Canada’s Snipp Interactive Inc., a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector, announced it has entered into a binding acquisition agreement with each shareholder of Gambit to acquire Gambit Digital Promotions Inc., including its wholly-owned subsidiary Gambit Rewards Inc.
Gambit is the market’s regulator-approved consumer network that is the pioneer in integrating loyalty programs with online gaming and sports betting in America. Gambit’s proprietary and patent-pending platform for turning loyalty points into free-to-play tokens (“Loyalty Gaming”) provides leading brands across the United States with a unique solution to unlocking the $100 billion value in unused loyalty points, while at the same time offering fans a new way to engage with the high-growth vertical of online gaming and sports betting.
Launched in 2019 as a solution for gamifying rewards programs, Gambit players can use various loyalty points to play for actual cash winnings, cryptocurrencies, charity contributions or other prizes, without risking any real money. Gambit enables players to convert their accumulated points in their existing rewards programs to Gambit Play Tokens, which can then be used to participate in online gaming and live sports betting opportunities, and to spend their Gambit winnings on a variety of growing incentives.
All activity is centralized at www.gambitrewards.com, creating a single hub for Loyalty Gaming across the entire rewards landscape. Gambit’s early investors include well-known gaming executives and entrepreneurs Matt Davey and David VanEgmond.
The completion of the acquisition of Gambit is subject to customary closing conditions, including, but not limited to, the applicable regulatory approvals, including the approval of the TSX Venture Exchange.
