Casino News: Rumours abound about Facebook allowing online gambling

Could it be true? Could the social networking giant Facebook be entering the online gaming market? Facebook users can already trade with a virtual currency, known as Facebook Credits, which are used in apps such as social games. Although it is only a rumour at the moment, there is the possibility that Facebook could open up its platform to online gambling as soon as early 2012.

The social network has already held exploratory talks with around 20 online gaming experts, social gaming entrepreneurs and consultants.

It is alleged that Facebook is aiming to hand out eight licences to various online gaming operators. This will only apply in regulated markets such as the United Kingdom.

At the moment, talks are confined to the United Kingdom, as most states in the North America do not allow online gambling. If the UK allows gambling apps to go ahead, it could be a trial for other countries.

One anticipated hurdle is how Facebook will verify the age and identity of players. After all, it is relatively easy to lie on a Facebook profile. It is also unknown what payment methods will be used, and what percentage cut Facebook will take from the operators.

Currently, Facebook takes a 30% cut of the revenue earned through Facebook Credits, and since it is a private company, it does not need to disclose how much it makes from the virtual currency.

In the past, Facebook has been exceptionally strict when it came to allowing online gaming companies to advertise, but recently, the company has relaxed its rules.

At the moment, this is speculative rumour, and a spokesperson from Facebook says “We’re always in discussions with companies about lots of different ideas, but we don’t comment on future plans or speculation.”