So is this how Facebook is going to make money?  Facebook is now allowing real-money gambling apps into its app center.

The first app went live yesterday Bingo and Slots Friendzy  – bet a penny and win £56,717 ($88,000).

The app – which currently runs 6 casino games (6 slots and 2 ‘bingo’ games) – is from UK gambling app developer Gamesys – of jackpotjoy fame, and promotes itself as the “World’s first Real Cash Games on Facebook”.

Facebook typically takes a app-store typical 30% cut on transactions but has not confirmed whether this is the case for gambling apps.

Currently only available to Facebook members who know how to negotiate a geo-gate (UK) and age-gate (18+), the gambling games are creating predictable controversy for their child-appeal – cartoon-style characters that have been likened to the popular Moshi Monsters kids game (there’s already an shutdown Facebook gambling group).

Getting US Facebookers en-masse into gambling may be more tricky – given restrictive US gambling legislation (this may also explain why you can pay with anything except Facebook Credits right now). But where there’s a will…

To entice new players into the world of Facebook gambling – the gambling app from Gamesys is offering a bonus credit of up to $300 (£200) when you charge up your gambling account.  For those concerned, Facebook hides your gambling activity on your timeline.

With the legal gambling market worth an estimated $335 billion (in 2009), is Facebook’s new bet to become a gambling platform a smart move – or is it a case of gambler’s folly?  Business Insider suggests that for the heady valuations of Facebook to materialise – Facebook’s best bet is to become a successful gambling platform.

Your thoughts? Is Facebook gambling a good bet?



Today’s article is sponsored by Milyoni: The Leader in Social Entertainment