Snipp Interactive acquires free sportsbook and slot provider Gambit Digital Promotions

Snipp Interactive acquires free sportsbook and slot provider Gambit Digital Promotions

It has been announced today that leading loyalty and promotions company, Snipp Interactive, has completed its acquisition of US online gaming and sports betting loyalty program network Gambit Digital Promotions and subsidiary Gambit Rewards.

Specialising in ‘Loyalty Gaming’, Gambit is an operator of a platform, whose patent is pending, that allows users to play games and bet online with free tokens that have been converted from loyalty points.

Additionally, the proprietary platform has been developed to allow leading brands in America to ‘unlock’ the $100 billion value in loyalty points that go unused every day of the year.

By utilising such a platform, brands are not only able to make use of the unused loyalty points, but also boost engagement within the online gaming and sports betting spaces.

Players currently registered with the Gambit platform are able to play and bet for actual real cash, along with cryptocurrencies or charity contributions, using their loyalty points.

This innovative loyalty exchange acts as a marketplace for registered users to exchange their loyalty points with one provider and use them as tokens with another, providing the brands are Rewards Partners.

Gambit Tokens can be used to place free bets on sports in the United States or to play casino games like slots for money without spending a dime.

This acquisition is momentous for both organisations due to the relatively infant stage of the acquired company and the impact of the platform on the US market in such a short space of time.

According to reports, the forecasted online gambling market is to grow to around $112 billion in the next three years, in part due to the rise in online sports betting and iGaming in the United States following the legalisation of the recreational activity in many states.

Richard Pistilli of Gambit commented on the acquisition and what it means for the firm:

We have witnessed a very positive response from the market since joining the Snipp family. In January, we launched a first-of-its-kind joint promotion with a leading gaming operator across live sports bars during the Super Bowl.

We are also now working with several of the largest digital gift card networks, as well as our first major partner in the consumer survey and incentives space.

We expect to add dozens of new rewards programs to our platform over the coming months as we leverage the Snipp network and expertise to accelerate our go-to-market strategy.

Atul Sabharwal of Snipp Interactive also commented on the take-over of Gambit and what customers can expect moving forward:

Since announcing the proposed acquisition of Gambit, a trailblazer in the Loyalty Gaming sector, we have received a flurry of interest from leading players in the iGaming and Sports Betting industry in America.

We are now the exclusive avenue through which our roster of Fortune 500 clients can incentivize their customers with gift cards to engage in iGaming and sports betting on the Gambit Loyalty Gaming platform.

Since announcing the acquisition Gambit has also gained further distribution into new resellers and we look forward to sharing the completion of the integrations with these new resellers in the coming months as they bring the Gambit card online within their networks.

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