Perhaps, the federal government of Ireland is missing the trick
San Francisco, CA -- (SBWIRE) -- 09/22/2012 -- The online gambling industry is growing each day with a potential to create more jobs and boost tax revenues throughout the country.
Many of us are convinced that BINGO, a very power gambling company, has no connection with social media websites; however, this may not be the case. Just a few days ago, the organization started a new application on Facebook that will allow users in the UK to play the game for money online.
The new project called Bingo Friendzy has become very popular amongst users. Facebook is very careful about its new project and it is making all the right noises about regulations and rules. The social media website says that it will launch the platform legally.
There is no denying the fact that the world’s biggest social network wants the customers to play with their cash in a game of probability. Gambling has never been a popular internet business when it comes to lawmakers. Although websites like Facebook and Twitter never acknowledge it publicly, they do want a share of its profits, reports Irishtimes.com.
The revenue generated by gambling is thought to be big. However, it is never easy to come up with the exact figure. Since gambling is run both legally and illegally across the world, it is hard to give a realistic estimate.
In 2010, the American Gaming Association reported the revenue in jurisdictions where gambling was legal was around $30 billion. The unregulated gambling market is considered to be larger. In Ireland, only the online racing industry was estimated at 1.7 billion Euros. For a country that accounts for only 1% of Europe’s total population, it is a staggering figure.
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