Online bingo craze in the UK

Once the transition took place to the Internet, Bingo games have dramatically changed their accessibility for millions of people sitting at their home comfortably to play enchanting online bingo games of assorted varieties through 1900 online Bingo sites. The fun and thrill hit the roof when they hit a jackpot, because apart from Bingo all the sites also provide ample chances to win big prize monies through the side games, slot machines being popular ones.

Latest news is Crown Bingo has crowned one of their players online, who hit the biggest jackpot ever offered by them to a player playing the side games. The lucky winner is a lady aged 52, Lillian Gibson from Lancashire, (need any more proof for the frenzy of British lady folks in playing online Bingo and other games?) and what she did was playing the popular side game namely Pirates Plunder. Plundering the huge progressive jackpot of £17,186.04 took her only £1.50 to be wagered for playing 15 lines at 10p a stake!

She sat dazed and scaring the computer screen in disbelief, when she struck the mountain of a prize money with as little as £1.50 stake. Then coming back to senses, her joy found no bound to contact Crown Bingo operators to receive the big bingo prize. She happily revealed that she is planning a big family holiday, depositing on a holiday home in Spain as also celebrating a wonderful Christmas this year.

The point is to caution you – Beware this joyful jolt can occur to you anytime while playing your choicest Bingo games or any other slot machines games online!

UK’s online gambling reveals global picture

Online gambling generated over $9bn in revenue from over 22 million players worldwide in 2007 according to the most recent data from Point Topic.

“We used data from our most recent consumer survey in the UK* along with other inputs to establish the global online gambling market,” said John Bosnell, Senior Analyst at Point Topic.

Just under 12% of men and 6% of women gamble online in the UK. The numbers climb to over 14% in the 25-34 year age bracket.

“We estimate that the gaming sites earn $35 per player per month in the high income countries, which is fairly conservative, and around $10 per month per player from the low income territories,” continues Bosnell. “If you extrapolate from these numbers you get to just over $9bn from all countries in 2007.”

Global penetration is at 7% of the online population which in theory leaves plenty of room for growth but there are a number of issues specific to online gambling which make the market intrinsically unpredictable.

“As many authorities impose strict regulation on what is regarded by many as an addiction comparable to alcoholism the market is subject to external controls that set it apart from other online value added services. Online gambling is illegal in China and difficult in much of the US. Potentially major markets like these are currently either out of bounds or only available for certain types of gambling, usually delivered by offshore operators. In combination with irregular changes in regulations in other countries it can be difficult to generate a reliable business model,” says Bosnell.

Despite the problems it’s a crowded market. There are many different types of online gambling, from betting on sporting events, spread betting and poker specific sites through to the full range of games available in physical casinos and there are hundreds of sites vying for business.

“It’s technically straightforward and cheap to set up the sites. The major expenditure is on marketing. When you’re an online business you’re operating in a marketplace where users find it easy to compare your offering with your competition. Free offers, improved gaming experience and straightforward advertising are the primary differentiators,” continues Bosnell.

Online gambling will continue to grow in revenue terms. However, with regulatory uncertainties always present and leisure spend under threat in times of global financial insecurity there are certain to be sites that suffer. Growth will slow and insolvency and consolidation will be a dominant characteristic of 2008 and 2009.