Social gaming platform, Playfullbet, has been acquired by digital technology enterprise group, EXOGROUP.

According to the official announcement…

Founded in 2012 by former professional poker player Pol Ruiz, Playfullbet is a free-to-play social sports game and is 8 million users strong.

How to play:

Free virtual coins are given to players to use to place bets on a range of sports match verticals including basketball, football, baseball, tennis, rugby and e-sports. When players have correctly bet the outcome they receive the virtual coins. Once a sufficient amount of coins have been accumulated, they can be cashed out for prizes. A range of electronic devices are included in the prizes, such as smart TVs, gaming consoles, video games and smartphones.

What to play on:

Players can enjoy Playfullbet on mobile, desktop and iOS and Android apps, where the social gaming platform reportedly has 2 million installs.

Social gaming:

The social aspect to Playfullbet lets players who are registered create their own profiles, make friends with other players and follow them on the platform. It also allows them to see player rankings of who is placing the biggest bets for matches, collecting badges, as so forth.

Players can also join together and form “pools” where sports matches can be bet on as a group.

Target audience:

Males ranging in age from 18 to 35 are the social gaming platform’s target audience. Its largest market is Spain, where Playfullbet reportedly has 4 million users. Latin American countries follow with 3.2 million users, with the remainder spanning Europe and the rest of the world.

Income sources:

A broad range of advertising revenue streams are the source of Playfulbet’s income. They include online advertising with banner display and native advertising (CPM): advertisers include electronic devices, video games, online gambling websites, and user retargeted advertising sources such as Amazon Affiliate for video game App installations (CPI) and sports betting platforms.

Players can also win extra virtual coins for installing apps, joining sports betting platforms, watching promoted videos, completing surveys, etc.

Chief Executive Officer and founder of EXOGROUP, Benjamin Fonzé, said…

“We welcome Playfulbet to our group of companies to join ExoClick, EXADS, AdSecure and MobileCashout. I was very impressed with Playfulbet’s great product offering, market positioning and talented team. The company is a great fit for us as a group because Playfulbet generates its income from online advertising, which is a business we know inside and out.”

Also commenting on the acquisition, founder and Marketing Director of EXOGROUP, Pol Ruiz, added…

“EXOGROUP and its companies have a deep understanding of traffic acquisition, monetization, business intelligence, all backed up with its own technology. With additional sales, marketing, human resources and financial support we can now really scale up our business globally.”