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Social games developer PlayStudios is set to expand its operations into the sweepstakes casino market in mid-2025. The company is best known to players for its social casino app myVegas, which it launched in 2012. However, it also provides marketing services to other businesses through its playAWARDS and MyVIP loyalty platforms.
The decision to explore the sweepstakes casino space is a move by PlayStudios to capitalize on the booming $3 billion market. By weaving sweepstakes into its existing offerings, the company hopes to find user engagement and boost revenue.
In the company’s Q3 earnings call, a representative told investors about its plan.
The emergence of sweepstakes as a promotional mechanic is significant, with a $3 billion market. We see an opportunity to leverage our games and player network to drive engagement and monetization. We have constituted a formal team to advance our technology tools for sweepstakes, aiming to enhance our existing playAWARDS capabilities.
PlayStudios Q3 Earnings Call
This came in response to a question about playAWARDS, suggesting that the focus will be on business-to-business loyalty program solutions.
Growth for sweepstakes has also brought increasing scrutiny on the industry. In September a group of sweepstakes and social casino operators formed a trade organization called the Social and Promotional Games Association (SPGA), aimed at promoting compliance within the industry and improving its image.
PlayStudios builds in-house sweepstakes tech
To fuel its venture into sweepstakes, PlayStudios plans to handpick a specialized team to craft technology tools, and these bespoke tools will be integrated with the company’s existing playAWARDS platform.
Rather than opting for a quick fix by acquiring an off-the-shelf solution, PlayStudios has chosen to build its sweepstakes features from the ground up. Hence this allows the company to tailor its solution to its needs.
Looking ahead, PlayStudios plans to unveil its sweepstakes offering in the first half of 2025. The company has mapped out a rollout plan, with initial testing and validation slated for the first quarter, followed by a full-scale promotional push in the second quarter.
A company spokesperson noted during the call:
We chose to build due to favorable economics and execution capabilities. We expect to be in the market with sweepstakes capabilities in the first half of the coming year, with testing and validation by the end of the first quarter and active promotion in the second quarter.
What should potential sweepstakes casino customers expect from loyalty programs?
PlayStudios has cracked the code on loyalty with its playAWARDS program. This initiative allows players to accumulate loyalty points, which can be redeemed for real-world rewards from top hospitality, entertainment, and leisure brands.
Like playAWARDS, the myVIP Loyalty Program is also designed to give players a little something extra for their dedication.
As players earn points for playing PlayStudios’ games, those points can be redeemed for rewards, bonuses, and other perks.
But what really sets the myVIP Loyalty Program apart is its tiered system. As players earn more points, they will move up the ranks and unlock even more rewards and benefits. It’s a great way for players to track their progress.
