Online Bingo is Booming
Technological advances and new infrastructure investment by broadband providers are providing the online bingo industry with opportunities for greatly increased revenues. Increases in broadband availability to people’s homes and the variety and quality of products offered by the industry will all contribute to the expected increase in revenues. In the UK in 2006 the online bingo industry generated revenues of 72 million pounds ($145,764,043) alone - not accounting for the proliferation of online bingo news sites - and is expected to vastly increase by 2008. Within five years analysts predict that the online bingo industry will generate upwards of 164 million pounds ($332,009,341) within the next five years.
This comes as no surprise to online bingo site operators who have seen an increase in business despite the passage of the Unlawful Internet Gambling Enforcement Act of 2006. According to Phil Fraser, chairman of this year’s second Online Bingo Summit taking place in London in September:” Increased awareness of online bingo in the mass market, driven by the big land-based bingo brands and media owners’ bingo sites, means that there is indeed still much room for growth. Continuing increases of broadband into people’s homes and the increase in the variety and quality of product also contributes to this opportunity”
With the newer mobile devices and improvements in broadband service mobile gambling is expected to become a reality in the very near future. Innovations such as the new I-phone are expanding the boundaries of what mobile devices are capable of. Already most mobile devices are essentially mini pc’s with functions almost identical to desktop pc’s. With the tech market holding its own the possibilities for online bingo site operators and their networks seem to be without end.
The most important factor remains that bingo is just plain fun to play. Online bingo has changed the demographics of bingo and it’s not just for little old ladies anymore. The new tech savvy generation has found out just how enjoyable online bingo can be. Younger players are the norm rather than the exception and current research bears this out. For online bingo players the most important factor is that it’s just plain fun and that is probably the most important factor of all.
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