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Oct
1st

Bingo Remains Most Prosperous Online Gaming Sector

A report released earlier in 2009 said that online bingo will be the fastest online gambling sector. The report by Screen Digest titled ‘Bingo in the Digital Age; Global Market Assessment and Forecasts’ said that online bingo will continue to be the fastest growing sector of the online gambling industry. The report predicts continued growth and expansion of online bingo and says that by 2013 the global online bingo market will generate $791,938,554.44.All of the predictions in the report have come true and in 2010 internet bingo remains the most prosperous sector of the online gaming industry. More recent reports say that the bingo industry will be worth over $2 billion dollars a year annually far in excess of the $791 million predicted in 2009. Most industry experts expect an annual growth rate of up to 30% making online bingo particularly attractive to investors.

Online bingo has prospered despite the global economic downturn and factors contributing to bingo’s ongoing prosperity include, demand for inexpensive home based entertainment, cheaper bingo games, free bingo, increased marketing campaigns, health competition between bingo sites and bigger and better promotions, jackpots and prizes. The decline of land based bingo in the UK has also helped the online bingo industry and some established land based bingo brands have entered the online bingo market as a survival strategy. In 2008 total UK online bingo revenues was $348,427,584.79 and in 2010 the industry expects to rake in about a billion dollars!

Even during the worst of the recession online bingo kept growing and the number of players increased by almost 80%. Many consider online bingo to be ‘recession proof’ and the figures would bear that out. New bingo sites are launched weekly and are offering players some pretty attractive perks and incentives. A relaxed regulatory atmosphere has also helped the online bingo industry. Media and retail brands have also decided to take advantage of the opportunities offered by the very lucrative online bingo market.

In the UK alone there are 3 million bingo players. Recent studies have shown that a majority of people that play internet bingo players spend a total of 26 days a year online playing. Although the typical online bingo wager is small those wagers add up to millions for online bingo providers. It is easy to see why online bingo remains the most stable and prosperous sector of the online gambling industry.