February 16, 2009
The online bingo industry has been moving from strength to strength over the past few years. Going against the global landscape of economic doom and gloom the online bingo industry is writing a success story all of its own. But what is driving this explosive growth?
With annual ticket sales reaching in excess of £600 million in the UK alone the online bingo industry is showing no signs of slowing down and is fast sweeping through European countries as a rival to the popular game of online poker.
Leading operators such as Gala, Mecca, Foxy Bingo, JackpotJoy, Wink Bingo and more are experiencing fantastic levels of growth and the online bingo industry is attracting the attention of many investors and those who specialise in other forms of online gambling such as sportsbook and casino.
Continued growth can be attributed to a number of factors including a heightened demand for online amusement to replace traditional social spending; a refocus on marketing strategy by bingo operators; the growing appeal of bingo to a wider demographic; the opening of further European markets; bingo in the national consciousness; the expansion of broadband access and the rise of social networking and player interaction.
Let’s take each of these factors and look further…
Heightened demand for online amusement to replace traditional social spending:
A refocus on marketing strategy by operators: Thousands of accounts are opened and lay dormant following the initial £10/£20 free play. This year there has been a massive call by online bingo operators to engage in more retention led marketing to encourage the reactivation of dormant accounts. Since CPA is a cost which continues to rise, it is deemed necessary by many in the industry to focus their strategies on retention over and above acquisition in a bid to squeeze maximum value from their current databases.
The growing appeal of bingo to a wider demographic: According to stats gathered by Phil Fraser, founder of WhichBingo.com, and Chairman at the forthcoming 4th Annual Online Bingo Summit online bingo players are getting younger. Fraser's figures show that nearly 25% of online players are under 35 and the size of the under- 35 segment grows each year. Online Bingo is becoming a popular game to play by the coveted 18-39 year old demographic in countries around the world.
The opening of further European markets: With leading European countries such as France preparing themselves for the possible regulation of the online gambling industry and with Sweden looking at the re-regulation of the Swedish gaming monopoly, Internet bingo could find its way into these lucrative geographic locations.
Bingo in the national consciousness: in 2008 Michael Braga, former Group Marketing Director at Gamesys stated “Within the last 12 months Bingo has entered the national consciousness thanks to the effects of the smoking ban and the proliferation of advertising.”
The expansion of broadband access and the rise of social networking and player interaction: The UK Government has pledged broadband to be in every home by 2012 with analysts Forrester Research predicting European broadband penetration to reach 71% by 2013.
The need for an industry to come together
The above factors culminate in a need to bring the internet bingo industry together to discuss the industry critical issues and challenges of the future.
All of the above topics and more will be discussed in depth at the 4th Annual Online Bingo Summit which takes place over 2 days in London this June. Make sure you stay ahead in 2009… Join the discussion and the online bingo community today.
Over 50 companies have already confirmed their places at this must-attend industry event including Valhala Investments, Bingo.com, Netplay TV, Cashcade (FoxyBingo), Ladbrokes, Sportingbet, Parlay Entertainment, Boss Media, NYX Interactive and many more... As the global economic situation forces consumers to tighten their budgets there is a feeling that consumers who may have spent a proportion of their income on social activities are now choosing to spend more time at home. This trend coupled with further widespread broadband penetration and increased levels of online consumer confidence mean that online gambling is prospering as a result. Internet research website ITfacts.biz reports that online gambling grew 11% globally between Oct 2007 and November 2008.
The online bingo industry has been moving from strength to strength over the past few years. Going against the global landscape of economic doom and gloom the online bingo industry is writing a success story all of its own. But what is driving this explosive growth?
With annual ticket sales reaching in excess of £600 million in the UK alone the online bingo industry is showing no signs of slowing down and is fast sweeping through European countries as a rival to the popular game of online poker.
Leading operators such as Gala, Mecca, Foxy Bingo, JackpotJoy, Wink Bingo and more are experiencing fantastic levels of growth and the online bingo industry is attracting the attention of many investors and those who specialise in other forms of online gambling such as sportsbook and casino.
Continued growth can be attributed to a number of factors including a heightened demand for online amusement to replace traditional social spending; a refocus on marketing strategy by bingo operators; the growing appeal of bingo to a wider demographic; the opening of further European markets; bingo in the national consciousness; the expansion of broadband access and the rise of social networking and player interaction.
Let’s take each of these factors and look further…
Heightened demand for online amusement to replace traditional social spending:
A refocus on marketing strategy by operators: Thousands of accounts are opened and lay dormant following the initial £10/£20 free play. This year there has been a massive call by online bingo operators to engage in more retention led marketing to encourage the reactivation of dormant accounts. Since CPA is a cost which continues to rise, it is deemed necessary by many in the industry to focus their strategies on retention over and above acquisition in a bid to squeeze maximum value from their current databases.
The growing appeal of bingo to a wider demographic: According to stats gathered by Phil Fraser, founder of WhichBingo.com, and Chairman at the forthcoming 4th Annual Online Bingo Summit online bingo players are getting younger. Fraser's figures show that nearly 25% of online players are under 35 and the size of the under- 35 segment grows each year. Online Bingo is becoming a popular game to play by the coveted 18-39 year old demographic in countries around the world.
The opening of further European markets: With leading European countries such as France preparing themselves for the possible regulation of the online gambling industry and with Sweden looking at the re-regulation of the Swedish gaming monopoly, Internet bingo could find its way into these lucrative geographic locations.
Bingo in the national consciousness: in 2008 Michael Braga, former Group Marketing Director at Gamesys stated “Within the last 12 months Bingo has entered the national consciousness thanks to the effects of the smoking ban and the proliferation of advertising.”
The expansion of broadband access and the rise of social networking and player interaction: The UK Government has pledged broadband to be in every home by 2012 with analysts Forrester Research predicting European broadband penetration to reach 71% by 2013.
The need for an industry to come together
The above factors culminate in a need to bring the internet bingo industry together to discuss the industry critical issues and challenges of the future.
All of the above topics and more will be discussed in depth at the 4th Annual Online Bingo Summit which takes place over 2 days in London this June. Make sure you stay ahead in 2009… Join the discussion and the online bingo community today.
Over 50 companies have already confirmed their places at this must-attend industry event including Valhala Investments, Bingo.com, Netplay TV, Cashcade (FoxyBingo), Ladbrokes, Sportingbet, Parlay Entertainment, Boss Media, NYX Interactive and many more... As the global economic situation forces consumers to tighten their budgets there is a feeling that consumers who may have spent a proportion of their income on social activities are now choosing to spend more time at home. This trend coupled with further widespread broadband penetration and increased levels of online consumer confidence mean that online gambling is prospering as a result. Internet research website ITfacts.biz reports that online gambling grew 11% globally between Oct 2007 and November 2008.
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