The gaming industry is one that has continued to evolve in the best way that it can, with each niche doing its best to remain ahead of the curve and stay ahead of the competition. The sector is a multi-billion dollar industry and one that is fierce with competitors. If a company does not look to do as much as it can, it can instantly fall into oblivion and find it very difficult to get back to where it wants to be.
Technology has played a significant role in helping companies to be as innovative as possible, with some niches having been able to benefit more than others through its availability and capabilities. The iGaming sector is one of those, as they have found new ways in which it can continually position itself at the top.
How has the iGaming industry remained innovative?
Despite the iGaming industry facing more legal barriers and entry to markets than other gaming niches, the sector has continued to thrive through innovative features. While technology has allowed them to create interactive gaming and provide an enhanced experience with each session that is enjoyed, it has also allowed new methods to be created that can reach new audiences.
The sweepstakes model is one such way it has been able to achieve greater market penetration and exposure. Players across the US are unable to gamble online with real money when enjoying casino games in the vast majority of states. In fact, only six have legalized the activity in some capacity.
However, iGaming companies have been able to come up with a sweeps coins casino option that can be utilized safely and legally by players in all jurisdictions. Known as Sweepstakes Casinos - or social casinos - these sites offer players the opportunity to enjoy an authentic online casino experience without the need to spend real money. They use “Gold Coins” which are a currency that is often provided free and can then be used to play slots and table games in the same way that real money casinos would use traditional currency.
As players are able to buy more “Gold Coins”, iGaming companies are able to essentially enter themselves into “contests” that can be win, with the skill component that is outlawed not involved. As a result, operators are then able to bypass any rules and regulations that explicitly ban real-money wagering.
Creation of new sites
While there are some states that have already accepted and permitted legal online wagering, there are companies that have looked to try and get their foot in the door of those locations that do not currently permit it in another way.
There have been many that have tailored their marketing strategies to create new companies that follow the sweepstakes model, thus allowing them to meet the legal guidelines that have been set and keep their other businesses free from potentially failing to meet those requirements.
What benefits are offered?
As highlighted, the gaming industry is one of the most competitive in the world, with it important for businesses to remain ahead and continue to be as innovative as possible if they are to have a positive footing.
Sweepstakes gaming has provided these companies with a new way of enhancing the products that they offer, as they are able to enter new markets that were initially unavailable to them. They are able to offer the same types of games that they are used to offering, as well as a traditional casino experience, but they can do so safely with the use of the sweepstakes model.
Players may also feel more attraction to these sites than real money ones, as they may feel that they are able to enjoy a more relaxed and less pressurized gaming experience as there is less risk attached to each session that is entertained.
Expect more companies to get involved
The sweepstakes model is one that we can expect to see even more gaming companies in the US iGaming market look to enter as they try to overcome state legislation.
With slow progress having been made in terms of real money wagering across casino games in comparison to sports betting, operators may look to introduce options to states that do not allow iGaming activities as a way of trying to establish a reputation and loyal customer base through the use of a model that is legal. If they can capture the market in this regard first, and the landscape changes in the future, they may be able to convert those members immediately, thus having already managed to successfully navigate one of the hardest tasks they have: getting customers on board.
