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Facebook’s Foray into Real Money Wagering

14 August 2012 by Devon Chappell

FaceBook-LogoBy now, you’ve probably heard of, seen or even experienced the world’s largest social network, Facebook, toying around with the idea of online gambling. The number of third-party “fun money” gambling apps such Zynga Poker, Double Down Casino, or most recently, WMS Technologies’ Jackpot Party Casino seems to be growing by the day. And now that Facebook has given a green light to Gamesys’ Slots and Bingo Friendzy app to begin accepting real money wagers from British citizens (where online gambling is regulated), you will be hearing even more about Facebook’s unfolding role in the online gambling industry.

At the moment, Facebook finds itself  “testing the waters” so to speak. Critics of Facebook’s move to begin allowing real money wagers say it could alienate many of its users who are opposed to gambling, while others believe that Facebook simply doesn’t stand a competitive chance against well-branded and established gambling companies – the likes of Caesar’s and several UK betting brands – that have already tapped the online gambling industry.

And, of course, there is Zynga. Struggling to keep it’s shares afloat after a big drop in valuation over the last few months, Zynga is looking to expand into real money gambling ventures as well. The company is rumored to be currently developing slots and casino gaming platforms that will permit real money wagering like that of the Slots and Bingo Friendzy. But here’s the kicker – Another rumor floating about is that Facebook is in talks with Zynga about potentially acquiring the company. That Mark Zuckerberg and Zynga CEO, Mark Pincus, reportedly have dinner together every week, certainly gives cause to raise an eyebrow…or two.

The fact is, Facebook needs to generate more revenue to keep its shareholders happy. And quite frankly, online gambling is a surefire way to do this. Even if there are some user’s who strongly disagree with Facebook’s move to enter the gambling market, it’s most likely not going to stop them from using their Facebook account. Gambling is a part of society and culture…and it’s not going away any time soon. So long as there is demand in regulated markets, it would be senseless for Facebook to not make this a part of its advertising model.

At least that’s what we believe here at OCS. And yes, we have our own presence on Facebook as well. Give us a Like if you too support Facebook’s foray in the real money wager industry!

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