Bingo’s Bulls and Bears

Recently there have been several reports of internet bingo sites shutting down because of a variety of difficulties. Despite these reports there are more new bingo sites being launched every week. Just about every other day there is an announcement or advertisement for a new bingo site. There are conflicting reports about whether the UK bingo market is saturated and unable to support new bingo sites. Some in the industry believe that the UK and European market are thoroughly saturated and that there are a limited number of players. Others believe that the UK bingo market is not saturated and is able to absorb new bingo sites.

The one fact that is beyond dispute is the internet bingo industry is now a billion dollar a year business and that many expect that figure to double during the next two years. Online bingo has attracted players from all age groups and is extremely popular with younger players especially women 18 to 35. For those seeking an inexpensive form of entertainment bingo is a perfect fit. Many sites offer bingo cards for as little as a penny and players in penny games can win hundreds of dollars or pounds in penny games. New technology that makes it possible to access the internet using mobile phones enables bingo fans to play anywhere there is a signal.

Another factor contributing to online bingo’s immense popularity is the fact that about 90% of all bingo players reported cash wins. 46% of people that play bingo online in the UK reported wins of £100 ($161.94) or more.  In addition to good player odds many players love the social aspect of online bingo. Chat rooms are especially popular and new sites that want to be competitive are going all out to offer the best chat rooms possible. Some websites are experimenting with the use of webcams which could add a whole new dimension to bingo chat rooms.

Many bingo providers are hoping that the US bingo market will open soon. The re legalization of online bingo in the US would provide bingo sites with millions of new players. Undoubtedly there will be new sites targeting American players once the laws are changed in the US. Bingo has become highly competitive and players everywhere have benefitted. As has been mentioned new sites are being launched almost daily and are offering an astounding variety of player incentives. Many are bullish about the bingo industry while other are bearish-which side will win is anybody’s guess.