Facebook launches online gambling apps with Friendzy Bingo and Slots

Facebook has taken the plunge into online gambling by releasing real money  online casino betting games Friendzy Bingo and Friendzy Slot.

Friendzy Bingo allows a player to win up to £5000.

The launch is only available to UK residents over the age of 18.

Despite only launching 8 hours ago, Facebook has been bombarded with bad press over this launch as the Friendzy marketing material is of a child like cartoony nature and is feared to possibly target children.

Facebook has responded by stating that all players will be expected to pass stringent age and identity verification procedures in order to play.

Facebooks share price dipped to an all time low of $19 five days ago after it  revealed that over 80 million of its accounts are fake. Since its Initial Public Offering, the Facebook share price has constantly dipped with investors losing faith in the social network.

However, delving into online gambling may just be what the social network needs to survive and retain investor confidence.

The Facebook share price currently sits at $21.97 after initially launching at $38.