Facebook Officially Enters The World Of Online Gambling
Online gambling is nothing new in the UK. Dozens of companies are licensed to offer Internet gambling in the UK, but up until now none of those companies were from the US. Facebook, the largest and most successful social media site in the world, is leveraging their success into an online gambling platform in the UK.
Facebook has partnered with Gamesys, an independent gaming company, and together they will be offering real money bingo. The game is expected to be an outlet to show that Facebook can create revenue through their platform. The online gambling trial in the UK is just the beginning for Facebook, according to many analysts.
“Facebook sees the future of online gambling in the US, with more and more states regulating the industry, so it makes sense that they would start in the UK and test their theories,” said Gaming Analyst Steve Schwartz. “If the bingo gambling succeeds like most expect it will, Facebook may then try to bring the game to American soil.”
The US currently has murky rules regarding online gambling. For decades it was assumed that Internet gambling was illegal in the country, but that assumption was challenged last December when the Department of Justice issued an opinion, claiming that only sports betting was illegal online. That ruling led Nevada, Delaware and several other states to begin the process of regulating Internet gambling.
Nevada and New Jersey casinos are both expected to be authorized to offer online casinos within the next year. Facebook would have to partner with a gaming company that holds an online gambling license in a jurisdiction where the activity is regulated in order to start offering their real money bingo in the US.
Facebook has been enthralled with the notion that they could become a $100 billion company, and several analysts believe that a move to real money online gambling could be the vehicle that makes the $100 billion mark a reality.
Facebook has been generating revenue in the social media gaming community through games such as MafiaWars and Farmville. In these games, players can buy credits that can be used to purchase materials used to help win the games. Facebook receives 30% of the revenue from these games.
Zynga has made the biggest splash in the past year with the announcement that the gaming group will begin offering real money slots and bingo next year. Facebook would be a beneficiary of the Zynga move as many of the companies most popular games can be found on the Facebook platform.