Virtual Sports Betting comes to Facebook
RocketPlay has just launched a new Facebook app “Sports Casino” which provides virtual money sports betting for players.
Mathew Cullen, the president of RocketPlay, believes that the app will be hugely popular as it is free to play and doesn’t involve any real money. Players are able to bet on hundreds of sporting events across a number of sports. If a player runs out of virtual currency they can either wait for it to slowly replenish over time for free or buy more with real money.
It is also possible to bet on games while they are taking place. RocketPlay will calculate the odds for each bet in real time and adjust its payouts accordingly. Cullen, who used to be vice president of BetFair, says that in Europe roughly 80% of bets are placed after a game begins.
The app also includes five casino games to help keep players engaged between sporting events. Players can enjoy poker which probably explains RocketPlay’s partnership with Zynga who operate the most popular poker game on Facebook.
At present there is a lot of focus on online gambling from social gaming companies as they seek to find new ways of generating revenue. The online gambling industry generates over $30 billion in revenue each year.