Online gambling companies expect over $1 Billion in online bingo
Several of the biggest online gambling companies are expecting sales to increase as online bingo takes Europe by storm. Revenue from online bingo is expected to increase over 20 percent in the next couple of years, the total could be about $1.3 billion ending 2009 and by the end of 2010 it is looking like close to $1.6 billion.
The online versions of the ever popular game, bingo, seems to be a lot more resilient than other forms of online gambling, as the nastiest recession since World War II digs in a little deeper. Consumers have been restraining from spending too much money, so instead of going to traditional bingo halls, players have been turning to their computers. The world of online bingo is a baby compared to the veterans like online casinos and poker.
Two of the biggest bookmakers in the UK have reported increase in sales figures. William Hill has said that online bingo and skill gaming has risen by a huge 50% , but sales in their outlets fell. The company is looking a 50% growth by 2010 that would bring their $150 million. Ladbrokes who own over 2,300 betting outlets in the UK and Ireland, reported an increase by 30% in online bingo revenue.
The online gambling company, 888, which offers a full range of online gambling facilities including online casino games and online poker, expects to generate $100 million in annual revenue from online bingo in a few years. The income generated now tops $40 million.