iGaming, one of the industries immune to COVID-19 disruptions, is expanding. Its market size in 2024 was valued somewhere between slightly over $19 billion and almost $33 billion, while the projected growth is set at 12–15% CAGR from this year onwards.
The number of businesses is another indicator of this growth. New players emerge in iGaming as rapidly as dice rolls, just as new competitors and old rivals break into previously uncharted regions like LATAM. Nearly 22,000 sports betting companies operate globally, according to Statista. IBISWorld brings in a more humble number: 4,922 land-based and online casinos as of 2023, a 2.9% increase compared to 2022. Regardless of the exact number of iGaming businesses, the trend is evident.
Competition is fierce; you know that firsthand. While one can’t get too creative in picking a brand name (juggle words like bet, casino, or lucky, and you’re good), unconventional approaches to player acquisition and retention exist. Trueplay offers one of them.
My colleagues are passionate about developing the best combination of digital tools to help iGaming brands acquire and retain players. These tools, they stress, must work in tandem, supporting operators throughout every stage of the customer lifecycle. A few quarters ago, I saw their ideas crystallized in the Trueplayer philosophy. Believe me, it only sounds pretentious. The elegant idea is to turn occasional users into Trueplayers — regulars and brand advocates. The Loyalty Booster Suite is the “how” behind it.
The functionality of each solution is driven by its purpose at a particular marketing funnel stage.
CopyStake, a tool that brings streaming for iGaming brands, is utilized at this stage to drive traffic from Twitch, Kick, TikTok, and YouTube to the casino website. Users can co-play with streamers by copying bets and participate in Jackpot and Wheel of Fortune prize draws. The streaming tool is available in three modes: Bet Behind, Copy in Pool, and No Code. Sometimes, it’s better to see than to read another paragraph, so check out this video to learn about CopyStake’s capabilities in under three minutes.
According to the November 2024 test by the product team, CopyStake brings players to a platform with a 13% conversion rate.
Alternatively, operators can use Funnels No Code to power the initial touchpoint. Funnels No Code is a gamification widget for building funnels in marketing campaigns within 15 minutes — time enough to have a coffee, fry a steak, or watch 30 brain rot TikToks.
To encourage user-brand interaction, operators can mix and match point-earning missions such as “Refer a friend” or “Leave a review” with the Tap to Earn mini-game. Then, invite them to redeem points for perks in the reward shop.
Funnels No Code-powered campaigns can help maintain customer interest in a brand over time. And just like that, we’ve arrived at the topic of retention, the cornerstone of sustained revenue for any company.
It’s time to release these two beasts: Play to Earn and Hold to Earn.
Within the Play to Earn loyalty program, customers get tokens no matter the bet outcome. More action = more tokens. If I were to pitch a slogan for this loyalty program, I’d say, “Play to Earn makes every bet count.” Share your thoughts in the comments: is my slogan ok or lame?
Hold to Earn works like a bank deposit: players freeze their tokens, including rakeback from Play to Earn, and get a share of your platform’s revenue. There are three token holding periods on the menu — eight hours, one day, or three days, each differing in profitability: yearly profit and the share of casino income you can get.
The program taps into the human desire for ownership and easy gains: customers set aside tokens and anticipate future earnings, so they log in to the casino website just to check how many tokens they’ve accumulated. And who knows, they might surprisingly want to have a round or two of their favorite games again. Players are in their element, while operators benefit from increased user activity — visits, deposits, bets, and token freezes. Tokens remain circulating in the casino ecosystem.
Trueplay helps iGaming brands introduce a new generation of loyalty programs to enhance player engagement and distinguish themselves from competitors.
Unlike traditional points-based programs, the Web3-ones utilize digital tokens that can be purchased, saved, and traded like other cryptocurrencies. The more casino customers hold and use these digital tokens, the greater their value. As a result, Trueplayers build wealth when casino revenue increases. Tokenized loyalty programs allow iGaming businesses to transform users’ affinity for a brand into a personal stake in its economic success.
Web3 loyalty programs are gaining traction across industries. For example, Visa provides its web3 loyalty engagement solution, and Adidas drops NFT sneakers and co-branded physical shoes in partnership with the STEPN move-and-earn platform, following suit to many sports and fashion brands. Etihad Airways has a Horizon Club program whose members lock their digital assets, namely NFTs, to earn miles. They can then redeem these miles to enjoy flight upgrades, hotel bookings, and other perks.
So, Web3 loyalty is legit, unlike those failed crypto projects and their initial coin offerings, up to one in four of which tend to be scams.
The Loyalty Booster Suite isn’t a monolithic offering. If you need a specific tool to enhance communication and promotion for a particular stage of your funnel, you can easily integrate it. Flexibility is key.
Client retention in the iGaming industry is crucial, mainly due to cost efficiency. Unlike new users, retained clients provide a stable revenue stream because they buy or use services regularly, refer others, and are less price-sensitive. Back in 2001, the creator of the net promoter score, Frederick Reichheld, discovered that increasing customer retention rates by 5% drives over 25% in profit. Although his observation concerned financial services, it clearly illustrates the interconnection between client loyalty and sustainable economic gains.
The Loyalty Booster Suite is Trueplay’s answer to THE BIG PROBLEM of player acquisition and retention. I hope my article drew you to the interest and consideration stages of the marketing funnel. If so, book a call to learn more about the products.