Social casinos can be a fun way to pass the time or a free way to gain some experience playing online casino games. For the companies that offer them, though, they aren’t fun and games. They have a serious business element to them, and that’s what a new Bally’s social gaming investment is all about.
Bally’s has invested in Snipp Interactive with an eye on its social gaming component, Gambit Rewards. With the move, Bally hopes to capture more of the growing online casino market in the United States.
Bally’s social gaming gets investment
Technically, Bally’s is now a minority owner of Snipp. It paid $5 million for a 9% stake in the company. Snipp is a digital marketing firm that paid that same $5 million in January to acquire in total Gambit Rewards.
Gambit offers free-to-play online social casino games. Players acquire the necessary tokens to play the games via mail-in entries or through promotions with Gambit Rewards’ partners. Currently, Gambit counts over 200 companies among those partners across an array of industries.
If they win, players can use their resulting loyalty points to redeem cash and other prizes. Bally’s real-money online casino product will now be on the menu for Gambit players in terms of possible redemptions.
That’s the angle for Bally’s. Gambit gives it a new channel with which to contact potential new customers within places where it offers iGaming and even in places where it doesn’t yet do so.
How Bally’s can realize a return on its investment
Within Gambit, tokens are now an interchangeable currency with Bally’s Rewards points. Bally’s currently offers online casinos that use actual cash in Delaware, New Jersey, and Pennsylvania. It also offers in-person casino gaming and/or online sports betting in seven other states.
Players in those states will be able to use their Bally’s Rewards points to purchase Gambit tokens. For Gambit users in other states, there’s a benefit for Bally’s here as well.
Gambit can be a way for users in those places to familiarize themselves with Bally’s brand. The ownership stake of Snipp also gives Bally’s a ready-made list of customers to market new real-money gaming products to should they become available in new markets.
If that leads to more foot traffic in its casinos and deposits on its gambling apps, then this was $5 million well spent. At the very least, Gambit players have a new option for their loyalty points.