The potential of using video games in education was highlighted more than a decade ago. Since then a game-based approach to education has been gaining momentum especially over the last five years. From a managerial perspective perceived value of collaborative learning methodologies and satisfaction are important indicators of quality of education. Moreover, Master Degree programs awarded with Quality Accreditations by national organisations (i.e. ANECA, AACSB, etc..) must deliver value to students and achieve higher levels of satisfaction among students every year. Because gamification can increase students’ perceived value with their learning process, Master Degree managers can use gamification to increase students’ satisfaction with the programme. Despite these managerial and academic relevance, little is known about individual beliefs that can lead students to increase their perceived value of new learning methodologies such as gamification. This research aims to fill this gap in the academic literature by focusing on how the use of gamification methodologies can improve Master Degree student's perceived value and satisfaction. A gamified activity was carried out in 2016-17 through online interactive quiz Kahoot, which has been used by more than 30 millions of teachers since was created in 2011.Students worked in teams. After the Kahoot, all participants filled a questionnaire. We analyze the role of utilitarian, and hedonic antecedents of value through a fuzzy-set qualitative comparative analysis (fsQCA). The results reveal the complex, dynamic and idiosyncratic nature of collaborative learning phenomenon identifying that it is not the antecedents per se that can lead to the students’ perceived value but a configuration of these antecedent conditions (i.e. perceived usefulness, ease of use, flow of activities). Thus, the study’s results extend our understanding about collaborative learning activities and tools and significantly contribute to the development of thinking in collaborative learning field.Managerial implications for education institutions are provided.