Ten major sweepstakes operators in the United States have announced the formation of the Social and Promotional Gaming Association (SPGA). This new organization aims to represent companies involved in social casinos, sweepstakes, and sweepstakes casinos.
The primary goal of the SPGA is to ensure the legitimacy and legality of the sweepstakes gaming vertical. To achieve this, the organization has established two committees: one focused on player protection and rights, and another dedicated to compliance with country regulations. The SPGA will host its inaugural public webinar on October 1.
Founding members of the SPGA include Blazesoft, Fliff, FSG Digital, Gold Coin Group, High 5 Entertainment, KHK Games, Kickr Games, Octacom, Rolling Riches, and Woopla Gaming. Notably absent from the list is VGW, the industry’s largest player, which may be focusing on its own legal foundation.
The formation of the SPGA comes amidst growing interest from the American Gaming Association (AGA) in the sweepstakes industry.
Estimates for the size of the sweepstakes and social casino industry vary widely. Gambling Insider magazine cited its value at $3.1 billion in 2022, but this figure was met with skepticism.
Vladimir Malakchi, founder of the Xanada Investments fund, believes the actual GGR of the vertical is significantly higher based on his industry expertise.
