The online gaming industry has far crossed the nascent stages and is developing and maturing at an exponential rate with profits that are attracting millions of businesses and industries to develop their own mobile games and dip in this ocean of high revenues.
21% of Android and 25% of iOS apps downloaded are games. Moreover, according to GameAnalytics, in Q1 2020, the number of mobile gamers grew from 1.2 billion people to 1.75 billion per month, marking an increase of 46%. Such stats showcase mobile games’ power and serve as a motivation for why you should have your own mobile game.
Mobile games are at their peaks, and they have become a pocket-friendly option of entertainment and fun for users worldwide. They have proved their worth as a revenue-generating machine, however, it is still a mystery for some people how mobile games generate revenue. Let’s have a look at this first.
How mobile games earn revenue?
There are four monetization strategies that are widely used for mobile games. They are:
- Paid Games:
The first way to earn revenue from mobile games is by launching the game as a paid game. In such games, the users can download the game only after purchasing it first. This means the more users download your game, the more revenue you will earn. This is the simplest way of earning revenue using a mobile game.
The next way is by advertisements. Advertisements have been a prime source of income in the entertainment industry, and what is a better source of entertainment than games? Moreover, to show the complete advertisement to the users, the game provides them with special items at the end of the ad, and therefore users happily watch the ads.
- In-app purchases:
In various hardcore games like PUBG, players invest a lot of their time in the game. Their emotional investment in the game facilitates in-app purchases. The player will buy certain in-game special items or monthly subscriptions to get special items. The makers will earn by selling those special items or memberships.
- Real Money Games:
The latest entry in this list is the Real Money Games. In such games, the players will play the game for real money. There will be a boot-in amount that each player has to play before starting the game, and then the winner will take all the money. The maker will take some part of the money, and therefore they will earn from this. Moreover, it is the most profitable revenue-generating method as the revenue will be generated for each game that the player plays.
Are Real Money Games legal?
There is a vast difference between gambling games and real money games. The games that fall under the real money category are skill-based games. Moreover, when we look at real money games, they are not just casino games, there are other games like Ludo, Subway Surfer, and many other games that are played as real money games. Let’s understand what makes real-money games legal.
If the game is chance-based, then such game is considered as a gambling game, and it may or may not be considered as a legal game, depending on your state or country laws.
If a game is a skill-based game with stakes involved, it is a real money game.
Now to consider a game skill-based or chance-based, a two-step test is used to determine the same.
A player should be able to choose to lose the game.
For example, in Snake and Ladder, you cannot choose to step on a number that has a snake to lose, and therefore this game will not pass the test.
A player’s performance should constantly and steadily increase over time as they play the game.
For example, in Ludo, when a player keeps on playing the game, their Ludo skills improve, and they are able to form better strategies to win the game.
Therefore, if your game is able to pass the above-mentioned tests, it will be considered as a real money game and consequently, it will be considered as a legal game.
The reason behind the growth of Real Money Games
The global online gambling market size is expected to reach USD 127.3 billion by 2027, registering a CAGR of 11.5% from 2020 to 2027, according to a new report by Grand View Research, Inc.
Various factors have contributed to making the real money game genre reach the peak of the mountain. They are:
- The widespread adaptation of Smartphones:
It has not even been a decade that everyone has a smartphone nowadays, and inarguably, smartphones have become a basic necessity for us. People did not know how to use smartphones or what features do smartphones have, but now, you will see a smartphone in the hands of everyone, and most people are able to use it effortlessly. Therefore as people have smartphones, they are downloading various games just to try them.
- Entertainment Factor:
Due to this Covid-19 situation, people are not leaving their homes as much as they used to do when the situation was normal. As a result, we are stuck inside, and we are dependent on our mobile phones for entertainment. Now when we talk about regular games, they are fun, but the same fun can be doubled when it is merged with the real money factor. Real money games provide mental stimulation, along with fun and thrill.
- Social Platform:
Even if it is an indoor game like Ludo, people cannot go to their friends or family’s house to play the game with them, and therefore such games are no fun anymore. To deal with the same, real money games have social media integrations, and therefore the users can play their favourite game with their friends and family, and thus they can socialize while playing and having fun.
Playing just to enjoy is what we used to do, however, now we have an option to play the game and earn money from that, so who will want to go back to the traditional games? With the wider acceptance of online transactions, playing real money games is very easy, and when the money factor is involved, the game will no longer just provide fun, it will also provide the thrill and exceptional rush feeling that comes with the risk of money involved.
All the above-mentioned factors contribute towards the tremendous success of real money games and serve as the reason why your next game should be a real money game.
- Live sports:
The appeal of live sports events works as an insanely high force that drives the records of the real money games of the charts every time. Fantasy sports earn like crazy in huge sports events. These games provide a cause to the user to be totally invested in the sports, and fantasy games not only increase the fun of gaming but they also increase the enjoyment of the sports. The users will cheer and be invested in the real performance of the sportsmen that they have selected.
The perfect opportunity lies here
The Real Money Genre is still at the burgeoning stage, and therefore this is the perfect time to invest in the same and to blow your profits against the investment off the charts. The growth of the real money genre has been excellent so far, and one can consider Real Money Games as the best monetization strategy as you will start earning as soon as the players begin playing the game.
Moreover, to create a successful Real Money Mobile Game, there should be a proper combination of business activity and gaming knowledge. We at Capermint Technologies can help you develop the perfect real money mobile game using our expertise and research-based full-proof development process.