Paddy Power to Launch In-Play Sports Betting on Facebook
Live cash betting is to become available on Facebook for the first time since Paddy Power teamed up with the social network on a sports gambling launch.
The bookies has test launched the concept with 2,000 users in the UK. The Chief Executive of Paddy Power, Patrick Kennedy, said that “we hope to launch more broadly in the next six to eight weeks depending on the learnings from that [test period].”
It took 12 months to develop the concept and it is the first company to successfully launch in-play sports betting on Facebook.
Kennedy went on to say that, “In the US alone, consumers spend what amounts to 100,000 years in one month on Facebook, and betting is an inherently social activity. There’s no doubt that the online consumer is consuming social media disproportionately. People won’t be able to see each other’s stakes or their winnings, but they will be able to see if they choose to: bet selections you’re making, the hot index of who’s doing well, they’ll be able to challenge bets, laugh at bets.”
Paddy Power has 10 million Facebook fans and online revenue makes up 20% of its business. The company expects that online mobile will represent 90% growth in the next five years.