Dave & Buster’s, the popular arcade giant, is taking gaming to a whole new level with the introduction of social wagering on its app. Soon, customers will have the opportunity to place friendly $5 bets on various arcade games such as Hot Shots basketball and Skee-Ball competitions. This new feature, set to launch in the coming months, aims to increase engagement among its loyal customer base and potentially lead to increased time and money spent at Dave & Buster’s venues.
Dave & Buster’s, which was established in 1982, has grown to over 222 locations across North America. Offering a wide range of entertainment options including bowling, laser tag, and virtual reality, the company boasts five million loyalty members and attracts 30 million unique visitors each year. In addition, its stock has seen a significant increase of over 50% in the past year.
To implement this innovative betting feature, Dave & Buster’s has partnered with Lucra, a gamification software company. Lucra was founded in 2019 by Dylan Robbins and Michael Madding, former classmates at Stanford Graduate School of Business who previously worked together at Goldman Sachs. The company has raised approximately $14 million in funding from notable investors such as billionaire Marc Lasry and professional athletes John Isner, Julie Ertz, and Zach Ertz.
Lucra’s software platform allows users to compete for real money on friendly competitions. By capitalizing on the recreational wagers that take place between peers, Lucra aims to create a new digital experience within Dave & Buster’s ecosystem. The company’s games are skills-based, meaning they do not fall under the same licenses and regulations as gambling operators’ games of chance. Lucra is careful to avoid using terms like “bet” or “wager” to describe its games, instead referring to them as “real-money contests or challenges.”
Lucra’s contests are available only to players aged 18 and older and are currently accessible in 44 states. The company has recently signed deals with Dupr, the pickleball ratings system, and TennisOne, a tennis app, allowing players to compete against each other for real money. Lucra’s app has already garnered 150,000 downloads, facilitated over one million unique contests, and collected more than $20 million of handle.
The social betting category is a booming $6 billion industry, according to gaming research firm Eilers & Krejcik. Several companies, including Fliff and ReBet, have emerged in hopes of emulating the success of the gambling industry and capturing the attention of younger markets.
Dave & Buster’s decision to introduce social wagering reflects the growing trend of gamification and its potential to enhance customer experiences. By allowing loyalty members to compete with each other and earn rewards, the company aims to deepen engagement and encourage increased spending at its venues. With Lucra’s gamification software and the excitement surrounding the ability to place bets on arcade games, Dave & Buster’s is poised to create a new wave of entertainment for its loyal customer base.
In conclusion, Dave & Buster’s is revolutionizing the arcade experience by introducing social wagering through its app. This partnership with Lucra, a gamification software company, allows customers to place friendly bets on popular arcade games. By capitalizing on the booming social betting industry, Dave & Buster’s aims to increase engagement and encourage customers to spend more time and money at their venues. With the launch of this innovative feature, the company is set to create an unparalleled gaming experience for its loyal customers.
