Real Money Gaming Could Help Facebook Build the World’s Largest Online Casino

Recently Facebook entered the world of real money gaming. Bingo Friendzy was launched in the UK in August. The games were launched in the UK because the country has a mature and regulated online gaming market. Instead of taking a prohibitionist stance like the United States the UK passed the Gambling Act in 2005 and established the gambling commission to oversee the industry. The move has worked out well and generates millions annually for the government. The implications of Facebook’s move are huge.

While many  are questioning where Facebook’s next revenue stream will come from real money gambling offers a time tested path towards increased profits for the now public social networking and gaming company. Social gaming has generated a lot of revenue for Facebook and experts say that the option of real-money gambling offers Facebook the opportunity to monetize a larger percentage of its user base. Gambling has provided people the chance to socialize since ancient times. Gamesys, the company behind Bingo Friendzy, said that the social aspect of bingo in the UK makes bingo the prefect choice for real money gambling.

Gamesys described the UK’s bingo culture and stated “Almost every town and city in the UK has a bingo hall, where friends and family members come together for a night out to have fun and a little flutter. Online bingo has been immensely popular in the UK for years and lends itself very well to Facebook, as the cornerstone for its attraction is the sense of community that it builds for members.” Gamesys also pointed out that the UK online gambling is a mature market with established communities and websites. While Facebook achieved its present position by being a leader and innovator is the world of social networking the company must enter the UK online gambling market without a lead on the competition.

Facebook is stressing that the new app was wholly developed by Gamesys. A Facebook spokeswoman stated “Real money gaming is a popular and well-regulated activity in the UK, and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner.” Since Facebook can place most of the risk on third party developers there is no downside for Facebook entering the real money gaming industry. Experts say that Americans should not expect real money gaming from Facebook anytime soon. The upcoming presidential elections may well determine the fate of online bingo and gambling in the United States.

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