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Facebook bets big with new real-money Bingo & Slots Friendzy gambling app

Facebook signs up for real-cash gaming app Bingo & Slots Friendzy amid revenue troubles.

Facebook fails to wow investors 2012 26 07Enlarge
Facebook released an unexciting earnings report Thursday posting a net loss of $157 million. Investors immediately dropped shares in the company, which fell by 8 percent in after hours trading. (EMMANUEL DUNAND/AFP/GettyImages/AFP/Getty Images)

Now you can make friends and win money on Facebook, with Gamesys, one of Britain's biggest online gaming companies, launching the site's first real-cash gambling application, reported BBC News

A company spokeswoman told BBC that Facebook was not involved with Gamesys' new Bingo & Slots Friendzy app, but declined to say whether or not Facebook would take its usual 30 percent commission from the developer. 

Maybe Facebook will try for a few of the cash prizes itself. The company is struggling to boost profits after revenues were found lower than expected since going public. 

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The new application will only be available in the UK and players must be 18 or over to play for cash. They will also need a credit credit in order to play, said the Telegraph

How will they verify the age? Remains to be seen, but Gamesys is not the only one working on the issue, with Facebook's biggest gaming partner, Zynga, set to launch a gambling game next year, according to BBC

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Facebook told BBC it will use age-gating technology to monitor users, but it was not immediately clear what that is, and BBC did not elaborate.

TechCrunch said the game will not appear in the timelines of under-age users. But can't users always lie about their ages? Presumably. This may be why the game is launching first in the UK, where such activity is more culturally accepted and there is a strong gaming culture, theorized TechCrunch, saying the company is "testing the waters" with Bingo & Slots Friendzy.

Online gambling is a sensitive issue in many countries, with the practice banned in the US, Facebook's largest market, according to The Telegraph

Gamesys also runs Britain's most popular bingo and slots website, Jackpotjoy.com, said BBC

http://www.globalpost.com/dispatch/news/regions/europe/united-kingdom/120807/facebook-bets-big-new-real-money-bingo-slots-frie