Unlocks Value in Consumer Loyalty Programs, Lowers Brands’ Liabilities
MONTREAL and NEW YORK, Feb. 6, 2019 /PRNewswire/ — Solving a problem that has plagued consumers and businesses alike, today Gambit announced the launch of its premier platform, which enables consumers to convert unused loyalty points from across rewards programs. This platform, co-created with mobile-first agency AD:60, turns loyalty points into play tokens for use in its Free Play Games. Customers can opt to play for cash winnings or for charitable donations.
Gambit works across loyalty programs in travel, hospitality, and retail industries. Once a customer chooses which loyalty points to use, those points are exchanged for Gambit Tokens, a new digital play token. Tokens can then be used to play free games based on sporting events – with real cash rewards – or used to make charitable donations to United Way Worldwide, American Cancer Society, Leukemia & Lymphoma Society, Feeding America, or St. Jude’s Children’s Research Hospital.
“We’re taking something of restricted value – unused loyalty points – and transforming it into something engaging. Our players can experience the thrills and excitement of sports gaming, but without real money wagering risks,” explained Gambit Founder, Richard Pistilli. “Consumers can have some fun, and potentially win real money without ever risking any of their own money. Or, if they prefer philanthropy, they can donate their newly found value to great charities. What better time to solicit goodwill than when someone comes upon unexpected money!”
At launch, Gambit also kicks off a partnership with Swagbucks, a leading rewards program that offers free gift cards and cash-back rewards for everyday online activity. Swagbucks members can now turn their SBs (native currency) into Gambit Tokens and use them to play free games with real cash rewards.
“Our mission is to reward our members for the time they spend online every day,” said Chuck Davis, CEO and Chairman of Prodege, which owns and operates Swagbucks. “By partnering with Gambit, we can now offer our members even more options for their rewards, enabling them to take part in additional fun gaming experiences or charitable giving past what we have in our ecosystem.”
Companies are always in search of innovative ways to enhance their customers’ engagement and Gambit offers additional options. Additionally, the International Financial Reporting Standard (IFRS) 15 now stipulates that loyalty points must be treated as deferred revenue, which can weigh heavily on companies’ bottom lines. By letting consumers transfer points for tokens, Gambit creates a way for brands to convert unused points into revenue and get them off their books.
“Gambit effectively reconnects consumers to a vast network where they possess value but can’t access it,” added Alex Matjanec, CEO of AD:60 and Chief Developer of Gambit. “The beauty is that it’s a win-win all around: consumers get to use their loyalty points and can play games with it, or give with it, while brands dramatically reduce their liability. It’s literally a game-changer.”
Gambit is available at www.gambitrewards.com.
Gambit is the first digital consumer network to span the gap between loyalty programs, gaming, and personal philanthropy. The company’s platform enables consumers to convert unused loyalty points from across rewards programs into digital play tokens, which can then be used to collect real cash rewards from free play games, or to donate to national and global charities.
AD:60 is a digital agency that develops robust digital solutions—from mobile apps to web platforms—for everyone from startups to enterprise customers. Since 2009, AD:60 has created web and mobile apps that have lead to million-dollar businesses and produced successful acquisitions from industry-leading brands.
AD:60’s mobile app and web platform projects are on multiple platforms and have millions of downloads. Partners include Ally Bank, Mercer, Nutrisystem, Christie’s Auction House, Northwestern Mutual as well as successful startups like Stash Invest, Siggi’s Yogurt, and Songza (now Google Music).
Swagbucks.com is the web’s most popular rewards program that gives you free gift cards and cash for the everyday things you already do online. Earn points when you shop at your favorite retailers, watch entertaining videos, search the web, answer surveys and find great deals. Redeem points for gift cards to your favorite retailers like Amazon and Walmart, or get cash back from PayPal.
Swagbucks has already paid out more than $300 million in cash and free gift cards. Headquartered in El Segundo, California, Swagbucks is owned by Prodege, LLC, a leading internet and media company that operates multiple customer engagement brands.
About Prodege, LLC
Prodege is an internet and media company that is dedicated to creating rewarding moments for its members. Prodege is comprised of three consumer brands — Swagbucks, MyPoints and ShopAtHome — which deliver engaging content and valuable rewards to more than 60 million members. Our family of consumer loyalty websites and mobile apps rewards members with free gift cards or cash for the everyday things they are already doing online — like shopping, searching the web, watching videos and sharing opinions. Prodege’s complementary suite of business solutions helps brands boost engagement with consumers by making it easy to gather insights, listen to their audience and gain further exposure to drive brand loyalty. Visitwww.prodege.com for more information.
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