VegasWINNERS, Inc., on Wednesday said it is preparing to launch loyalty rewards and cryptocurrency programs that will include a points system and crypto redemption marketplace.
VegasWINNERS is a subsidiary of Winners, Inc. It provides sports betting enthusiasts with content, analysis, research, data, guidance and professional advice.
The company said points will be earned based upon interactions on the VegasWINNERS and Krush House websites, or other websites based upon predefined actions and rewards. Points then can be converted to Krush Coin, a tokenized currency using the blockchain network. All Krush Coin users will use a wallet assigned to them by the Krush Coin Exchange.
The company said the points system will allow VegasWINNERS to monitor the interaction with its websites and set a point value for each action.
The new crypto token called Krush Coin shall have the following rules: 5 billion coins will be minted; all coins will be held in a wallet controlled by the Market Place; the Market Place will create new wallets for each user; within the wallet a user can convert their points to Krush Coin; initially, gifts or transfers will be allowed between wallet holders within the Market Place; users can choose to redeem their Krush Coin for cash valued vouchers and gift cards.
“We are excited to offer this first-of-its-kind program,” Wayne Allyn Root, CEO of VegasWINNERS, said in a statement. “Our business is all about sports gaming analysis and advice, and sports bettors are by nature high tech and also risk-takers. They are early adopters with new ways of conducting business such as crypto, and we anticipate this will give us an advantage with sports betting consumers and potential business partners in this fast-growing industry.”
According to Root, the global loyalty management market size is expected to grow from $7.6 billion in 2020 to $15.5 billion by 2025, at a compound annual growth rate (CAGR) of 15.3% during the forecast period. He said the growing need for enhancing customer experience and gaining competitive advantage is a key growth factor for the loyalty management market.
VegasWINNERS is a registered sports gambling affiliate that intends to drive traffic to gaming operators for commission. VegasWINNERS is currently registered in West Virginia, Indiana, Colorado and New Jersey, able to operate in Nevada, Illinois and Iowa, and has made application in several additional states.