Facebook Real Money Casino Magic or Not?
By Brian Grady
Monday August 4, 2014
There is a lot of talk about when real money online casinos will be available on social media platforms such as Facebook but it seems that the time has not yet arrived. Midway through 2014 and we have already seen two Apps which offered online casino games for real money play (RMP) have been pulled from the pages of FB. Those two apps the Bingo and Slots Frenzy was pulled in May 2014 and the Magic 888 Casino App which was just pulled last month. It is encouraging to see that new entries into real pay and play casino style games are making their way to the social mogul but it appears their time has yet to come.
There are still several hurtles that the Social Media world has to solve before they can freely offer casino style games for RMP within their communities. Legally the laws regarding online casino play vary widely from country to country and in some countries such as the United States the laws vary from State to State. For these reasons the FB launches into real money casino games has been restricted to adults within the United Kingdom and even this has had its pitfalls.
The Magic 888 Casino App which was the most recent and the last real money casino app available to the UK Facebook users was launched in Dec 2012 the application was pulled from the pages of FB in July of 2014. The reasons for the failure were twofold, the first reason stated by the company was that the Magic 888 app has had only marginal results in its first 18 months and had not been as successful as predicted. The second and most severe blow to this app was the UK’s new “Point of Consumption Tax” (sounds like a disease) which is scheduled to be implemented December 1, 2014. This new tax will be applied to where the consumption (game playing) occurs and would apply a 15% tax on all bets placed within the UK. These taxes along with the less than stellar success of the App in general were the reasons for its removal from the FB platform.
So where does this leave real money casino play and the social gaming platforms? For now it looks like Facebook users can play some bingo for real money and they can play some of the 200+ casino apps which are available for free. However those who are looking for real money play will no longer find the games on FB. The online casinos are their best bet to play online.
There are many obstacles to offering RMP casino games including age requirements, an evern changing legal environment and the safe and secure manner of providing payments and paying out winners. Fortunately these are being met by the online casino industry which has evolved into a stable acceptable online business which continues to grow in leaps and bounds. I believe time will prove that the social media platforms like Facebook and the online casino marketplace are unique entities that will continue to offer different products to their clientele and may never fully integrate.
Not to worry, Facebook has shown they are able to generate lots of money with their latest earnings report blowing out the market estimates (Q2 2014 earnings up 61%). Many households know that FB is quite skilled at adding on lots of little charges to your credit cards or pay pal accounts if you need that special animal for your farm or more credits to reach that new level in your game. However the Holy Grail, real money casino games is still out of their reach and who knows maybe this is a domain best served by the online casino community!
Good Luck and Have Fun,
The Casino Games Team
About Brian Grady
Brian has been an Internet Consultant and Author specializing in the online gaming marketplace since October, 1987. He is involved in website development, design, marketing and all aspects of running an online gaming website. Brian is a regular contributor of online game reviews and writes meaningful articles about the online gaming world for high profiles sites such as CasinoGames.com.