Facebook interested in UK Online Gambling

Rumor has it that Facebook; the biggest social network might be considering opening its platform to UK Online Gambling.  This will not involve Facebook Credits but real money.

Facebook is already dealing with virtual funds, called Facebook Credits and those are used on social games as offered on the application. But Facebook thinks it is now time to propose real money funds throughout online gambling companies. Facebook plans to go ahead with this project in early 2012. They already had talks with people involved in the online gaming industry on this project.

Facebook will be issuing licenses to regulated UK online gambling companies, namely 888. So that means that those high profile online operators could soon be available on Facebook. This offer is only available to UK companies as the US prohibits online gambling. If the deal works with the UK, Facebook might consider doing the same kind of business with other countries.

All this is currently just talks and no one knows for sure when the project will actually be launched. And Facebook could be faced with some serious security issues like making sure there is no underage betting and checking on players’ real identity. Also, they will need to put in place some solid payment solutions, which will cater for the real money side of the system. And it is unclear how much percentage on revenue Facebook will charge online gambling companies.

Facebook currently charges 30% on revenue on Facebook Credits, so the companies involved get the remaining 70%. But Facebook never reveals how much money they make from such deals,we do know that it is a figure that  continues to grow thus the interest in providing gambling games via the platform in the United Kingdom.

Facebook used to be quite set against advertising by gambling companies on their platform. But they have seemingly reviewed this decision and are now allowing online gambling  companies to promote themselves on Facebook but with a clear set of rules which those companies should abide to first.

As mentioned, all this is just a rumour at the moment. Facebook has not made any statement to validate or reject those claims. However, with the popularity of online gambling games and the social media network, there is bound to be some synergy and truth in this rumour.We are sure to hear more about this in the very near future.

Written for Gambling Games by Helen

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