The gaming landscape continues to evolve as technology becomes increasingly smarter and attracts gamers from all walks of life. Often considered a world completely separate from traditional online gambling, video games have established themselves as a deep-rooted fanbase where players can enjoy online interaction, join communities, and experience enhanced gameplay through in-app purchases.
However, in recent years we have seen a huge rise in the popularity of social casinos which are attracting a wide audience, including non-gamers and casual players, through social media sites and live streams. Here we witness an interesting crossover from video games to online casino games where social casinos offer certain elements of both worlds, such as live community interaction and in-app purchases, while members play casino-style games.
Social casinos versus traditional casinos
The main difference between a social casino and a traditional online gambling site is that in the former, all games are free. No registration fee or deposit required, members play with virtual currency to bet on their favorite casino games without the risk of losing real money. Additionally, a key aspect of social casinos is the opportunity for members to join thriving online communities and interact with friends or family while playing online.
As you may know, traditional online casinos require a cash deposit to allow you to play their online games for real money. Some sites may offer certain games in demo mode that can be played for free, but the reason behind this is to provide practice and insight into the casino before betting with real money. Traditional casinos focus on real money gambling and not particularly on the social aspect of the game.
Sweepstakes casinos: bridging the gap
Sweepstakes casinos are often classified as social casinos, but they actually fall between the social casino and the traditional online gambling Site, with a foot in both camps, so to speak. Sweepstakes casinos like Mega Bonanza offer a unique hybrid model that features elements of traditional and social online casinos. Sweepstakes members play with virtual currency but also have the opportunity to win real money prizes.
Licensing and Regulation
Another significant difference between social casinos and traditional online casinos is the rules around licensing and regulation. When playing for real money, you should only play on a site that is licensed and regulated by a trusted gaming authority, such as the UK Gambling Commission or the Kahnawake Gambling Commission.
In contrast, social casinos are considered free-to-play sites focused on social interaction without the risk of losing money, and therefore the regulation is much more relaxed. However, a UK parliamentary publication insists “Social casino products are the latest example of the convergence between video games and gambling” and calls for measures to prevent children from accessing social casino games.
How social casinos have revolutionized the gaming market
In 2020, the global social casino market was estimated at $6.2 billion, a far cry from the humble beginnings of social media-based browser gaming in 2010. This boom was further aided by the rise of online gaming. mobile phones during the Covid-19 pandemic. 2020/21. Social casino members are not required to deposit real money, but can purchase in-game content to enhance gameplay, such as special gifts, events, and tournaments.
With the increasing rise of live streaming, we have seen a monumental crossover from video gaming to iGaming, and as technology evolves, we see a considerable shift in preferences towards more social and interactive gaming experiences. Not surprisingly, the impetus for this change comes from the younger demographic that has been born into the innovative world of social media.
There is a strong connection between social interaction and live streaming for the younger generation. Popular platforms like Twitch and Kick have allowed gaming communities to come together to celebrate their favorite games and other creative content. This has fallen into the world of social casinos, where streamers and influencers build trust and forge communities eager for entertainment and social interaction.