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More Growth for Internet Bingo in 2011

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It just keeps getting better and better for the internet bingo industry. Since 2006 the internet bingo industry has seen rapid growth and expansion. Internet bingo games moved into new markets like Spain and Scandinavia and is poised for further expansion. Some financial analysts say that online gaming stocks will be a good bet in 2011. In the UK online bingo is the largest sector of the internet gaming industry. While land based bingo halls are closing at a rapid rate the internet bingo industry seems recession proof. In fact some experts say that the recession has benefited internet bingo. Internet bingo has filled the need for inexpensive home based entertainment and there are no ancillary expenses such as travel, admission fees, etc associated with internet bingo.

There are now over 400 bingo sites competing for market share in the UK. Recently news reports indicate that the online bingo industry is ramping up the amount of money spent on television advertising. Internet bingo game sites now spend millions of pounds for television ads to increase brand awareness. Some bingo sites now sponsor popular television programs and commercial television is filled with ads for online bingo promotions, special games and bonuses and funding options. Most of the television ads appear during prime time and are very expensive. Industry observers say that sites that cannot afford television ads are in serious trouble and are unable to compete with well known bingo brands.

Some industry experts’ say that the bingo market is slowing down in the UK and are speculating which online bingo sites will dominate the UK bingo internet market. Well known brands such as Gala, Mecca, Virgin and Foxy bingo have launched massive television ad campaigns. Most of the ads target a female audience because statistics show that a huge majority of online bingo players are women.

Many in the online bingo industry were disappointed with the results of the midterm elections in the US. The perception is that Republicans are seen as less sympathetic to the legalization of online gaming including internet bingo. There have been several attempts to overturn current online gambling legislation but these have failed. If and when the US returns to the world of online gambling most internet bingo providers are ready to cash in. There are still a few sites that accept American players but funding accounts and the withdrawal of winnings have been problematic. Most financial experts predict further growth for the online bingo industry well into 2011.

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