According to the folks at Foxy Bingo UK, by 2009 the online bingo market was worth $1.95 billion.
But this huge growth in profits slowed to just an 18% profits margin this year.
“Although this may seem like a huge hit after so many years of explosive growth it is actually a ‘leveling out’ and seen to be positive in terms of sustainability of this popular market,” Foxy Bingo reports.
This tremendous growth has seen many sites spring up and look to tap into this expanding market ranging from well known brands and high street providers and smaller niche bingo sites.
Outside of online bingo and traditional bingo clubs, mechanized bingo in bars and clubs has contributed in a big way to the spread of bingo as a past time.
Initial contact with bingo for many, now regular, bingo player’s first starting playing bingo regularly with these machines.
Also the social aspect of playing bingo in a club has been replaced by the chat rooms and forums that accompany many bingo sites.
“These changes and the historic trends mean that although the growth of the bingo industry has slowed it is still, and this is key, growing and will continue to do so as people adopt mobile technology and the target demographic adapts to the dual screen experience,” the article from Foxy Bingo concluded.
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