5.5 billion and this year it is expected to grow more than 7 percent.
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