Andrea Giuliani, Head of Commercial at WA.Technology – Social Sweepstakes: A Key to Keeping Players Engaged?

In conversation in SiGMA Magazine, issue 30, Andrea Giuliani, Head of Commercial at WA.Technology, outlines why social sweepstakes might be a ‘silver bullet’ to player acquisition woes.

If you’ve attended any industry conference over the last five years, you’ll have noticed that much of the conversation has been centred around player acquisition, engagement, and retention. And with good reason.

The premise is clear: the need for acquisition, engagement, and retention has never been as important as it is now. We’ve seen a huge influx of new operators flood the industry, each looking to gain the lion’s market share. However, with that additional competition and player numbers seemingly staying the same, brands must find new ways to stand out from the crowd. 

So, as many gambling operators shift their attention towards new strategies to onboard players, one vertical that has emerged as a true silver bullet to acquire new traffic is sweepstakes. 

The Growth of Sweepstakes

A report published by Eilers & Krejcik Gaming highlights that between 2019 and 2023, the market expanded at a compound annual growth rate (CAGR) of 85%, driven by significant player purchases and operator revenues. By 2023, the market reached $5.6bn in handle, generating $2.0bn in net revenue.

That same report indicates that sweepstake growth shows no sign of slowing down. Industry experts have forecast that the social sweepstakes sector could reach $11.4bn in player purchases and upwards of $4.0bn in net revenue by 2025. 

This vertical has boomed because it offers entertainment, community, and the thrill of winning at low risk. This is especially the case in emerging markets where players are starting to familiarise themselves with different gambling products.

One of the main reasons for their rise is the social aspect. Bettors aren’t just playing to win; they’re engaging with others, sharing their experiences across social media, and building a sense of community that isn’t available with other gambling products. This creates a stickiness to the platform – people enjoy the interaction as much as the win itself, tapping into a key area of player psychology.

It’s All About Product

As an award-winning supplier offering a full spectrum of iGaming solutions, WA.Technology understands that rolling out a new vertical requires a careful, considered strategy to ensure maximum impact. Fortunately, technologies for acquisition, engagement, and retention are our speciality. The team at WA.Technology has a wealth of expertise in the iGaming industry; we know what it takes to create a product that enables our partners to scale their business to new heights. 

We offer our partners state-of-the-art products, solutions, and services via our WA.Platform, WA.Sports, WA.Casino, WA.Fantasy, and WA.Lottery verticals – each of which is localised and personalised to meet the specific requirements of each of our partners.

While we are excited about the opportunities that sweepstakes will offer, WA.Technology is committed to promoting responsible gaming by ensuring our products adhere to the highest regulatory compliance and social responsibility standards.

What Next for Sweepstakes?

Localisation is central to everything we do, which will be key for sweepstakes’ expansion. We understand that what appeals to players and operators in South Africa will differ from players in Brazil, Mexico, and Peru.

As an essential channel for operators to build excitement among their audiences, we offer one of the best sets of solutions on the market, especially when integrated into social media and mobile apps. Our omnichannel technology enables our partners to focus on rapidly expanding their player base by creating highly optimised mobile-first products, making their offerings much more accessible to the sectors of the population that tend to bet via their smartphones – no matter the limited data challenges.

By partnering with WA.Technology, we can help operators to refine their offerings and remain competitive in the long term. 

But as more operators enter the fray, the question remains: can the market sustain this rapid growth, or will it need to evolve as competition intensifies? 

Only time will tell, but for now, the future of social sweepstakes gaming looks promising. As the go-to B2B platform provider across Latin America and Africa - we are ready to be at the forefront of the sweepstakes revolution. 

‍