Online bingo: June 2008 Archives
While other British industries are anticipating lean if not bleak times in the near future the same cannot be said for online bingo.
A leader in the industry says there's excellent scope for growth in the online bingo sector in the next one to three year specifically.
"Online bingo site launches are expected in Spain in the next three months and also in Denmark, Sweden and Ireland shortly. All are underdeveloped markets that have a history and culture of bingo halls so you would expect them to follow the U.K. market in terms of growth" says Al-Haig Thomas, chief executive of Virtue Fusion, a leading online bingo software provider.
British online bingo sites are keeping their fingers crossed that the success they have experienced here can transfer to neighbouring European nations.
According to Phil Fraser of bingo information site 'Which Bingo' the U.K. is the world's most developed online bingo market. In 2004 punters had just 17 websites to choose from in the U.K. - now that figure is a massive 243, thats an approximate 1400% increase in the amount of sites available in just four years.
So in financial terms how has the market growth and increased competition in recent years effected revenue. Well last year alone £650 million was spent on online bingo in the U.K., companies pocketing a substantial £120 million in profits.
