Betting on Social

    Published in: Latest Intelligence Facebook plus gambling is a formula that makes investors salivate. This week, Virtual Gaming Worlds, an Australian startup, raised $2.6 million just a month after crowdsourcing website Kickstarter pulled the plug on the company’s $50,000 fundraising campaign. Slot machine makers Aristocrat Leisure Ltd, International Game Technology and WMS Industries Inc. combined spent more than $500 million on social gambling acquisitions over the past year. And Morgan Stanley estimates the global social gambling market will expand from $1.7 billion to $7 billion by 2015. According to the bank, half of social gamblers are between the ages of 18 and 40, with Asia and Latin America the most promising growth markets though the US currently represents 40 percent of the market. Social gamblers already number 160 million worldwide, with the genre the fastest growing and highest grossing among social games. Spending on social gambling games averages double that of...

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