Friday, August 3, 2012

Collision of Online Gambling and Social Network Games ~ FlashMush

Social networking casino games are on a path of collision with online gambling and this collision is expected to occur this year. The enthusiasm for this intersection, visible at the huge turnout at Global iGaming Summit & Expo, which is taking place at San Francisco this year, was chiefly because of the U.S initiative to legalize state level online gambling.

Previously, online gambling was prohibited but Justice Department has reinterpreted this law, with the result that Nevada legalized online gambling of skilled games like online poker but only in-state. It is expected that other states will soon follow suit. When this happens, an online gambling market worth multi billion dollars is expected to flourish in the US. It is also expected that real online gambling on social networking sites will also be legalized.

This has resulted in acquisitions and mergers of gaming companies ? both online and social ? with each wanting to have a finger in the other?s pie. Social gaming has nearly arrived and the future will be the meeting on online and social gaming.

According to the co-chief executive, Bwin party Digital Entertainment, Jim Ryan, while the industry has managed to get only Bingo correctly, companies like Zynga, promoting social games, have managed to get a huge following. But Malcolm Garaham, an attendee, feels that it will not be too long before the real time gambling will be seen on Facebook.

Social gaming is very popular and it brings in numerous users, wanting free games. But only a small section of these users will be attracted to online gambling. And online gaming companies or websites like http://onlinegambling.com.au should focus on this small section as they will be lucrative customers.

Online gaming has been legalized in most of Europe and there are a number of regulatory issues, one of which is cross-jurisdiction. Many experts are unclear about what would happen is a consumer from a state where online gambling is legalized, uses a mobile gambling app in another state, where it is not legal. Where would he pay the taxes?

There are many complex regulatory issues like fraud prevention and age verification. How will the mobile companies do it? Although this seems to be a big issue, if it is resolved, the company can expect huge rewards since there will be a number of online social networking players betting on casino games.

Before the intersection of social games and real time gambling can take place, it is necessary to identify the point where the two meet. ?

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Source: http://www.flashmush.com/2012/08/collision-of-online-gambling-and-social.html

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