What would you think of Meta (Facebook) allowing bets in the metaverse - page 4.

hyudien

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

If you like, where can I find information about this, because so far I don't know anything else behind the revamp of Facebook to Meta. And from this information of course as a gambler I am very interested in how the betting system they are trying to play behind the scenes and whether this will have a good or bad impact on Facebook's reputation as a commonly used social media but there is a hidden part that can be risked to take a share of the profits. from gambling.

KTChampions

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

I have not heard anything about Facebook's plans to enter the gambling business. In my opinion, this is not a very good idea - the competition in this area is very high and on what basis Facebook will enter this area is unclear. If they connect their existing services with gambling, this will lead to big losses - they will have to register as a casino, pay higher taxes and be more strictly regulated.

avikz

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

I can bet against this rumor! Facebook will never enter gambling market directly or indirectly. Yes, they may bring some "play to earn" game and possibly enter into NFT market, but not in gambling. Facebook has already seen many battles to safeguard their reputation and gambling is actually perceived negatively in the society. So they will never engage into such business. Not in our lifetime. I am not sure from where did you hear such rumors.

dothebeats

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I do not see them doing this in the near future, though the possibility of them doing such a platform is always present. They are a company whose ethos comes last when talk of profits is at bay. Presently, after the name change, they would not immediately think of doing such a rash move to protect their image, although somewhere along the road, this will eventually happen, and only time will tell whether this move is destined to fail from the beginning.

Though from what I see here, the metaverse will certainly not take lots of gambling patrons from the existing platforms that service them greatly. It'll be hard to compete against established names in the industry, moreso the culture that is already built outside of the metaverse.

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

I think of this as a dangerous move not for Facebook, or whatever name they have now, but for their customers, I mean we know that a small number of people develop some sort of gambling issue, however Facebook has been know to not care about their customers in order to keep them online, taking into account that even if they are not diagnosed as such there is a lot of people addicted to social media, the combination of a social network with most of your data and which has no limit about how they can try to manipulate their customers this could create an explosion in gambling addiction as we have never seen before.

Lucasgabd

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There's no need to be upset

we have to defend the idea of an open metaverse away from Facebook claws
on they allowing betting or not, it's a double edge sword
on one hand they'll make a lot more money allowing it, on the other hand they lose on public perception and have to deal with stronger regulations,I'd guess they won't allow it but who knows?!

fiulpro

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

The future of metaverse is bleak.
Even though they are talking about reinventing themselves, who would talk about their mistakes and who would actually trust them for gambling in the first place ? I thought their whole idea was to make sure they take charge of their mistakes not sure how expanding their business so suddenly would do that? They have to think about working on themselves first and then adding other thing with it. Plus it would be super controlled, I am pretty sure they would start with their own crypto for sure in few days as well. They already have data of everyone using their applications, I don't think it would be a good idea trusting them for it. It's better to use some other gambling platforms .
Hopefully people would try and understand why they changed their name in the first place before deciding to trust them.

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That is good for Facebook because as we already know the Facebook platform is also integrated with gambling games such as Texas Hold'Em. So if Facebook wants to implement gambling and gaming for money, that will be good for them because they can attract more people to try the games. Besides that, they can promote through their platform easily because they can control their advertisement inside Facebook aka Meta itself.

It needs more control from the young generation to be aware of the gambling activity while they use Facebook because that can make them forget about their daily activity.

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Maybe I'm old-fashioned but you don't get good results when targeting a completely different bunch of people for a completely different type of interaction. You don't advertise gaming to gamblers, nor gambling to gamers, not if you want great results, anyway.

Gamblers look for value, gambling entertainment, excellent customer support, maybe interaction with other gamblers. They're not going to switch over to some fun metaverse Facebook thing to get their kicks. Bitcoin gamblers especially chose Bitcoin for a specific purpose, at odds with many of Facebook's principles.

And Zynga poker players will never be the same type of users as we are.

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Or, we could see another Congressional hearing from their CEO once again. I think Metaverse will operate in a decentralized way and Meta will have the same goal and once again this will raise question especially even to those who are strange and familiar in this space. What I mean is on how it will be moderated or governed? There are still people in the government that doesn't have the know-how yet on how 2D operates, what more in a 3D world or virtual space like Metaverse?

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

Considering all the bad publicity Facebook gets already, I highly doubt that it will be set up with the intention to allow gambling. They'll probably have some form of microtransactions going on and that will include gaming items - like skins or weapons. It might happen further down the line, but Facebook already has a solid amount of big name advertisers that they might not want to possibly compromise that revenue stream if they were to allow betting (which is still shunned by some). Once everything else is going and maybe ten years down the line as it gets more widespread in America (as we see with States getting more lenient) then it might be more acceptable.

danherbias07

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They can if they want to. I do think they have the ability and the resources to do it all. But, the impact on their supporters will be unknown.
There will always be a part against it and those who will support it.
Gaming industry. Years ago, I am playing a lot of MMORPG using the Facebook platform, I forgot the name of the game, I'll add it up once I remember.
Then, they also have Zynga Poker which could be played directly on their page. All they need is a team focused on different industries and maybe some papers for legality. And that's where the real problem will be, legality. Let's remember how Libra was denied by their government.

