Gamesys, the company behind online gambling portals Jackpot Joy & Sun Bingo has just struck a deal with Facebook which will allow British users of the social networking site to stake real money on a selection of bingo and fruit machine games.
The deal which is the first of its kind represents a major coup for Gamesys. Recently it was reported that Facebook was holding meetings with multiple cash gaming providers with the intention of unlocking the lucrative British ‘soft gaming’ market. Industry insiders expected the 888 group to be the first company to get approval from Facebook. However, Gamesys with its in-depth knowledge of UK players and reputation for delivering first-class games got the thumbs up ahead of 888.
The details of the financial arrangement are unknown, but it’s expected that Facebook will receive around 30% – 50% of the revenues generated from the games. Whilst Gamesys will enjoy easy access to the 30 million British users of Facebook. A spokesperson for Facebook confirmed that it is partnering with Gamesys to allow gambling on its network. “Real money gaming is a popular and well-regulated activity in the UK and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner,” Facebook said in a statement. The spokesperson also stressed that the development of the ‘Bingo Friendzy’ app was solely down to Gamesys.
Like many online casinos and bookmakers ‘Gamesys’ is licensed and regulated by the Government of Gibraltar, this allows them to legally offer online cash gaming to British consumers. The most popular brand operated by Gamesys is Jackpot Joy, which currently has over 4 million registered players and pays out millions in prize money every week. Players at Jackpot Joy Bingo will be familiar with the look and feel of the ‘Bingo Friendzy’ app.
Facebook has hinted at the prospect of more ‘cash gaming’ apps appearing very soon. Since Facebook floated in 2012 it’s stock has fallen around 45% and the pressure is on the company to increase revenues. If they can add extra revenue streams from gambling then the future might not look so blue for the shareholders of the worlds most popular social network
Ultimately Facebooks will be hoping that U.S. lawmakers will relax America’s restrictions concerning online gambling later this year. A move that would see Facebook hit the jackpot.