urrent online market statistics released by Global Betting and Gaming Consultants (GBGC), show that online bingo games generated wins of us$ 144.8 million last year - a figure that is set to soar by 2008. Within the next five years industry analysts predict that this market will be worth an estimated us$ 329.8 million.
Commenting on the recent boom Phil Fraser, Founder, Which Bingo and Chairman at this year’s 2nd Annual Online Bingo Summit, taking place September 25th - 26th in London said “increased awareness of online bingo in the mass market, driven by the big land-based bingo brands and media owners' bingo sites, means that there is indeed still much room for growth. Continuing increases in broadband into people's homes and the increase in variety and quality of product also contributes to this opportunity.”
Dominic Mansour, CEO, Bingos.com & Bingos.co.uk -confirmed speaker at the Online Bingo Summit- also gave his thoughts on the boom. “It comes as no surprise that online bingo is yet again identified as being ripe for growth over the next 12 months. There are many factors supporting this feeling in the industry, from the imminent introduction of the smoking ban in England to the developing profile of internet users. It has long been the case that a form of gambling that attracts nearly 2 million visits per week in the UK alone, yet reflects only a single digit percentage of online gaming would be the next big thing.[Online Bingo] is undoubtedly a rapidly growing industry currently in its infancy.”
Predicting future trends for Bingo, Dylan Schlosberg, CEO at ThinkBingo.com -also confirmed speaker at the Online Bingo Summit- says: “Bingo is a mass market, mainstream leisure activity. As the UK's first standalone bingo site, we saw three years ago the inevitable online migration of the bingo female demographic. Growth has been driven mainly by broadband penetration, TV advertising and the launch of Gala Bingo online in February 2006. The future will see consolidation of the medium sized sites as they compete with the larger ones, new entrants hoping to make a dent and other land based halls taking their business online.”
The success of the 2nd Annual Online Bingo Summit goes a long way to support the amazing growth in Online Bingo. Ravi Virpal, Director at Bullet Business said: “The response we have had to the summit this year is simply unprecedented. We have more than 70 companies already confirmed including Mecca, Jackpot Joy, The Sun Online, St Minver, PartyBingo, Parlay and have allocated over half of the exhibition floor space before our marketing push has even begun! If you have an interest in the space - you must attend”.
For more information about this summit, visit www.bulletbusiness.com/bingo