In recent years, the social casino market has changed significantly, becoming a fast-growing part of the global gaming industry. Experts expect this market to grow quickly over the next five to seven years.
A recent study, done by a consulting company called Maia Research, found that the social casino market was worth over $10 million in 2021. It's predicted to grow at a rate of approximately 23% per year and could be worth more than $36 million by 2027.
Here’s a broad stroke look at what else the social casinos study found.
What’s Driving Social Casino Growth?
The report says that the social casino market is growing because social games are easily integrated with digital platforms.
Players can access top social casinos like Chumba, McLuck, and Hello Millions through web and mobile apps, making it easier for them to play while doing other things, like chatting with friends on social media.
The competitive nature of these casino games and tournaments and the desire to outdo friends keep players highly engaged with these platforms. Not to mention you don’t have to wager any real money and can play with free virtual currency.
Diverse Casino Game Offerings Also Help
The diversity of product offerings within the social casino market caters to various player preferences who are looking to have the authentic real-money casino experience without actually having to wager any real money.
Traditional casino games like Slots, Poker, Blackjack, Roulette, and Baccarat can be found at most social casinos and they can be played with gold coins and sweeps coins, which have no real monetary value but can still be exchanged for prizes.
According to the report, game diversification will continue to be a pivotal trend as operators strive to innovate and enhance user experience. Look for more unique casino games offered along with poker options to come along.
North America is Considered a Social Gaming Leader
Regionally, the social casino market exhibits significant growth across multiple territories.
North America, which includes the United States, Canada, and Mexico, leads the charge due to its advanced technological infrastructure and high disposable income levels.
The Asia-Pacific region, especially China, Japan, and India, is set to grow rapidly because more people are using mobile devices and gaining access to the internet.
Europe, South America, and the Middle East & Africa also present lucrative opportunities, each with unique market drivers and challenges.
Many of these social casino operators will look to other countries to get into, but North America is still where they are mainly legal.
Social Casino Market Called “Promising”
Researchers say that the social casino market is about to grow and innovate significantly, with more operators entering the market and more states and countries potentially allowing it.
As digital gaming changes, operators must manage the upcoming opportunities and obstacles such as legal battles.
They add that the potential for growth and innovation within the Social Casino sector remains extraordinarily promising much like the online casino market, and is poised to expand.
