BuddyBet is one of the worl'd most social betting platforms. They received $3 million, that came from private investors, for funding the next phase of their P2P betting platform development.
Large brands and dedicated communities are able to charge high retail prices. however, mobile and online developers who target casual gamers must look to alternative methods, for instance, banner adverting, that targets the more casual gamers, these annoy the gamer audience and will often drive them away from the gaming platform.
With the successful launch of B2C a sport betting choice on www.buddybed.com last October, with integrated monetization on the third party's sites in February 2013, BuddyBet intends to rock the status quo in the gaming world with the introduction of a user friendly method of monetizing mobile and online games.
With the combination of concepts of P2P betting and internet gaming, BuddyBet will allow gamers to be able to raise the stakes when they place bets against opponents.
This strategy increases the gamers experience, and the game developers are able to provide, a much more user friendly, method of monetizing their games at the same time, to be able to maintain an uninterrupted and pure gaming experience than can be produced through other gaming methods.
BuddyBet has gained momentum in the sports media industry, with a productive partnership with DSG, where their platform has been integrated with over 180 websites that include Footymad.net, and they have seen their platform integrated, across more than, 180 websites that includes the Footymad.net, and they are now doubling up on that success, with an increase of their platform that extends across a larger areas of the gaming industry.
Increasing game play time
The initial results show that by allowing gamers to be able to participate in highly skilled betting challenges with opponents, means that the games become 'stickier', and this increases the time players spend playing games on the websites itself, which increases brand loyalty.
BuddyBet uses an automated skills matching engine, they are able to match players that have similar skills levels, this ensures that bets are place, in a situation that is fair, and will add to the competitiveness of the game.
A research that was conducted in 2013 by Digi-Capital, estimates that mobile and internet gaming will be worth $83 billion by the year 2016. But, last year social gaming investments dropped by $1 billion, this makes social gaming monetization a contentious issue.
Big and small game developers, face similar challenges, with regard to the monetizing of their games, said Mr Jarrod Epps, who is CEO of BuddyBet, especially with regard to advertising on their sites, with banner and their methods of advertising which annoy players.
Mr Epps believes that skilled games betting is an effective method of monetizing games, without negative implications, for user friendly and pure experiences that happen with other monetizing methods.
BuddyBet is offering a fun and effective method of letting gamers be able to support the developers that they prefer, and this recent round of funding will be crucial to their efforts to fulfill this objective.
What is BuddyBet?
BuddyBet is a combination of social networking with online betting, this offers sport fans, social betters, and gamers the opportunity to challenge other players to the P2P betting, or to make bets against rival fan groups, for cash wagers, virtual money, or for forfeits. Users will be able to bet on the BuddyBet website or using customized versions of the product which has been placed on other websites and on mobile games.
The integration of BuddyBet's high skilled betting platform will bring proven benefits for games, for instance, user friendly monetization strategies, and increased stickiness for the sport and gaming websites.
Jarrod Epps, the CEO of BuddyBet, launched the first BuddyBet website during August 2012. The purpose was to solve the problems of settling the long standing bets that had been agreed between friends and to also add a social and fun element to betting online.