Facebook Ventures into Real Money Online Gaming
- 08/15/2012By Pamela PattersonGoogle
- This past week, Facebook unveiled its plans to enter into the casino games online market with the debut of a new application that will allow site users to play for real money games. The application is bingo focused and titled, the Bingo Frenzy Gambling Application. It will be available to users in the United Kingdom at this point only and will include a variety of 90 ball bingo games.
Many have said that the decision to enter into the online casino games market is a move that was done to attempt to satisfy investors who put down significant money when the company went public earlier in the year with a more than $100 billion market valuation.
A third party will run the application. The app will differ from other sites in that it will use real money versus virtual money or points. It was announced that the the London-based private company, Gamesys Group, will be responsible for the application.
There are some who are questioning the move into the top rated online casinos market, wondering whether this is just a way for Facebook to answer investor expectations. In addition, there are issues related to regulation, morality and ethics involved in the launch.
Julien Codorniou, Facebook’s Gaming rep for Europe, Middle East and Africa, stated, “Gambling is very popular and well regulated in the UK for millions of bingo users it’s already a social experience so it makes sense for us to offer that as well.”
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