While a lot has happened since then the process of monetizing social casino games has become a lot less complicated due to startups like that of Betable. Essentially they offer operators the chance to offer real money gambling games in jurisdictions where Betable have existing gambling licenses. These include the United Kingdom which has many real money gaming options and been tried and tested on their home ground. We reported their partnership with Big Fish Games and others in which real money gambling is a long established legal reality in the U.K.
What makes Betable such a sure bet is the fact that the average social casino player’s lifetime value is only $2 where as that of a gambler can reach up to $1800! This simple equation has meant that Betable.com has no shortage of social casino and other gaming developers who are keen to start cashing in on real the money.
CEO Chris Griffin could not be happier at the rapid growth and success of real money gambling performance,
” The opportunity for disruption is enormous, with social casino games taking money from the core incumbents. Across the board, we are seeing incredible performance.”
What makes things even more interesting is the statistic that 80% of the new players of real money casinos had never spent any money in the social casino games before.
According to Griffin Betable are able to convert a free-to-play casino game into a real money option in as little as 48 hours.
As our readers will remember we have been pointing out the benefits for all parties with the merging of social gaming to that of real money gambling. For the real money sites, the free-to-play option will attract new players who may well be tempted into trying out the real thing.
For social gaming companies the conversion to real money players in countries where it is legally possible to do so means that they could start enjoying the fruit of what was once considered the “forbidden fruits”. We will continue to follow Betable closely as they continue to expand globally.