New Report Shows a Halt in UK internet Bingo Growth

New Report Shows a Halt in UK internet Bingo Growth
Posted on 26 July 2012 Since 2007 the internet bingo business in the UK has grown and expanded into new markets. The internet bingo industry has expanded into Scandinavia, Spain and Italy with great success. After a national smoking ban was imposed in the UK many bingo operators reported an 80% increase in player numbers. The ban caused many land based halls to go out of business and thousands of jobs were lost. Today many live bingo halls are threatened by high taxation and dwindling player numbers. Bingo halls have also been pressured by new taxes on slot machines. Many bingo hall operators say a significant portion of their profits comes from slots. While the land based bingo market struggles the internet bingo market was growing and new bingo sites were launched almost weekly. Today there are about 400 individual bingo sites competing for the same player base. Many industry experts say the UK bingo market is saturated and that further growth will take place in other countries. According to one new report the market saturation has led to a halt in the growth of the UK internet bingo industry. Bingoport, which compiles data and researches the internet bingo industry in the UK, has released their April to June Quarterly report. The report shows a decrease in internet bingo wagering and player activity compared with the January – March quarterly report by Bingoport. Bingoport’s Bingo Trends data showed a 6.1% decrease in bingo spending compared with the January – March quarter. From April 1st to June 30th, 2012 an estimated £255,626,262 ($401,321,474.03 USD) was spent on internet bingo tickets in the UK. Since Bingoport started tracking industry data in June 2011 this is the first quarter to show a decline in wagering. There has also been a decline in player activity. The managing director at Bingoport, Scott Logan, believes the figures clearly show that the internet bingo market has matured. Logan stated “Obviously the April – June quarter has historically been impacted by the warmer weather and Summer holiday season, but in previous years, ongoing growth of the industry has countered any reduction in activity during this period. It seems clear that the industry is no longer growing at such a rate.” Many experts have been predicting a slowdown in growth and Bingoport’s figures would tend to confirm this view. Should the United States re-enter the internet bingo market growth will most likely accelerate.

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