Market Overview

Facebook Takes a Gamble on Real-World Gambling

Facebook Takes a Gamble on Real-World Gambling

Facebook (NASDAQ: FB) users who live in the United Kingdom can now wager real money -- and earn real cash prizes -- in the brand-new social gaming app, Bingo & Slots Friendzy.

According to PCMag, the app was developed by Gamesys (the company behind to be a U.K.-exclusive offering.

"Facebook is a place that allows people to connect and share," a Facebook spokeswoman told PCMag. "Real money gaming is a popular and well-regulated activity in the U.K. and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner."

In the United States, gambling is another story. While there are a few states that want to bring online gambling to the masses (usually in a move to raise tax dollars), the rest are concerned about the negative side effects of this venture.

Zynga (NASDAQ: ZNGA) has been rumored to be interested in developing online gambling games for the past several months. Very little has come of those rumors, however.

Meanwhile, other online game developers have stayed away from real gambling. Crowdpark, the creator of the social betting genre, has no plans to produce a game that allows players to bet real money.

"Both social games and online gaming are healthy markets, and together they can accelerate each other's growth," Ingo Hinterding, Co-Founder and Chief Product Officer of Crowdpark, told Benzinga last winter. "Online gambling monetizes very well on a per-player basis, and social games have a huge reach."

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Posted-In: Bingo & Slots Friendzy Crowdpark Facebook gambling Gamesys Ingo HinterdingNews Tech Best of Benzinga


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