Online Bingo Poised For Massive Growth

Media analyst Screen Digest has released a report ‘Bingo in the Digital Age: Global Market Assessment and Forecasts’ which shows astounding growth in the global online bingo game industry despite the global recession. Traditional bingo halls have been hurt by smoking bans and in the UK double taxation has caused many bingo clubs to shutter their doors forever. Land based bingo providers are trying new marketing techniques to try to attract a younger audience and some are entering the online bingo market. Several factors contributed to the growth of online bingo. Wider availability of broadband, promotions designed to attract and retain players, relaxation of regulations, and the demand for home based entertainment are all factors contributing to the growth of online bingo sites. The report states that online bingo is the fastest growing sector in the online gaming industry. In the UK online bingo providers generated £220 million pounds ($322,462,507 USD) in revenue in 2008. According to the report the UK is the oldest, largest and most competitive online bingo market. The report states that many of the major players in the online bingo industry are planning to expand into Eastern Europe and Spain. There is talk in the US of repeal of that country’s Online Gambling Enforcement Act which would easily add millions of new online bingo players. At present many online bingo websites block US players. Once repeal happens online bingo providers will be perfectly positioned to add these new players without any disruptions. Despite the recession the number of new online bingo players increased by an astounding 80% in 2008. The demand for inexpensive home based entertainment was a major factor driving new players to online bingo. In the UK where the competition between online bingo websites is keen, providers will have to devise new and original marketing strategies to retain value oriented players. Undoubtedly bigger jackpots and prizes will be the norm as sites compete for new players and strive to retain established players. The report also says that in the next twelve to eighteen months many established retail brands will enter the lucrative online bingo market. The report predicts that retail brands, airlines, magazines, and media outlets will enter the online bingo market. The competition will be fierce and online bingo players will benefit in the form of larger bonuses, jackpots, and unique prizes. The time has never been better for online bingo players.

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