Dave and Buster’s, a popular restaurant and entertainment chain, is looking to enter the betting business by partnering with gamification technology company Lucra to tap into the $6 billion social betting sector. This move comes in response to the growing trend of online sports betting apps over the past five years. The partnership aims to allow Dave and Buster’s five million loyalty members to make small bets, likely between $5 and $10, on arcade games through the company’s app. This marks a shift in the gambling industry, as it introduces technology that enables users to make wagers on low-stakes social games, rather than traditional sports betting.
With approximately 222 venues across North America and nearly 50 million unique visitors a year, Dave and Buster’s is a well-established player in the entertainment industry. The company’s decision to venture into gambling reflects a strategic move to capitalize on the growing popularity of social betting. By partnering with Lucra, Dave and Buster’s aims to offer its customers a unique and engaging experience that combines entertainment with the thrill of making small bets on arcade games. This move aligns with the company’s goal of diversifying its revenue streams and attracting new customers who are interested in social betting.
Lucra, the gamification technology company partnering with Dave and Buster’s, does not classify its product as traditional gambling, but rather as a skills-based game. By avoiding terms like “bet” or “wager,” Lucra aims to circumvent the regulatory requirements that typically apply to gambling operators. This strategic approach enables Dave and Buster’s to potentially launch its new program in a short amount of time, as it would not be subject to the same permitting and regulatory hurdles as traditional gambling operations. This innovative approach to social betting signals a shift in the industry and presents new opportunities for companies like Dave and Buster’s to expand their market reach.
Despite the potential benefits of entering the social betting sector, some fans of Dave and Buster’s remain skeptical about the move. Concerns have been raised about the implications of introducing small bets on arcade games, with some users questioning the need for Dave and Buster’s to take a cut of the wagers made through its app. It remains to be seen whether there will be any fees associated with the new service, as Dave and Buster’s has not yet disclosed this information. The company’s decision to enter the gambling industry has sparked discussions among its customers and enthusiasts, highlighting the diverse perspectives on social betting and its implications for entertainment venues like Dave and Buster’s.
In conclusion, Dave and Buster’s entry into the social betting sector represents a strategic move to diversify its revenue streams and attract new customers. By partnering with Lucra, the company aims to offer its five million loyalty members the opportunity to make small bets on arcade games through its app. This innovative approach to social betting introduces a new dimension to the entertainment industry, blending gaming with the excitement of making wagers on low-stakes games. While some fans may remain skeptical about the implications of this move, Dave and Buster’s is poised to lead the way in exploring the possibilities of social betting in the gaming and entertainment space.
