Facebook May Enter The Realm Of Online Gambling

Facebook May Enter The Realm Of Online Gambling

Written by: ava carson on 02/12/2011 13:00

The colossal social network may very well be branching out as early as next year into the online gambling market. Facebook who already offers credits for applications is considering a real cash money exchange for gamblers.

Though Facebook won’t confirm or deny it, rumors are running ramped that it is in the works. With over 800 million active users around the world a venture like this could amass a fortune for the already mega profitable site.

According to eGaming Reviewer (EGR), : “The launch time frame is unclear, however Facebook is known to have been heavily promoting its virtual credits to U.K. operators in the last few months as well as investigating ways in which this can eventually be transformed into a real money model.”

Facebook is known to have sketched out a plan to offer an initial eight licenses to eight individual operators, two from each of the four verticals, with the social network being used as a platform for the firms to integrate their apps”. 888 who has Bingo Island on Facebook may be the one of the first to obtain a license.

EGR added: “Facebook could launch real-money play in the U.K. as soon as the first quarter of next year, however EGR understands the finer details of how this would work have yet to be discussed. This includes how revenues would be split between the platform and operators, how the age and identity verification process would work, which payment solutions Facebook would approve for real money play, and the speed in which launch phase operators, that do currently not have apps on Facebook, could create working real money applications on the platform.”

Categorised Under: Bingo News,
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