Facebook Releases Real Money Gaming App

Social media giant Facebook this week announced the release of the Bingo Frenzy Gambling Application, a real money online casino games app that will be available on their site. There has been much buzz and speculation surrounding the launch, a move that many say was made to deliver much-promised revenue results to investors.
 
The social media site will allow for third parties to operate real money betting on the application, rather than virtual money or points, in the UK market. The deal was made between Facebook and the London-based private company, Gamesys Group.
 
Commentators are questioning the move, wondering if the company is desperate for profit and is just doing it to fulfill expectations from its investors. Facebook went public earlier this year, with a more than $100 billion market valuation. Additionally, many are wondering about the issues involving ethics, morality and regulation.
 
The app will include a variety of 90 ball bingo games that will give players the chance to compete for real money.
 
“Gambling is very popular and well regulated in the UK for millions of bingo users it’s already a social experience so it makes sense for us to offer that as well,” stated Julien Codorniou, Facebook’s Gaming rep for Europe, Middle East and Africa.