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Room For More Growth Say Bingo Industry Experts
According to some internet bingo industry insiders the internet bingo industry is leveling out after a period of rapid expansion. During the last few years the UK has seen a proliferation of new internet bingo websites but things seem to be slowing down somewhat. It would appear that the online bingo gold rush is over. For a while it was incredibly difficult to keep up with all the launches of new bingo sites but according to experts the industry is now leveling off. Competition for players is still keen and most bingo sites are offering players ever increasing bingo bonuses, higher jackpots, more bingo and side games and vastly improved technology. Some internet bingo experts believe 2010 will be the year when internet bingo comes of age complete with mergers, acquisitions and takeovers.
Some gambling giants have entered the internet bingo market. Las Vegas gambling giant Harrahs has launched a new bingo site and the venerable bookmaking firm of Ladbrokes has operated a top internet bingo website for years. Despite the entrance of gaming giants established smaller internet bingo operators are holding their own against the large operators. Bingo operators who take their players for granted do so at their own peril and smaller operators are responding to challenges by gambling giants with highly original marketing using social networking websites such as Twitter and Facebook. Many smaller operators have added more side games and it has been reported that online roulette is running a close second to bingo in popularity among female players.
Since the larger operators have bigger budgets they can easily offer huge jackpots and engage in massive marketing campaigns. Since younger players are more tech savvy online marketing campaigns have been very effective for smaller operators allowing them to remain competitive in a somewhat cutthroat business environment. Internet bingo websites that offer opportunities for social interaction between players have a high player retention rate.
Figures suggest that internet bingo will be a $2 billion dollar a year industry by 2012. Industry experts say that internet bingo revenues for 2010 could easily approach $1.2 billion dollars. The CEO of Virtue Fusion, a bingo software developer, Bob McCulloch believes that the internet bingo industry has a very bright future. McCulloch stated, “After the developments we have seen over the past few years, it is somewhat inevitable that industry commentators are questioning if the UK market has started to reach maturity. It might now be worth hundreds of millions of pounds but there is still room for growth for online bingo. There is certainly more scope for new licensees on the network, though it is likely this will be at the expense of some of the smaller and less creative operators” In other words, smaller operators must stay ahead of their more well heeled competitors of go under.
The 5th Annual Online Bingo Summit
The online bingo industry is an important part of the online gaming industry. Bingo is big business these days and the industry holds its own annual summit in London every year. This year will be the 5th annual bingo summit sponsored by Bullet Business which specializes in issues affecting the online gaming industry. The 5th annual bingo summit will take place at the posh Victoria Park Plaza in London, July 8th and 9th. Most of the major online bingo companies will be represented at the summit. The online bingo industry is rapidly evolving and participants will learn new marketing strategies and can learn about the latest industry developments. Participants will include bingo operators, software platform providers, new bingo providers, analysts and consultants, recognized industry figures and affiliates.
Bullet business is one of the leading providers of iGaming business information and provides the industry with reports, whitepapers, targeted newsletters, and annual conferences addressing a wide variety of industry topics. Companies participating will include;
Online bingo operators Online bingo suppliers including; Platform providers, networks, game developers, Marketing specialists, Legal experts, SEO providers, and bingo analysts and consultants. Online payment and billing providers including; Payment, Pre-Payment, Testing, and Process Developers Other participants include; Scratchcard suppliers, Banks, and Lotteries
The list of companies that have already confirmed their attendance reads like a whos who on the online bingo industry! Attendees can expect to meet the top industry leaders at the 5th annual Online Bingo Summit. Although the summit is geared for European bingo operators US companies thinking about entering the lucrative world of online bingo should attend. It is only a matter of time before the onerous Unlawful Internet Gambling Enforcement Act is overturned and the US online bingo market will be opened providing the industry with millions of new online bingo players.
Obviously one of the hot topics to be discussed at the online bingo summit is player acquisition. In the past industry innovations have benefitted players in many ways. Summit participants will discuss how to make online bingo games better to attract and retain players and are sure to come up with innovative solutions that will make online bingo better than ever. Topics that will likely lead to new player perks include retention strategies, and a discussion of what online bingo players look for in choosing a new bingo site. The 5th online bingo summit will offer attendees decades of expert industry experience and is an eagerly awaited event in the online bingo industry.