One of the most popular social media platforms is Facebook. It currently has over a billion monthly active users and over 50 million daily active users. That’s a pretty huge audience, all things considered. But, what does Facebook actually mean in betting?
Key Facebook Stats
Here are some key Facebook stats to consider:
Userbase:
The userbase of Facebook is massive, so massive that it’s almost hard to put into perspective just how many people are using it. The site has officially reported that it has over 1 billion monthly active users. While that might not sound like a whole lot compared to some other sites’ userbases, it’s actually a pretty large audience when you consider that many of those users are on the site every day.
Revenue:
While Facebook doesn’t publicly disclose its financial information, it is reported that the site now generates billions of dollars in revenue each year. That places it among the top ten highest-grossing websites on the entire internet. Although Facebook doesn’t publicly disclose its revenue figures, it has been estimated that the site earns over $10,000 per day ($720,000 per month) from advertising. That means that the site is currently generating an impressive $18 billion per year in advertising revenue, $5 billion of which comes from Facebook users in the UK.
Demographics:
Many people use Facebook to keep track of their friends’ activities and share content with people they know. The service is therefore very popular with younger generations. One study found that 57% of Gen Z use the site, compared to only 24% of millennials.
According to AARP’s 2019 Digital Usage Study, 89% of adults between the ages of 55 and 64 and 81% of those between the ages of 64 and 74 use social media. So, while younger generations are more likely to use Facebook, the site’s popularity among older users isn’t going anywhere.
Content Recommendations:
This is an area where Facebook really shines. Not only does the service know exactly what kind of content its users want to see, it also knows exactly which of their friends have content that could be relevant to them. If someone posts something that a friend has previously liked or shared, then that content might appear in the newsfeed of the person who viewed it. And, since most people assume that their friends’ opinions are also relevant to them, this can create a positive feedback loop. In other words, the more relevant content that a user sees, the more likely they are to see more relevant content in the future.
User Behavior:
People use Facebook to share various types of content with their friends. This can include images, videos, and status updates. While users might share a status update to keep everyone up to date on what’s going on in their lives, the content on the site isn’t necessarily meant to be read by the general public.
According to the Harvard Business Review, 78% of users share content on Facebook to get support from their friends. Similarly, 47% of users say that the site helps them stay connected with friends and family, while 14% use the site for professional purposes. So, while Facebook users might not always be posting about their latest vacation or the articles that they’ve just read, the service helps users connect with people they care about and who care about them.
Economic Impact:
While it might not seem like a popular site with the youth, Facebook has actually had a fairly big impact on the economy. In 2016, it was reported that this site and its associated apps generated over $11 billion in revenue. That’s not including the many billions of dollars that are generated by its users each year through advertising and game revenue.
Considering that so many people use the site, it would be quite the economic powerhouse if it were a standalone entity. But, as mentioned above, Facebook is actually a part of many other businesses, including Microsoft, which owns a 10% stake in the company; Adobe, which owns a 5% stake in the company; and others. These businesses provide a variety of products and services related to creating websites, videos, and other content for businesses and consumers. So, while Facebook’s impact on the economy isn’t directly measurable, it’s definitely not something to be overlooked.
Overall:
Considering all of the above, it’s clear that Facebook has had a massive influence on society as we know it. It might not be the most popular site with the youth, but it’s certainly among the most influential. And, as the saying goes, influence tends to increase with age. In other words, it’s not just older generations using Facebook, but it’s also becoming an essential component of young people’s social lives. This is especially evident in the UK, where 72% of people between the ages of 16 and 24 use the site, more than any other country in Europe.
So, what does Facebook mean in betting? Well, for one thing, it’s an excellent source of traffic and engagement, both of which can be invaluable to a sportsbook. But, more importantly, the service is used to connect people with friends and family, which can have a big impact on a gambler’s life. If someone you care about dearly is having a rough time of it and you want to be able to comfort them, or if you’re struggling with your own personal issues and need someone to talk to, Facebook is a great place to start. And, as mentioned above, many people assume that their friends’ opinions are also relevant to them, so if you start a conversation with someone whose opinion you respect, you might just learn something useful.