While they might like a scam to you; millions of players log into their favourite free-to-play websites every month in the hopes of winning that elusive, life-changing jackpot. But in the face of ever increasing online fraud and scams, the free-to-play styled gaming world is not only alive and well, it is in fact thriving.
So just how are free-to-play games carving out a significant piece of a $200 billion a year market?
Richard Goldstein, Operations Director for Neezy Technologies, an investment house with a focus on egaming, says that, “Like running any successful business you need to know your market, offer them value and keep them coming back for more.”
One of the free-to-play platforms funded by Goldstein is Free Lotto Fest, a free-to-play lotto style game where players select lucky numbers and match their numbers against independently drawn numbers, much like a traditional lottery game. Free Lotto Fest is already well on its way to becoming a commercial success, with a registered player base of thousands of players despite only launching at the beginning of the year.
Goldstein has said that Free Lotto Fest’s success is down to the fact that the product is so easy to sell. “Who wouldn’t like to play the lotto, and also never have to pay the price for tickets.”
But how do free-to-play games get the money to pay for the prizes they give away?
This is the leading reason as to why so many people think that free-to-play online games are a scam. “We use a combination of advertising revenue, paid survey revenue and optional premium subscription revenue to pay out our prizes” says Goldstein.
And it would seem that the revenue earned by these companies are doing more than just paying out prizes, as an increasing amount of online gaming companies are making the switch to free-to-play platforms.
“It’s becoming a more viable business model as legitimate companies are finding ways to set themselves apart from scam websites,” says Goldstein.
Investors and players alike would do well to keep their eyes and ears on the emerging free-to-play online games, and who knows; the next multi-million dollar winner that you read about might not have struck it lucky in the Powerball or National Lottery, it could be Free Lotto Fest.