Experts to discuss commercial viability and gambling regulation on Facebook

The debate that started less than a year ago will continue to evaluate the commercial viability of Facebook, conversion rate from social gaming to real-money gambling, propensity of social gamers to switch to real-money gambling and partnership opportunities coming out of the convergence of social gaming and gambling.

Facebook’s sudden and formidable entrance into real-money wagering is sure to draw fast-followers into this ever-evolving landscape.  An online survey, which was launched a few weeks ago by EiG and Kontagent to gather the industry’s views on the widely discussed convergence of social gaming and gambling, indicated that opinions were very divided on Facebook’s appetite for real-money gaming. All those who were sceptical of Facebook moving into gambling have proved mistaken, as earlier this week Facebook’s first real-money offering by UK operator Gamesys was launched.

“As the convergence of casual gaming and social gambling further evolves across other jurisdictions, it’s refreshing to see strategic moves by industry leaders like Facebook taking shape. There’s no reason to repeat the mistakes of the past by other sectors, like music and publishing, and resist the pulse of innovation. The iGaming industry has more to gain by embracing change and evolving business models,” said Hal Bringman, chairman of social gaming for EiG. 

Speculation surrounding Facebook’s interest in gambling has been circulating the industry for almost a year, since it was first revealed in December 2011 that Facebook executives were discussing real-money options with a small group of industry operators. The rumour was later escalated by IGT with the acquisition of social game company, Double Down Interactive, and a number of other partnership discussions between social game developers and gambling companies.

Anticipation will now continue on who will be next, although Facebook denies plans on launching with other operators, as reported by Reuters. Facebook’s new addition will also intensify calls for regulation of social gaming, an area already being monitored by the UK Gambling Commission.

CEOs and top decision makers from companies involved in the space, including William Hill, Gala Coral, Betfair, DragonPlay, Lottomatica, Boylesports, Plumbee, Blitzoo Games, Playsino, 6waves, Sportech, Crowdpark, King.com, Slingo, Yazino, among many others, are confirmed panellists.

Simon Collins, founder of bingo operator Cashcade and currently partner at investment fund NewGame Capital, commented, “After the highly anticipated move into real-money gaming by Facebook, it will be very interesting to see what strategies will be adopted by other organisations from the gambling sector. That’s certainly the question I will ask the attending audience at EiG.”

The 11th European iGaming Congress & Expo (EiG) is taking place in Barcelona on 16-18 October 2012.

More information about the event and registration can be found at www.eigexpo.com.