2020: The Online Bingo Market

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There is no doubt that bingo is a popular game with many people. But when we think of bingo, we generally think of the bingo halls that the older generation would frequently visit, and the fun side of the game being played out, with additional events, and a more social side of things.

However, it has been reported that many bingo halls are closing due to the rise of online bingo and the boom in that industry. It is interesting to note though that the age group who are more frequently playing online bingo is the 25 to 34s and not necessarily the older generation. Women are much more likely to be playing the game, with a study showing 62% of players are female, but of course online bingo and the incredible uptake of playing the game in this way, can be attributed to the younger generation being drawn to technology, and online gaming fit in perfectly around a busy lifestyle. Even though the younger generation is playing online bingo, there is evidence to show that a good proportion of these people are also visiting bingo halls.

So, the boom of online bingo playing can certainly be linked to a new generation of players preference in technology, but there is still a good mixture of players of all ages visiting online bingo sites and the few remaining bingo halls, with all ages thoroughly enjoying either method. But why has online bingo grown so much? And what is the current market doing for this industry?

 

Growth

It goes without saying that the main reason for the growth of online bingo is the advancements in technology, as well as that people are becoming much more creative within this industry and bringing up more types of bingo, different ways to promote the service and also more interesting ways for people to play.

Technology also means that there is more access to playing bingo at any time of day, and that means that shift workers, or parents who aren’t able to specifically go to a bingo hall at a particular time, now have the ability to play their favourite game at their own convenience. Bingo sites like Wink Bingo have adapted and created mobile-friendly versions for users to be able to access the games on their handheld devices. Being able to play bingo in your own home, whilst watching your favourite TV show is a draw for many and has certainly contributed to the overall growth of online bingo over the years. The popularity of bingo is increasing regularly, the more time people are spending in their homes, the more chance of them finding online bingo of course.

With the advancements in technology, people can now play a game of Bingo at their own convenience.

 

Market

Last year the market share of bingo, remote betting and the online casino sector decreased by 0.1% on the previous year, this doesn’t necessarily mean that it is decreasing in popularity, but there are new technologies coming into play, and it is still holding quite a steady amount at 37% of the market share.

The next statistics are due out shortly and are predicted to show a change, Bingo premises have reduced by 651 which is only six fewer than the previous year. So overall even though bingo premises are reducing, they are holding a much better number than betting shops which have reduced by several thousand in the UK.

The gambling industry changes over time, but it does go without saying that online bingo is becoming more popular. There is data that shows that slots are potentially a threat to the bingo games, because of the flexibility in creativity, and the ability to link slots to other interests such as bands or games outside of gambling. Not only that but online casinos are becoming much more user-friendly, responsive and interesting, and people who choose online gaming can be easily swayed by something new and exciting marketed in the correct way. Once those people have found a new interest it can be difficult to encourage them back. However, there is a very specific group of people who are committed to bingo and will always find themselves either back in the bingo halls or playing a game online. So, it will be interesting to see how that pans out. Information will be released shortly for us to see.

 

Future

So what exactly does the future hold for online bingo? Well since the facts and figures show that a large proportion of online bingo players are from the younger generation, it goes without saying that anything new technological wise will be an interesting option. But if bingo providers keep up with technology, and include the ways to pay through fintech, and mobile apps, there’s nothing to say that bingo cannot enjoy the same growth as the rest of the gambling industry.

It will be incredibly difficult however to know for sure what the future will hold, especially since there are political and economic challenges that may get in the way. But exciting new technology such as virtual reality, and the thousands and thousands of new games that are in development right now, can pose a huge threat to bingo as a whole. So can tradition, a fan base, and a loyalty to the game prevail? And will the companies that provide this online game adapt and change with the sector?

Bingo certainly holds a special place in many people’s hearts, and quite clearly a younger generation of players are coming to the forefront, and as with anything else moving to online options seems to be the new normal, and we are bound to see a change in the way things work in the future.

 

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