Are the Good Times Over ?

So far this year has been great for online bingo players. Bonuses are bigger than ever and there are a record number of special promotions and player perks and incentives. Many are starting to wonder just how long the good times will last. Some industry experts are suggesting that in the near future players could see reduced bonuses and promotions because of industry consolidation and new government regulatory proposals. During the last few years hundreds of new bingo sites have been launched and the fierce competition has been beneficial for players at bingo sites.

During the beginning of the online bingo boom many big bingo names tried to avoid bingo bonuses and focused on developing new bingo games but during the last two years the competition for players has forced bingo sites to offer players bigger bonuses which are now the norm in the industry. Of course bingo operators are in business to make money so there are usually very strict terms and conditions associated with bonus offers. Some sites have strict conditions that make it virtually impossible for players to actually withdraw funds won with bonus money.

Because offshore bingo sites are unregulated the returns at many bingo sites are much lower than those in land based bingo halls. Bingo sites rarely display the number of cards sold for each game making it difficult for players to see the amount of money wagered against the prizes that are paid. Industry observers say that some bingo operators may take further advantage of this as times get tougher for the industry.

Many governments are looking for new revenue streams to address massive budget deficits. Many countries are expected to legalize online gaming and impose taxes. So far offshore bingo sites have managed to avoid taxes which have enabled them to offer players large bonuses and other player perks. In the UK the tax bite for bingo sites licensed in the UK is about 15% and currently most offshore operators only pay about 1% of their income in taxes. A rise in taxes would put many bingo sites out of business and would probably cause the remaining sites to cut back on bonuses, perks and prizes and jackpots.

A combination of increased operating costs, newly imposed taxes, reduced competition and lower revenues will hit bingo players hard. In the future bingo players will probable look upon the last few years as the ‘golden age’ of internet bingo.

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