Internet Bingo Poised to Enter New Markets

Posted on May 2nd, 2009

In the past two years internet bingo has experienced astounding growth, especially in the UK. There are well over 200 internet bingo websites based in the UK and many of these sites are serving a growing international market. Despite onerous US online gambling laws which caused chaos in the internet bingo industry in 2006 internet bingo continues to thrive.

A new report by Screen Digest titled “Bingo in the Digital Age: Global market assessment and forecasts” shows that internet bingo has developed a strong world wide base and is growing internationally. Internet bingo has established strong markets in:
Western Europe

North America (including the US)
Central and Eastern Europe
Asia Pacific including Australia, India, China and Japan
South and Central America
Middle East and parts of Africa

Since the online UK bingo market is heavily saturated many internet bingo providers are looking elsewhere for new opportunities. Many potential markets remain untried and the risks are great but so are the potential rewards. Some of the factors internet bingo providers must consider when entering a new market include, broadband access, infrastructure, computer presence, mobile access, and possible language barriers.

Online gaming is an industry that generated billions a year in revenue and the internet bingo sector is the fastest growing part of the online gaming industry. Many experts expect the US to legalize online gaming in the near future creating a huge market for internet bingo. Although many US citizens continue to play payment processing is often a problem due to the laws regulating online gaming transactions.

The online bingo industry is using many of the same marketing strategies in foreign markets. Strategies that have been successful in the past include bigger bingo bonuses, free play options and significantly higher jackpots. Most bingo sites offer players a bingo sign up bonus and a bingo deposit bonus as well. New players can go to the various websites and see who has the best bingo bonus. Bingo sites have bridged the language gap by using expert translators and sophisticated software. Recent expansion into several European markets has been highly successful for the internet bingo industry.

These are exciting times for the internet bingo industry. In the UK internet bingo is producing jobs and pays millions in taxes. In the near future many internet bingo providers will be faced with a choice-stay in a saturated market or take advantage of the opportunities offered by new global markets.