The online gambling industry is growing at a remarkable rate, with new betting sites popping up all the time on the internet. There is huge demand for more and newer games and companies are rushing to meet it.
That means every segment of the market is ultra competitive, including online bingo. This game enjoys particular popularity in Britain and millions of people play bingo in UK and win every single week. The game has a longstanding tradition in the UK and the rise of the online game has only enhanced its reputation.
Bingo is at the forefront of everything from increased demand to expanded games choice and technological developments in the gaming industry. There is evidence that it could become the first-choice game for many over the next few years.
So how much rivalry is there within the online bingo sector and will it achieve dominance?
How big is the Online Bingo Industry?
It is estimated that the current figure when it comes to global online bingo players is over 100 million. The market is distinctly skewed towards women at the moment, with up to 80% of those registered with online bingo sites being female.
The median age range of the players is between the ages of 30 and 50, so the widespread perception of bingo as a game for old people is not accurate at all. As mentioned above though, while bingo has a global customer base, it is especially popular in the UK.
That country’s Gambling Commission carried out a study last year which looked at the gross profits for the UK online gambling sector during a six-month period in 2020. It brought in £5.9 billion and bingo accounted for an amazing £3.1 billion of that total.
Thus bingo already appears to be the first choice game for many in the UK at least.
Why Bingo is becoming the go-to Game
There are definite reasons for the rising popularity of online bingo. These are some of the main ones.
- General growth of online gaming
The global gaming sector is booming and bingo is just one of many games to be reaping the benefits of that. People are much more comfortable with technology these days and have embraced gaming online in their millions due to that.
While most places have a venue that allows people to play bingo games, these are not always open when people want them to be. Travelling to them is also sometimes not convenient for those who wish to play.
By contrast, online bingo is something that people can access at all times without even needing to leave their homes.
Some people do not feel safe going out at night to bingo venues or walking home carrying any money they have won. Playing it online removes that danger and the best online bingo sites offer extensive security measures to protect customer data.
Of course, all these things apply to other forms of online gambling as well. So they do not fully answer the question of why bingo is moving ahead in places like the UK.
One reason for this is that the bingo sector has captured a distinct demographic. Online casino and sports betting still attract more male than female gamblers, but with bingo the opposite is true.
There are male players, but the customer base for online bingo is female dominated. That is partly because the game offers something slightly different to rival forms of internet gambling.
Bingo sites have sought to exploit advances in technology to replicate some of the sociable aspects of playing at an old-fashioned bingo hall. They are adding live chat and chat room features so that people can talk to their friends while they play.
Studies have shown that women value that social element more than men and it has helped to make online bingo bigger among them. That is not the only way in which bingo is embracing tech though.
The Effects of Tech
The shift to being a primarily online game reversed a decline in the popularity of bingo and bingo companies have learned that lesson. They are continuing to look at how it can improve the customer experience.
This has led to the introduction of social features and the emergence of mobile bingo apps. Potential next steps could see 5G enable the creation of better and more innovative games and faster play.
Bingo sites are also looking closely at the possibilities for virtual reality to make playing online bingo more immersive and exciting. They have to do this because bingo is among the most competitive sectors of the online gaming industry.
According to research, over 80% of those who play online bingo do so using multiple providers. Thus bingo sites are successfully engaging people but are still battling each other for long-term customer loyalty.
That is leading to ever-greater rivalry to produce the best new bingo games and the sort of promotions and bonuses that will keep players coming back. This is making the bingo sites better and further explains why it is grabbing a greater share of the online gambling market.
The demand for lots of different bingo games is partly fuelled by technology, but it is also a case of bingo sites creating that demand by supplying new games all the time.
Bingo is on the rise within a thriving games sector and technology could help it to become the go-to game for most people.