Online Casinos and the Bingo Industry

The online casino industry began when the government of Antigua-Barbuda passed the Free Trade and Processing Zone Act which allowed the Caribbean nation to license online casinos. Antigua Barbuda remains popular as a licensing jurisdiction to this day. The online casino or virtual casino industry was born. By the end of 1998 the online casino industry was raking in about $835 million dollars annually. Today annual revenue from online gaming is measured in billions instead of millions. In the late 90’s bingo went online and is now a $2 billion dollar a year business and annual growth is expected to be about 30% annually making online bingo very attractive for investors.

Many of the top casino software developers also provide the online bingo game industry with software. Microgaming which was one of the first casino software providers remains a force in the online bingo and casino industry. Playtech is another early player that continues to supply bingo networks with high quality games and software. Many online bingo sites and networks are offshoots of online casinos that have put their gaming expertise at the disposal of the online bingo industry. Gaming software development remains a very lucrative business and is one of the few industries not hard hit by the global recession.

Most gaming companies and software developers have their own networks and player bases. The top software companies are responsible for a majority of the top tier online casinos and bingo sites. Companies go to great lengths to differentiate their products from those of their competitors. Software can mean the difference between a good bingo site and a great bingo site so software developers must constantly stay at the top of their game to survive in a highly competitive industry.

What does all this mean for online bingo players? Since quite a few of the top tier bingo sites are offshoots of online casino enterprises industry giants lend credibility to the bingo sites powered by their products. Some software companies operate networks while others provide gaming and internet bingo software to independent bingo sites and casinos.  One noticeable difference between online casinos and bingo sites is social networking. Most online casinos do not use chat rooms to the same extent as online bingo sites but software developers have solved most of the issues associated with the use of chat rooms and social networking. Gaming software has come a long way since the early 90’s and online bingo players have those early gaming pioneers to thank for their ability to play entertaining and exciting games 24/7!

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