What is Gamification and how Play to Earn Can Take Your Casino to New Heights
The iGaming industry is always on the lookout for new ways to attract and retain players. One trend that has been gaining a lot of attention recently is gamification.
“Gamification is quite a new concept that can significantly improve player retention, thus positively impacting business metrics,” says Alex Antsyferov, CBO at Trueplay.
In this article, we’ll explore what is gamification and how the Play to Earn program by Trueplay can make your casino more profitable.
What is Gamification?
Originating from the gaming industry, it is an ecosystem that enables players to earn through playing games — by completing tasks or achieving certain milestones. These rewards can then be used to purchase in-game assets or traded on the exchange.
The concept is similar to traditional loyalty programs, where players can earn rewards and unlock new levels, but with the added benefit of earning. Gamification offers numerous benefits for online casinos, particularly with the Play to Earn model, which incentivizes players to earn by playing games.
What is a Play to Earn?
Play to Earn is a model that has emerged within the gamification ecosystem, where players are rewarded for their actions. Play to Earn has already proved its effectiveness in the gaming industry.
Several gamification projects, such as Axie Infinity, have recently gained a lot of popularity. It is a game that enables players to get rewards by playing the game. The rewards can then be used to purchase in-game assets or traded on the exchange. Axie Infinity has become a massive success, and the demand for the game has surged, making it one of the most valuable gamification projects in the industry.
How casinos can benefit from Play to Earn
The Play to Earn model has the potential to take gambling projects to new heights by creating a win-win situation and a new source of revenue for players and casinos alike. Players are incentivized to spend more time betting to get rewards, which, in turn, increases the engagement and retention rate of the project and leads to higher GGR.
What’s even more motivating, Play to Earn can also capture the attention of a new audience. Play to Earn-based loyalty has gained popularity in recent years, particularly among the younger generations. By providing such loyalty, casinos can attract users that may not have been interested in traditional online casino games.
Play to Earn by Trueplay
Play to Earn is a part of the Trueplay loyalty developed for the iGaming business. The retention rate of casinos that have integrated Trueplay increased up to 18% within the first month, so Trueplay stands out as an innovative product that helps gambling projects benefit from all the advancements in gamification.
With Play to Earn by Trueplay, every casino user with bets gets rakeback from lost bets as casino-branded loyalty. Casinos can also promote particular games within their platform by increasing the rakeback percentage and creating promo campaigns that encourage users to take actions that matter.
Additionally, the Trueplay product integration includes launching the casino’s customized loyalty and supporting its livability. Thus, your casino may attract new customers interested in gamification.
To wrap it up
The emerging trend of gamification enables players to earn through playing games. The Play to Earn model has proved to be an effective way to increase engagement and retention rates, leading to higher GGR for online casinos, and also attracting new users by providing Play to Earn-based loyalty. We can expect to see more gamification projects emerge in the online casino industry.
Trueplay’s Play to Earn program is one such innovative product that helps gambling platforms to tap all the advancements of the gamification and has shown a significant increase in retention rate for casinos that have integrated it. Overall, gamification has the potential to take gambling projects to new heights and is likely to be adopted by the online casino industry at an ever-increasing rate.
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