Zynga, which offers the largest free online poker site in the world, has gone all in with its push to offer “real money play” games.
JP Morgan claims that Zynga can potentially generate $5 billion in revenue after the company announced it was in conversations with interested parties to offer the “cash play” platform.
From BusinessInsider.com:
Online gambling represents a market opportunity of between $3.5 billion and $5 billion, which will be realized by 2015, according to the note.
JP Morgan has set a price target of $12 for Zynga based heavily on the prospect of online gambling within Zynga's games.
On Thursday, the company announced it had added a new Bingo game. Bingo is among the most popular games in the “real cash” online casino sector.
Case in point, Playtech disclosed this week that Bingo revenues were up 9 per cent to €4.1million this past quarter.
By comparison, its popular poker platform witnessed revenues decline 2 per cent to stand at €5.5 million.
The cash cow of the online gambling sector is on the casino end. Playtech reported a 13 per cent increase in the quarter to €32.8 million.
- Aaron Goldstein, Gambling911.com Submitted by Aaron Goldstein on Thu, 01/26/2012 - 20:58
Zynga is reportedly all set to try its hand at online gambling with real money. The social network game maker confirms reports that they are looking for business partners in this new endeavor that they want to get into.
The idea for online gaming came from comments and suggestions from the millions of players of the Zynga Poker online. Most of these virtual poker players have express their interest in playing for real money.
Since it started showing interest in the field of online casino, Zynga has been actively doing a lot of research and looking into all open possibilities while discussing with the partners the details and the great opportunities this new ventured can provide for everyone concerned.
Zynga Poker:
According to a Zynga spokesman, they aim to create games as well as entertaining experiences that their players will continue love playing. This virtual gaming maker has created the world’s biggest and most played online poker game.
There are about 7 million gamers that play the Zinga poker everyday and more than 30 million in every month.
Zynga Online Gambling:
They also announced that they are in active dialogues with prospective partners to gain better understanding and in exploring this new prospect.
As a new explorer in this field, Zynga needs to complete a lot of requirements, which means that it may still take months before anything will start rolling.
There will be lots of regulations that Zynga should go through and licenses to secure to make them a legitimate company for online gambling. Since the games will be provided over the Internet, it will also require the most advanced technology to ensure that the online betting will be highly secure.
There are two options open for Zynga, either take up a partnership or acquire an already working online gaming company. These two options make more sense than starting to enter the online gambling field from the scratch.
Market Data 
Markets 
AI
