What does Usain Bolt have to do with 19,000 bets?

According to the Telegraph, the betting industry’s take during the two-week Olympic Games in London this year will exceed that in Beijing 20 times over (maybe because China can’t cheat as easily this time, so the betting is more fair! Ha!).

Interestingly, over 3 million people will take the plunge in the world’s oldest social activity, betting, and place their first ever bet on an athlete or event in the London Olympic. And betting activity is on the rise. What was the most popular Olympics event? The biggest draw for Betfair, the world’s largest internet betting exchange, was the men’s 100 meter final.

During the event over 19,000 individual users placed bets on the outcome of the race. Usain Bolt was responsible for more than one record that day! Overall, Betfair saw slightly under 100,000 customers making bets during the two weeks, a record number for the firm.

Betting holds a special place in gamesmanship, and we hope this tradition continues.

betillion weighs in on Facebook’s foray into online gambling

What does a betting and trading game have to say about Bingo Friedzy, Facebook’s first online gambling application that uses real money? Well, as an aspiring game in a similar space, we are really excited!

“Real-money gaming is a popular and well-regulated activity in the UK and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner,” Facebook said in a statement, according to Reuters.

These are incredibly progressive words from a company that has played it safe since its inception in 2006. With only 30% of its revenue generated by non-gambling games, an early foray into the real-money playing may be the push that Facebook needs to assuage investors’ uncertainty about the company’s revenue-generating prowess.

There is no doubt, Zynga’s Poker and Slot Machine games will soon follow, and the gaming giant has shared this ambition explicitly (according to the Financial Times). Both Zynga and Facebook struggle to support expectations of analysts in terms of revenue, and online gambling presents the perfect opportunity.

This move is not desperate, but rather calculated and forward-looking.