Entertainment. A word synonymous with the gambling ecosystem and one that is perfectly encapsulated by the world of social casinos.
In conversation with CasinoBeats, Max Trafimovich, Chief Commercial Officer at SOFTSWISS, reveals the inner details of a venture into this space, notable trends and how a partnership with Ously Games is certain to bear fruit.
CasinoBeats: SOFTSWISS recently announced a strategic partnership to dive into the realm of social casino software. Why are social casinos so attractive for the igaming industry and for SOFTSWISS in particular?
Max Trafimovich: Social casinos represent a rapidly growing market with impressive metrics. With approximately 85 million players worldwide, this segment is projected to reach €10bn by 2030.
What makes social casinos so intriguing is their unique blend of gambling excitement and social interaction. Unlike traditional casinos, where players solely compete against the house, social casinos offer a social layer where players can unlock achievements, engage in friendly competition, and share their experiences with others.
Why might this be so interesting? From a provider and operator perspective, social casinos offer access to new demographics, player bases, and geographical markets. This creates new channels for audience engagement.
Importantly, social casinos operate within a closed-loop system where players can purchase virtual chips for in-game rewards but cannot cash out winnings.
This distinction means that social casinos are not classified as gambling establishments and do not require the same stringent licensing requirements. Additionally, the absence of real money withdrawals mitigates the risks associated with money laundering, eliminating the need for KYC or AML checks.
As a result, social casinos are widely accessible on platforms like Facebook and various mobile app stores, making them an attractive proposition for both players and operators alike.
CB: Are there any industry trends engaging social casinos that attracted your attention this year?
MT: From what I see, one notable megatrend is the convergence of the gambling and entertainment industries on a global scale. This convergence has led to the development of projects at the intersection of these areas.
For instance, loot boxes, commonly found in various MMO games, are more related to gambling. Similarly, skin gambling projects allow players to trade and bet on various artefacts and items, expanding the gambling experience.
The other side of the megatrend is the widespread introduction of gamification and entertainment elements into gambling projects. Tournaments with gaming mechanics akin to multiplayer games, such as levelling up, achieving milestones, or unlocking VIP statuses, offer players a more immersive and engaging experience. This evolution opens up new avenues for offers and bonuses tailored to player preferences.
While the complete merger of gaming and entertainment may still be on the horizon, if achievable at all, there are clear signs of overlap and integration between the two industries.
Social casinos, as a vertical within the industry, have been around for some time. With the advent of free development tools offered by platforms like Facebook in the mid-2000s, niche game studios were able to attract millions of users rapidly.
Today, social casinos constitute a significant segment of the industry, characterised by rapid growth, diversification, and exploration of new markets. Recognising this trend, SOFTSWISS is actively adapting to accommodate this evolving segment.
CB: Can you tell us more about the details of the deal with Ously Games to develop a platform for social casinos?
MT: Leveraging the SOFTSWISS expertise, Ously Games will handle the entire platform development process, spanning website creation and app development for various app stores.
This includes building in-app analytics to track user behaviour, such as user journeys and purchasing habits. Additionally, Ously Games will keep enhancing its back-office admin panel to provide player activity monitoring, engagement tools management, user activation, and other functionality.
CB: Why did SOFTSWISS choose to partner with Ously Games for this project?
MT: Ously Games is a fantastic company with deep expertise and growth potential that make it a natural fit for this project. It is young and actively developing, it has outstanding founders and an experienced team who anticipate market trends.
The entrepreneurial background and strong leadership drive align perfectly with SOFTSWISS’ vision. So I would say we both are on the same wavelength.
