Facebook Ventures to Online Gambling in UK

August 7th, 2012 at 6:51 pm
 


Facebook is getting into a new venture in the United Kingdom: online gambling. The popular social networking company, with over 955 million members, gives Gibraltar-based Gamesys the go signal to run Bingo & Slots Friendzy on Facebook. The game allows users 18 years old and above to ditch traditional Facebook Credits and play using real money.

The social networking site will pocket 30% of the money collected by the app, as Facebook does with all other apps.

The decision to allow gambling in the UK, where gambling is more of a norm compared to the United States, is seen as a test on whether Facebook may want to bring such practice across the pond.

Business Insider claims, citing an “industry insider,” that online gambling would allow Facebook to earn by the hundreds of billions. That amount of revenue may seem a bit high, but Facebook would likely to see its revenue growth quickly.

Source: Financial Times, via Los Angeles Times

 

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