arcade giant Dave and Buster’s Taking its gaming to the next level by offering social betting on its app.
Customers will soon be able to place friendly bets on Hot Shots basketball games, Skee-Ball games or other arcade games for just $5. The betting feature, expected to be launched in the coming months, will run through the company’s app.
Founded in 1982, Dave & Buster’s currently has more than 222 venues across North America, offering a variety of activities from bowling to laser tag and virtual reality. The company says it has 5 million loyal members and 30 million unique visitors to its stores each year. The company’s stock price rose more than 50% last year.
As the gambling industry boom increases sports fan engagement, digital gamification could have a similar effect on Dave & Buster’s customer base by allowing loyal members to compete against each other and earn rewards. Ultimately, this could mean people spending more time and money at venues.
Dave and Buster are using technology from gamification software company Lucra.
Overview of the atmosphere during The SDI Takeover @ Dave & Buster’s in Los Angeles on June 23, 2022
Tiffany Rose | Getty Images
“We’re excited to partner with Lucra to bring this exciting new gaming platform to our customers,” said Simon Murray, senior vice president of entertainment and attractions at Dave & Buster’s. “This new partnership provides a great opportunity for our loyal members. Delivering a real-time, unparalleled gaming experience and reinforcing our commitment to continue to enhance the customer experience through innovative, cutting-edge technology.”
Lucra and Dave & Buster’s have said they will be limited in the size of bets they allow, but they have not publicly disclosed that threshold. Lucra said that throughout its history, the average bet size has been $10.
Founded in 2019 by Dylan Robbins and Michael Madding, then classmates at Stanford University’s Graduate School of Business, Lucra is a software platform that allows users to compete for real money in friendly competitions. Robbins and Martin previously worked together at Goldman Sachs.
“Lucra helps our partners drive user adoption, increase retention and engagement, and add new monetization streams to their businesses,” said Lucra CEO Robbins.
Robbins and Martin have seen astonishing growth in legal sports betting, but they are trying to capitalize on recreational betting among their peers. The company has raised about $14 million from investors including billionaire investor Marc Lasry, former and current professional athletes John Isner, Julie and Zach Ertz, as well as Raptor Group and SeventySix Capital.
“We are creating a new form of digital experience for people within these ecosystems,” said Lucra Chief Operating Officer Madding. “We are allowing them to engage in new ways and spend more time and money,” he added road.
Lucra said its skill-based games are not subject to the same licensing and regulations that gambling operators face in games of chance. Lucra is careful not to use the word “bet” or “bet” to describe its games.
“We use real money competitions or challenges,” Madin said.
Lucra’s games are only available to players 18 years of age and older. Contests are held in 44 states.
this Social Gambling Category It’s a $6 billion industry, according to gaming research firm Eilers & Krejcik. Several companies, such as Flaff and ReBet, have emerged hoping to emulate the success of the gambling industry and capture the younger market.
Lukla recently dupurPickleball Rating System, and tennis one, a tennis app that allows players to compete against each other for real money. According to the company, Lucra’s app has been downloaded 150,000 times, hosted more than 1 million unique contests on the platform, and collected more than $20 million in accounts.
“Whether you’re playing pickleball with friends or golfing on the weekend, we’re here to help you enhance that experience and work with our partners to digitize it,” Robbins said.
