‘Bingo Friendzy’ Offers UK Players Real Money Social Gaming

From Facebook credits to real money gaming all eyes in the internet gaming industry are on Facebook’s new real money gaming app. The app was launched in the UK in early August. Many analysts say that Facebook is turning to real money gamine to generate new revenue streams. The social networking giant’s IPO did not go as well as planned and the company is under immense pressure to perform. The real money bingo games are only available in the UK and are only open to those 18 and older. The new Bingo & Slots Friendzy app was developed by gaming giant Gamesys which is one of the UK’s largest online gaming companies.

Gamesys was founded in 2001 by Noel Hayden and since then the company has grown and has established several online entertainment businesses. Gamesys is licensed in Gibraltar which is on the UK gambling commission’s ‘white list’ of approved licensing jurisdictions. Many UK internet gaming companies are located outside the UK for tax advantages but these may disappear when the new ‘point of consumption’ tax is implemented in the UK. Facebook chose the UK to launch the new games because the UK has liberal gaming laws and a mature online gaming market.

Online bingo games first appeared on Facebook in 2010. Bingo & Slots Friendzy offers players loads of ball, bingos and slots. Users can access community progressive jackpots, Friendzy Bonus, Friendzy Time, and Invite a Friend Rewards. Players must register and Gamesys will verify the player’s age and location. Users outside the UK may not access the games. Facebook has said that ads for the games will not be served to those under 18 or those located outside the UK. If the games are successful Gamesys may have some competition soon.

Marc Pincus, the CEO of game developer Zynga, announced that his company plans to introduce their own real money social games during the first quarter of 2013. After licensing Pincus said his company plans to release their games into countries that are regulated and open to internet bingo and gaming. Zynga plans to market their products outside the US since that country has taken a prohibitionist stance on internet gambling. Gaming experts say a GOP victory in the upcoming US elections could doom all legalization efforts for at least four years. In the meantime most countries are establishing regulated internet gaming markets and will benefit from the tax revenues generated by the games.