The Potential of Mobile Bingo and Social Gaming
Major changes are taking place in the online bingo industry. After years of high profits and rapid growth the industry has been handed a new opportunity and the challenges that come with it. Earlier this year Sreeram Reddy Vanga, who is managing director at Cozy Games, expressed his thoughts on the exciting developments taking place in the online bingo industry. Vanga told interviewers "Bingo has always been an interesting platform to experiment and learn from. Over the last 12 months, the most exciting development in bingo would be the shift to the mobile and social platforms." He added "the addition of mobile bingo to online and social bingo has been the biggest highlight so far."
Vanga also said the industry is facing new challenges and stated "The biggest challenge so far has been saturation in the bingo industry. Added to that, would be the consolidation of online bingo industry where the large operators benefit from player liquidity and jackpots." Speaking about social gaming said that "with the mass shift towards social gaming, competition to make bingo more exciting and appealing to retain online players is also a challenge." Today most online bingo operators are taking advantage of the new opportunities offered by mobile and social gaming. On Facebook the popularity of Bingo Blitz has been driven by players who visit the app using their mobile phones and other devices.
As a platform mobile is revolutionizing the internet bingo and gaming industry. In the UK bookmakers have reported triple digit increases in the amount of money taken in from mobile players. Earlier in the year some operators resisted the new technologies but the massive growth of social and mobile gaming has prompted most operators to add mobile apps on their bingo sites. Experts are predicting a bright future for mobile gaming.
A report by Juniper Research says that because of the legalization of intrastate gaming in the United States, the massive growth of social gaming and advances in mobile technology the online gaming industry will generate $100 billion annually by 2017. Current estimates say that mobile gaming generates about $20 billion per year. Juniper said that growth will be driven by the development of mobile wallets similar to payment processors online. Players will be able to make payments using their mobile devices.
States in the US that are legalizing online gambling hope to get a share of profits generated by mobile players. According to U.S. Digital Gambling state tax revenues generated by internet poker could generate $5 billion in 10 years. If states add social gaming sites the number could easily double. Finally state governments in the US are realizing that legalizing online gaming will generate revenues and not doing so will cause players to go to offshore to online gaming sites that pay no taxes in the US.
Connect with author, Jeff Davis on Google+.