Skill?based games allow players to compete head?to?head with one another via the Internet for small stakes.
MGT Play, hosts online competitions in popular casual game genres including cards, sports, puzzles, strategy, arcade and more. The games can be played for fun or cash and are easy to learn, according to company press materials. Contestants can test their skills against players from the U.S. and around the world to win money while playing favorite games, and attempt to win a share of the $10 million in annual prizes already being won by members that play on MGT Play's partner site in Germany.
The U.S. skill-based gaming industry saw revenue of $2.5 billion in 2013 alone, and is projected to surpass $9.0 billion in annual revenue by 2017, according to a national consumer study conducted by Frank N. Magid Associates. Skill-based gaming distinguishes itself from gambling in that skill gamers win based on skill while gamblers win based on luck. Online gambling is legal in only three U.S. states, whereas online skill based gaming is legal in 33 states.
"With the launch of MGTplay.com, we are now in a position to fully monetize our subsidiary MGT Studios with the first of two ventures,” said Jeremy Avin, general manager of MGT Capital in a prepared statement. “MGT Play presents the top games in a sleek design offering users competitive and quality choices in online gaming entertainment. Research shows that 8 percent of the U.S. population currently plays skill-based games for money online, and that figure stands to grow with the emerging mobile market. By partnering with an established company, M2P Entertainment GmbH, MGT has a strong foothold in this fledgling industry."
For more information, visit www.mgtci.com.
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