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Is Online Bingo the New Kid on the Gambling Block

August 12 - Three of the world's leading gambling companies - William Hill Plc, PartyGaming Plc and 888 Holdings Plc - have recognized the growing interest in online bingo, particularly in many European countries where the traditionally British game is starting to catch on fast.

According to data compiled by leading English research firm, H2 Gambling Capital, revenue generated from online bingo will increase by more than 20% in 2009 and 2010, totaling approximately $1.3 billion by the end of this year and $1.6 billion by the end of 2010.

Interestingly, online bingo has proven to be far more resilient than other forms of gambling during the current global economic recession, which has seen a decline in consumer spending. This has even had a knock-on effect on land bingo halls, which too are feeling the pinch.

Said H2 director, Simon Holliday, 'Online bingo is the least mature area of online gambling, considering online casinos, online poker rooms and online sportsbooks have been leading the way. Online bingo is in such an early growth phase that any recessionary impacts are outweighed by its newness.'

Leading UK sportsbook William Hill says that its net revenue for online bingo and skill games rose by 50% in the first half of 2009, while sales at its shops fell by 1%. According to reports, William Hill is expecting its gross bingo sales to increase by as much as 50% in 2010.

One of William Hills largest rivals, Ladbrokes, which owns over 2300 UK and Ireland-based betting shops, reported a 30% increasein its online bingo revenues, while revenues at its shops dropped by 7.4%. The company has not released its forecasted online bingo revenues.

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