Growth in Online Bingo Market

The online bingo industry is a rapidly growing market and was the subject of discussion at the Bingo Summit. The most developed online bingo market is in the United Kingdom. In 2004, there were only 17 online bingo sites. Now there are 243. The second most competitive market is Spain with 40 online playing sites when there were only 6 last year.

The popular game has 500,000 online players every month in the United Kingdom and brings in approximately ₤120 million per year. This industry has grown rapidly since its beginnings in 1995 when the first online bingo playing site appeared. It growth has been aided by broadband technology since high speed internet access makes the game more appealing to online players.

There are already a variety of bingo brands and the game is already popular in many parts of the world. For the next one to three years, the major expansion markets will be in Europe. After that, during the next five to eight years, South America and Asia will be the big growth markets. Denmark, Sweden and Ireland, along with Spain are expected to be major expansion markets since many online operators already have expansion plans for these countries. Television bingo is also becoming popular in the United Kingdom with the new ITV Bingo Night Live game and also in Sweden.

Many industry experts still consider online bingo to be an immature market and this is expected to change by 2012 when they predict it will represent 25 percent of the world’s gambling market and earn over $2 billion in profits. Due to the realities of life, like smoking bans, high gas prices that make driving expensive, online bingo looks appealing to more and more people. There are also legal barriers that must be overcome in many of the new markets.

Posted: June 27, 2008
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