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If this is something like PVP where players wager their items and these items can be sold in an online marketplace within Meta, I think it should be fine. Perhaps they could put a system to regulate the pricing and not reward their players too much. Remember that Facebook started out with a lot of free games before and people got hooked. Adding an incentive to that will probably get them more users which is what they want.

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Quote from: mitchr4 on November 10, 2021, 02:16:29 AM

I think gambling games on Facebook have been around for a long time. Texas Holdem Poker from Zynga, I don't know if the game can still be played on facebook or not but I see they already have an app. In my country, this game was very popular, we could even buy or sell chips between players.

Games and gambling is different. All that you mention is just a game even though it is widely use for gambling. There is no money involved on all the Facebook games before including those poker, hi-lo and many more. There metaverse will be different but I guess they will not allowed those games that has an involvement of gambling(with real money) that run on them since its against the especially they are on US. It might be ripped off or there company might put at risk incase they allow this.

Mauser

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Just changing the name of Facebook into meta won't be doing much if they don't try and change their image as well. Going into new sectors might be attracting new customers if they haven't been involved with Facebook before. Betting might be one of those areas to get new social media market shares. The question is what is the target group of Zuckerberg now. Does he want to be more active in the 20+ age group or does he want to focus on the younger geverstions. Facebook is more for the older generations, whereas Instagram focuses on all age groups except for kids. For a social media company to remain on top its crucial to involve the younger generations. Betting might be a big counterproductive here because the parents could become afraid of their kids to lose money with betting. Using the current market share to get into gambling is one way to boost profits, or try and increase the market share by engaging more people in social media.

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Quote from: mitchr4 on November 10, 2021, 02:16:29 AM

I think gambling games on Facebook have been around for a long time. Texas Holdem Poker from Zynga, I don't know if the game can still be played on facebook or not but I see they already have an app. In my country, this game was very popular, we could even buy or sell chips between players.

And I remember that people were buying/selling chips for poker! They have slots as well, and all other gambling games!

I guess Facebook is big, and it's not like they are lack money, so if they make a decision to get more involved in gambling they will do it! But, there's always that but, they will probably have problems with regulations! It's for their legal team to deal with it, and I believe Facebook has a big, high-paying, team of lawyers to sort it out for them!

I am not using FB for years, since they asked me to verify myself (KYC), so even if they have go this way it will be with mandatory KYC! So most likely I will not even consider trying them!

timerland

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

Well, in every single MMORPG there has been user created casinos.

I think that this will be no different to the FB metaverse - it'll be incredibly hard for them to regulate betting activity, but I don't think that they will actively partake in it.

That would just add fuel to their PR fire right now and it's not going to yield them much results.

mitchr4

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I think gambling games on Facebook have been around for a long time. Texas Holdem Poker from Zynga, I don't know if the game can still be played on facebook or not but I see they already have an app. In my country, this game was very popular, we could even buy or sell chips between players.

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Quote from: paxmao on November 09, 2021, 05:07:38 PM

It is know that Facebook is trying to reinvent itself, wash its image and becoming a more powerful business. And it is the right strategy, because contrary to other business such as online retail (Amazon), internet searches and sales (Google) or electric cars (Tesla), social networks are more susceptible to ageing customers and trends in the young. However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

I am confident that gambling will continue to evolve in the Metaverse.

At the same time, the concept of gambling will be rethought. You will be able to play with friends and strangers. Moreover, the physical distance between you does not matter.
Also in the Metaverse, your avatar can have any form - centaur, hobbit or elf. Or mermaids, for example.

Money isn't the only bet. For example, the life of your virtual character. In the metaverse, gambling bets will not be money, but NFT.

At the same time, NFTs will not be encrypted pictures, but special programs that implement a special set of rights and capabilities in the Metaverse.

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Quote from: Woodie on November 10, 2021, 01:24:54 AM

While we keep talking about Facebook aka Meta, is this new name change actually taking place because the company name is already being used by another and if they choose to go on with this they will have to throw in a couple of dollars, millions to be exact as the current owners know they have the capacity and they need to buy it off them first.

Quote

However, rumors say that they may actually enter into the betting arena by implementing gambling and gaming for money in the future Metaverse of Facebook. What do you make of this?

All i will say is a successful company knows when to diversify its portfolio to spread risk and maximize on its profits...and tbh this is a welcome move. Welcome to the gambling ecosystem meta.

Which facebook actually knows when to diversify to become successful. They wouldn't be attacked by the fake whistleblower if they are not successful although its not the kind of success that all will like, however.

Meta I think will be open to businesses just like how Facebook was before where companies can have an app using thier servers. If there will be gambling on it I suppose that's how digital currency can have its use. Hope to see DIEM be used in dice games.

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