Changes to Bingo Sector Bringing New Opportunities for Investors

0
2

As part of an enormous and still expanding online casino industry, bingo is a game still evolving. Following growth seen in other arms of this industry, the path forward for bingo might not have been as straight, but the recent modern potential is some of the most promising in history. 

With new opportunities opening for investors in both the online and offline forms of bingo gaming, there has never been a better time to get involved. Now solidifying into a new era, there remain some question as to how what is sometimes seen as an older game achieved such resurgence. The answer comes down to the evolution of the game, its targets, and the surrounding technology.

Evolution Within Bingo Gaming

The idea of bingo as an older game is one with a basis in historical fact, though its origins tend to be understated. Beginning as far back as the mid-1500s, early forms of bingos were lauded for their simplicity and availability for social engagement.

Together, the two elements are regarded as two pillars which have provided the popularity to this day. Players still enjoy both aspects, with a temporary decrease in popularity coming from image more than actual player appreciation.

Bingo cards” (CC BY-ND 2.0) by sarae

Caption: A traditional bingo card, now increasingly replaced by digital tablets

This meant evolution within the physical gambling sphere had to focus on rebranding, rather than any attempt at rebuilding the already well-established rule sets.

In offline bingo, the type which is commonly seen in parlours or land-based casinos, this evolution proved hugely profitable. Investment on this front allowed the replacement and upgrading of older facilities, both in terms of physical comfort and with newer technology such as tablets for digital gaming.

Not only did older services which changed their looks succeed, but it also opened up newer investments where none has existed before.

Among the more unusual of these are those targeted at club culture. Bingo games available on this front encourage fun and dancing, while silly prizes act as much as social interest as a real reward.

On these fronts, investors have now seen opportunities to invest in traditional and newer forms on bingo. Online variants took a different tack, as necessitated by the realities of bingo digitalisation.

Operating in an online environment means that the social aspect of bingo has been diminished, although there are often chat rooms and chat hosts to entertain online players.

With this social aspect not so readily available, those who offer online bingo instead have been focusing on increased bonuses and variety of themes. Wink Bingo, for example, offers deposit matches which match or exceed the quantity deposited by the player. This is combined with convenient 24/7 accessibility, and the availability of different types of bingo such as free bingo, 90-ball, and 75-ball. Together, this makes online bingo not just a possibility, but a desirable alternative for many players.

Increase in Possible Digital Audience Engagement

The online portion of bingo gaming popularity and investment possibilities owes its unprecedented popularity to the greater growth of the digital age. Digital devices are now ubiquitous, with investment into many digital sectors having a direct or indirect effect on growth.

In 1995 the total amount of users connected to the internet was around 44.4 million. Twenty years later this had increased to 3.2 billion, a number which is still on the rise.

Connectivity growth on this scale created a boom for consumers and producers. Online casinos were early victors in the online world, with their popularity aiding in their success through the dotcom crash where many other online industries suffered.

As of 2017, the market size of the online casino industry sat at around $45.8 billion US. Current forecasts predict growth to $94.4 billion by 2024. Traditional casinos which offer poker and slots play a substantial part in this, but the overcrowding also means that the re-emergence of classics like bingo offer ample potential.

smartphone” (CC BY 2.0) by http://tvorbaweb-stranok.sk

Caption: Smartphones have brought with them a new level of connectivity and convenience

Aiding in this raw growth was higher levels of accessibility which came about through mobile devices and the surrounding infrastructure. With smartphones, players of online games, especially those with less demanding requirements, became able to play far from their home computers.

With Wi-Fi connectivity still widening and improving, this has created a situation prime for exploration and business expansion.

The other side of this equation from the investors perspective is that, as a simpler game, bingo is one which could prove cheaper than many alternatives. 

Opening a physical parlour would naturally incur more running costs than a digital alternative, and the relative simplicity would mean that the potential for cheating would be low. Factoring in the lower prizes involved with this social form of the game, and the expenses relative to a more expansive casino parlour would inevitably run lower.

Similar claims could be made about online versions of bingo for those interested in investment. Online casinos often rely on offering hundreds of varieties to bring in players. This means many more chances for the games to go awry, an issue which is not likely with a few key forms of bingo available for players.

Operating costs for digital games also inherently run lower than their physical counterparts, as staff and rental costs are largely mitigated.

Local and International Investment

Bingo parlours have returned, bringing with them more comfortable and convenient forms of traditional play. The online casino market is still on a strong upward trend, bringing with the possibility for new forms of bingo, new methods of engagement, and further investment.

Taking these elements as a whole, the potential of bingo and its viability as a means of investment is hardly as unusual as it might have originally seemed. 

For fun with friends, trying your hand at winning or even maintaining an active brain for the potential of healthier long-term outcomes, the real surprise for many is that the game saw a lull at all.

Those looking for investment opportunities in this industry should not overlook the possibilities which this form of gaming holds. Whether taking a form old or new, with players young and old, bingo is on the rise.