Facebook will soon allow the British to play for real money in the social network. Yesterday, in partnership with Gamesys the social network giant launched an on-line version of Bingo games in the UK, which will allow anyone over the age of 18 to win real cash.
In a statement issued to mark the launch of new app, Facebook rep Linda Griffin emphasized that gambling is legal in the UK and is regulated by local laws, and so company wants to give social network users in the UK an opportunity to make money betting and gaming on Facebook.
This is the first time Facebook is entering the field of gambling, but has no plans to start it in other countries. Typically the company takes 30% revenue from all other games that run on Facebook like from the sales of virtual tractors and seeds in FarmVille.
In regard to the nature of revenue sharing from real cash games with partner Gamesys, company rep. Ms. Griffin refused to comment.
The move can be seen as an effort by Facebook to reverse the negative revenue growth in the last quarter, which fell sharply to 32% from 100% clocked during the same period last year. The company has been striving hard to meet the initial expectations of shareholders at the time of its IPO in May, 2012 as its shares have been constantly falling in value since then.
Shares of Facebook were trading at US$21.26, down 3%, Tuesday afternoon on the Nasdaq.
Facebook has tied up with Gamesys, an online gaming company, to launch its gambling app for adult subscribers in the UK (Image credit Financial Post)
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