Snipp Interactive has acquired customer loyalty network Gambit Digital Promotions, subject to customary regulatory approvals

Snipp Interactive has acquired customer loyalty web Gambit Digital Promotions, content to customary regulatory approvals.

Gambit, of which Gambit Rewards is a altogether owned subsidiary, is a consumer electronic network which integrates online gaming and sports betting in the US with customer-facing loyalty schemes.

The company’s platform is built around turning loyalty points accrued by consumers into free-to-play tokens. Gambit estimates that roughly $100bn of loyalty points crosswise the US are unused, offering both betting operators and consumers a resolution to an untapped market.

Gambit's players can exercise these trueness points to recreate for hard currency winnings, cryptocurrencies, charity donations or other prizes, without risking any of their have money.

Atul Sabharwal, Snipp Founder and CEO, said: “This strategical acquisition benefits us at multiple levels. It allows us to forthwith bid our clients a really unique get that taps into the online gaming & sports betting super trend.

"This will enable futurity revenue streams based on data analytics and targeting to accompaniment our core offerings today, and spread out our portion of pocketbook with clients.

“What gives me the sterling(a) console inwards making this acquisition is the asset-light operating construction of Gambit that minimises our risk, patch creating the potency to pitch meaningful shareholder value.”

Richard Pistilli, CEO, Gambit, said: “We are thrilled to join the Snipp fellowship and accelerate our elaboration plans. Gambit’s end is to relieve oneself trueness points playfulness again. Our players canful have the same thrills and fervour of betting on live sporting events or other games of chance, but without wagering real money.”

While the good terms of the sell are noneffervescent to be finalised, and depicted object to closing conditions and regulatory approval, a purchase damage of $5m has been countersink for the acquisition of Gambit.