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Jan
7th

Internet Bingo Fastest Growing E-Gambling Sector

A recent report by a UK based egaming research firm shows that internet bingo is the fastest growing egaming sector.  Despite the worst recession since the postwar years and reduced consumer spending internet bingo continues to produce record profits. The report by egaming research firm H2 Gambling Capital stated that in 2010 the internet bingo sector grew by an astounding 28.4% and produced $2.67 billion dollars during the year. Earlier industry predictions had said that the internet bingo industry would not hit the $2 billion dollar mark until 2012. The egaming sector as a whole grew 12.5% in 2010 and gross wins by the industry hit $29.95 billion.

H2 Gambling Capital predicts continued double digit growth for the egaming industry and the internet bingo sector. The internet bingo industry is poised to post record fourth quarter profits because of the frigid winter weather that has kept many players indoors playing internet bingo. The report said that mobile gaming will be a major industry driver in 2011. Most internet bingo providers have long realized the potential of mobile bingo and those bingo sites offering mobile online bingo have attracted a new younger group of players fueling further expansion.

H2 said that internet bingo has been ‘more resilient’ than other kinds of egaming during the current recession. Simon Holliday, Director for H2 told New York based Bloomberg News that internet bingo is the ‘least mature’ form of egaming and that this is part of the game’s appeal. Holliday stated, “Online bingo is in such an early growth phase that any recessionary impacts are outweighed by its newness. This is often supply-driven demand. It relates to availability and how heavily things are marketed.”

Most industry observers expect internet bingo operators to step up marketing efforts in 2011. Currently the internet bingo industry has spent millions on television advertising and in the UK internet bingo providers sponsor several popular daytime programs. Sites of internet bingo games will be offering players more interactive features in 2011 and many plan to make use of new technological advances. Somewhat surprisingly the lowest growth was in the online poker sector. Online poker had a growth rate of only 7.1% and gross win revenues of $5.06 billion dollars. At the end of 2010 there were 2,400 egaming sites, 160 sites less than at the beginning of 2010. Clearly the internet bingo industry is set for further growth in 2011.