Facebook Virtual Money Controversy

In the last years, many casinos have taken a stand on Facebook, trying to increase their revenue as the social network continues to expand. Every day hundreds of persons join Facebook, and each one could be a potential client for these online casinos. As a result, every day you can find a wide variety of promotions or novelty games, as these online casinos compete against each other on a new level for popularity. One of the most popular ones, Rocket Frog, was covered recently at Casino Cheers, giving free prizes and doing massive tournaments every week

Virtual Money?

A subject of controversy that has been the rise on the media is that of virtual currency. This means that some Facebook applications give you a small free amount of virtual money to gamble.  Once received you utilize this virtual money to play. When you run out of virtual money, the application gives you the option to buy with real money more virtual money, to continue playing. The catch is, whether you buy virtual money or use the one you are given, the results of the wagers cannot be reclaimed.  At the end of the day you won’t receive any real money.

Gambling Commission

The usage of virtual money is a matter of debate worldwide.  Comes the tricky subject that even though the games can be played for free, if you want to play more than what the virtual money allows you to, you need to invest real money. Then you have other examples, like Sparkling Bingo, online casinos that utilize their facebook account only to increase the traffic of their site, giving exclusive bonuses and promotions. The Gambling in the UK is in the present carrying a thorough study on the matter, to find a solution that benefits both sides.

John Travers, spokesman of the organization, manifested that these Facebook applications present a shady barrier between real money games and other entertainment forms offered by Facebook.  This wouldn’t matter if Facebook was only for adults, but it is a fact that millions of Facebook users are under 13 years old.

Big Bang

Easily these children can have immediate access to this kind of applications and with little problems end up buying virtual money. In the UK this has become quite a controversy, as the implications of this reality are analyzed

As with many subjects, a big and controversial event is required for national organizations to take real notice of the damage something can do. This event comes in the form of a young student of Liverpool that ended up spending more than 7.000 pounds in virtual money while playing on Facebook. After this event, the Gambling Commission in the UK with the task of studying gambling in social networks