Those that used Facebook in Britain haven’t been able to gamble for real money for the longest time. Now, Facebook is finally opening its doors to users who wish to gamble over Facebook for the first time. The timing on this is quite interesting with the world’s favorite and most used social network having its revenue growth come to a slow.
On Tuesday, independent gaming company, Gamysys, launched a version of online Bingo for people who are using Facebook in Britain. The condition is that you’re at least 18 years old. The company says that they will pay winners real money, but of course, gambling online is always risky, you never know when someones going to live up to their side of the bargain or not. Gamesys has also announced plans to offer virtual slots gambling on Facebook. There’s been no word as to when this will launch.
If that’s not enough for you, Facebook has also confirmed its partnership with Gamesys to allow gambling on it’s social networking service. In a statement, Facebook has said that, “Real money gaming is a popular and well-regulated activity in the UK and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner.”
Facebook spokesperson Linda Griffin has said that there are no current plans to offer this gambling service in any other countries or with any other partners aside from Gamesys. Griffin declined to disclose what portion of Facebook’s revenue would take from the gambling on the Gamesys games. She did acknowledge that there was a revenue sharing agreement between both of the two companies though.
Facebook currently takes a 30% share of revenue for transactions on non-gambling games on its service. An example of this is when users purchase virtual tractors and seeds in one of Zynga’s hit games, Farmville. You can imagine that they earn a ton of money off of a lot of Zynga’s games that are currently on Facebook. I think it may have just been a smart move to start putting stuff on the much cheaper, Google Play.
Facebook makes the majority of its money from online advertising, which a lot of websites have been headed towards. It’s seen its revenue growth slow very sharply during this past year. In the second quarter, Facebook actually reported a revenue growth of 32%, down sharply from more than 100% growth it delivered at the same time last year. This could be because the Facebook fad could possible be wearing off, but at the same time there was a advertisement service that dropped Facebook due to a internal survey that said most of their hits was all bots. Thus, that company left Facebook. That could be a big reason as to why Facebook’s revenue growth is dropping.
It’s no surprise though, I’m sure many of us expected it coming.
What do you think of a having a gambling service in Britain? Will you be using it at all? Let us know in the comments below! We’d love to hear from you!