The value of the global social casino game market flourished during the years of pandemic. In 2021, it stood at US$6.464 billion. The boom was largely due to more people spending time online, using a PC or mobile device, as other activities were restricted. Since the end of the pandemic, the booming growth of the social casino games market has steadied. However, a more stable level of growth is expected to continue.
Estimates suggest there will be a CAGR of 6.15% in the period up to and including 2027. If these growth predictions are correct, the result will be a 2027 social casino game market value of US$9.248 billion.
These expectations for growth take account of the stability that returned to the market at the end of the boom period. They also allow for a recent drop in downloads of social games, especially in the casino game arena. These social casino games are an important sector of the larger social gaming industry.
The term “social gaming” refers to online and mobile games that allow for social interaction. These games include social network games, multiplayer board games, and card games. Within this wider industry is the social casino games market.
Social casino games allow individuals to play casino games like slots, blackjack, and poker free of charge. The growth in value of the market shows how popular these games have become as people search the game catalogs of the best sweepstakes casinos to find their favorite games. Sweepstakes casinos, also referred to as social gaming casinos, are sites that provide an array of these games for people to play.
These sites are available using a PC, laptop, or mobile device. The mobile market in particular, is vital to the growth of the social casino games market due to the increased use of smartphones globally. Currently, around 6.84 billion are in use across the world. This figure equates to around 85% of the world’s population, although this is not an exact science because ownership is not necessarily 1 to 1.
See Also >> Airtel Partners With Insurance To Offer Insurance Products
Even so, the proliferation of smartphones is significant enough to be a central factor in the performance of the social casino gaming sector. The connection can most clearly be seen in North America, where smartphone penetration is high at 73.7%, and the social casino gaming market is at its most successful level.
The smartphone market will continue to feed the growth of social casino gaming. This growth will not be as high as during the pandemic era boom because we are not living with the same number of restrictions in our lives.
More Players Joining
This means there is more competition in terms of the activities we choose to be involved with. Despite this competition, there is still an appetite for social casino gaming. People who have discovered their favourite games in this sector will continue to play, and more players will join them.
In order to get optimum value from this potential player base, the sector will need to innovate and create to promote optimal growth. If this happens, the estimated market value of US$9.248 billion by 2027 is likely to become a reality, boosted by Playtech roulette games, among others.
Next >> Top Tips To Get The Most Out Of Your Personal Finances
