Bright future for online bingo
Online bingo is one of the fastest growing sectors of online betting, and set to grow even quicker in the coming years, according to industry experts.
There were many positive words said at the recent Bingo Summit conference in London, particularly from Warwick Bartlett, chairman of Global Betting and Gaming Consultants. Bartlett thinks online bingo will grow to be 25% of the global online betting industry, saying “We estimate that by 2012 online bingo will account for 25% of the worldwide betting market and deliver profits in excess of £2 billion”.
Warwick cited the prevalence of broadband internet connections as one reason for the increasing popularity of online bingo games, and also the inconveniences of playing in real bingo halls. “As broadband penetration increases, people become more conscious about the cost of driving to real-world bingo halls”, he said. “When they find that they can’t smoke when they get there, playing online bingo from home becomes more and more attractive. From a customer point of view it is a great gambling proposition at a very low cost”.
The online bingo industry in the UK generated £120 million in profit last year and according to statistics from the UK Gambling Commission around 500,000 online bingo players log in every month. The number of online bingo sites is also growing rapidly, from 17 in 2004 to an amazing 243 in 2008.
But it’s not all good news. Online betting outfit PartyGaming, which operates PartyBingo as well as other gambling sites, reported a slip in revenues in April, which it blamed on Euro 2008, with the solid performance of its casino games offset by lower revenues from poker and sports betting.
296words - Posted 17/07/2008 11:21:03
