Facebook Ventures Into Real Online Gambling

Facebook and Gibraltar-based online gambling giant Gamesys ventures into online gaming with real cash involved. Previously, Facebook offers applications where users can play or gamble using merely tokens either freely-offered or purchased such as in "Texas Hold’em Poker" and "Farmville", two of the most patronized applications offered by Facebook.

But for the first time, the world’s most popular social networking hub will dip its fingers into real online gambling, using real money.

The game is called Bingo & Slots Frenzy where players can choose a selection of 90 different ball and slots games using real cash, a sort of online casino for Facebook users.

However, the Bingo & Slots game will only be available in United Kingdom. There is no announcement as of now as to whether it would be made available to the rest of Facebook users in other territories, probably concerned over age limitations and online ethics issues. Facebook and Gamesys have taken measures to ensure that all players will be above the 18 years old age limitation.

It was reported that Facebook will gain 30% of revenues while Gamesys will take a 70% share. Insider reports have pegged Facebook earnings to grow by billions of dollars for venturing into online gambling, as Facebook has aimed to increase its profits as quickly as possible. Facebook top executives have stated that this moves is part of a long-term strategy to keep the company’s earnings on the rise.

While this new venture of Facebook may definitely boosts its company value, there should be anticipation on ethical issues especially that Facebook promotes itself as ultimately safe and user friendly online public module, accessible to almost anyone, primarily aimed at social interaction and wholesome entertainment.

Perhaps, Facebook is holding its rein, observing how the public will respond to this new feature added to its list of applications.