Facebook ventures into online gambling

Facebook is venturing into the world of online gambling with the launch of its first application where punters can stake real money. Facebook will offer users in the UK aged 18 and over the opportunity to play online bingo and slots for cash prizes.

“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,” said Julien Codorniou, Facebook’s head of gaming for Europe, Middle East and Africa. There has long been speculation among investors as to whether Facebook and other social networking sites would introduce gambling products to boost revenues. Zynga, Facebook’s largest gaming partner, is hoping to introduce real-money gambling versions of its poker, bingo and slot machine games in 2013.