September Update: Facebook’s move into Gambling

Facebook is in the crosshairs of governments for all kinds of reasons, but maybe governments should accept that Facebook is their friend and start making money like Facebook does.

Facebook continues to capitalize on its magical hold on our lives. Why? Because they enable us to focus on something that captures our attention when we are doing nothing, and that’s a lot of the time… We can individually say “that’s not us,” but collectively we can count the clicks and dollars that Facebook collects.

Facebook is testing new social games where you can guess the outcome of shows and sporting events. The first game soon to be unfurled on your Facebook home page is Pick & Play Sports.

Sport betting is a huge business. It’s projected to be a $10 billion business in 2028. To put it in perspective Facebook’s ad revenues right now are $20.7 billion. The market value of Las Vegas Sands, one of the biggest casinos in the world, is $28.7 billion. It’s a big market.

Right now, Facebook is just inviting you to play a game. Soon, someone will be paying for your opinion.

Facebook won’t get all the traffic but, given they get a lot of our attention, they’re betting they will get their fair share of your bets too.

Facebook makes about $32.03 dollars in revenue off the average North American consumer. If it skims a couple of more pennies off your whim to bet on a game, show, or outcome or an election… It could be huge – not to mention the data that they glean from our views.

Governments are suing Facebook for all kinds of reasons, but governments really just want more money. Maybe they should team up with Facebook and have them run their casinos. There are all kinds of things we could bet a penny on if given the opportunity. Billions of people betting pennies daily adds up to lots of money. Facebook is living proof of the wisdom of collecting pennies en mass. Bingo!

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