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When you think about bingo, a packed-out hall full of potential winners will spring to mind. What you don’t imagine is an online casino offering the latest the industry has to offer.
However, as the stats prove, the sector has well and truly moved away from its roots to a new home. The UK alone has over 300 online bingo sites to choose from, and that’s without counting the platforms in the US, Spain, Finland, Sweden, and the Asia-Pacific region.
Compared to the 1960s, where 150,000 people visited a local hall daily, the landscape has changed dramatically. But, what’s behind the evolution of bingo? Continue reading to find out.
Source: Pixabay
The Demand
The game has changed mainly due to the demand. When bingo was first famous, it was popular because it was a social hobby that allowed people to interact and have a good time. Of course, the internet wasn’t around. When online bingo became more accessible, it soon took over as the demand skyrocketed when the platform removed the need to leave the house. Plus, the investment in product variation meant people could play everything from traditional bingo to online scratchcards, ensuring the entertainment element is always high since there are a plethora of choices to sample. It worked as, by 2009, the online global game was worth $1.95 billion, a 16% rise from the year before.
Not only that, but the CAGR was due to increase by 14% within three years, according to Gambling Insider. The online gambling market is expected to be valued close to $100 billion in 2025, with bingo accounting for a big chunk of the profits.
Europe’s Stronghold
While Americans like to play bingo and wager online, Europe has the biggest market share of any continent worldwide. The total online gambling market for EU nations made $22.2bn in gaming revenue in 2018, accounting for almost 50% of the global market. Of this total sum, bingo was one of the top six most popular wagering activities, making up 4.3% of the sector. This is about $1 billion in GGR. Of course, the fact that people usually played in halls and function rooms weren’t synonymous with accessibility. As the game grew in Europe and gained popularity around the world, it was only a matter of time before it transformed into a digital activity that included the US and North America.
Source: Pixabay
The Players
If you’re still picturing seniors sipping on soft drinks, you’re mistaken. The demographic of the game has altered drastically in the past couple of decades. Today, around 80% of online bingo players are between the ages of 35-64. Yes, the older generations still play, yet they are surrounded by relative youngsters who do two things – spend more money and spend it online.
As a result of the new generation of players, it only makes sense for online bingo activities to promote their products via the internet. After all, a large percentage of the people they want to play, those who spend money regularly are tech-savvy. Also, the older players aren’t excluded as they now spend an average of four hours and 16 minutes in front of screens per day, so it’s a win on all fronts.
Bingo has new roots, and it’s down to the players, the accessibility of the internet, and the demand for online gaming.