Online bingo can’t stay out of the headlines these days. Recently, 888 Holdings made news with the purchase of bingo operator Globalcom for a massive $32.4 million. Why all the fuss? It’s because casino, sportsbook and poker operators are beginning to see that bingo means big business.
Bingo’s business model is quite a bit different than more traditional online games, and it’s less about winning and more about socialising and being entertained.
Many top gaming brands have had a wait-and-see attitude towards bingo. They’ve taken time to gather facts and figures for proof that bingo will work for their business.
Bingo is the perfect catalyst to take online gaming brands into the mainstream and make them household names. Bingo reaches new audiences and increases cross-promotion opportunities with existing customers.
Seven Bingo Fast Facts
- Apart from the lottery, bingo has more mass market appeal than all other online gaming products.
- Bingo’s hold averages 35-40%, while slots average 2-3%.*
- Turnover on slots actually makes up 50% of the margin at most bingo sites.*
- Bingo chat rooms can achieve 7,500+ lines of chat each hour.*
- When comparing total number of admissions, bingo is more popular than the cinema.
- Online bingo players have more loyalty and play longer than the average casino player, often every day for hours at a time.
- Global online bingo revenues are expected to reach $1.04 billion USD by 2008.**
* St. Minver Study
** Global Betting and Gaming Consultants
