UK Gaming Revenues Prepare for Sharp Drops as Other Online Games Set to Rise!

A staggering fact is that the British Bingo industry is worth close to £1 billion – that figure is courtesy of 2019’s official revenue figures from a market research project carried out by Statista!

Churning out numbers in the hope to fill up your card with numbers is still a favourite pastime for many Brits and booming business on both the land-based and online stages.

Between April 2019 and March 2020, figures according to the Statista UK Bingo revenue research project, show the total revenue that came from mechanised cash bingo, main stage bingo, or prize bingo entertainment was £909.85 million!

Main Stage Bingo Still Popular Despite Declines

Main stage bingo is part of the UK’s huge array of bingo halls and clubs. People not only go to play bingo, but also to socialise. This sector of the niche pulled in the lion’s share of revenue during the UK tax period April 2019 and March 2020 with £551.2 million the official figure.

Yet, this figure is down from £712.76 million a decade ago showing a 29.31% decline.

April 2020 to March 2021 revenue figures are not yet here, but we can reasonably predict a sharp decline in these figures as bingo venues closed for business most of the year.

Online Bingo Predicted to Show a Sharp Rise is Revenue

Despite closures to brick-and-mortar bingo halls across the UK, Bingo fanatics were not completely shut out. Today UK Bingo sites flourish on the World Wide Web.

Those that missed their regular visits to bingo halls can sign up to a bingo account online, grab hold of a bonus while they are at it and play bingo 24/7!

In some respects, online bingo is a major threat for live bingo, and now more so than ever. If you are willing to swap the social aspect of bingo halls for diversity, then UK Bingo sites are the place to be. Playing bingo online offers a more diverse experience.

There are more variations of bingo with novel bingo cards, Slingo slots which are a new approach in marketing online bingo that mixes bingo and video slot play, and themed bingo games.

What’s more, these sites offer value for money via deposit bonus deals and quite often no deposit bonus deals.

Players get diversity, free bonus money for their first deposits, free spins to play slots. Afterwhich the bonus winnings can transfer to Slingo slots, and the chance to opt-on for regular bonus deals that UK bingo sites offer daily, weekly, monthly, and for special occasions.

On top of this, playing at these UK bingo sites often reward players with loyalty points for deposits, slingo slots, and bingo games.

Points are exchanged for cash or collected to rise up a VIP ladder that gives players the red carpet treatment with extra bingo bonuses every week or month!

2020 Bingo Revenue Predictions

With last year mostly spent in lockdown for British citizens, 2020’s figures are expected to skyrocket online while naturally land-based bingo revenue will fall.

As with the numerous land-based casinos in the UK like the Grosvenor and Genting brands, the year saw the government introduce sporadic lockdown systems that left UK bingo entertainment venues closed for the better part of the year.

Conversely, UK online bingo sites were online and open for business. With lockdown in place and people at home, bingo players jumped online to continue their hobby remotely.

Meanwhile, and like many other online gaming websites, bingo sites will have attracted sign ups from those looking to pass the time at home i.e., people that have never really played bingo who signed up because an attractive bonus deal as playing bingo was something to do!

And, if we go by share price rises and revenue reports from other online companies that offer real money iGaming, such as live dealer giants Evolution, we can reasonably predict that online bingo revenue will also report a spike in revenue.

The post UK Gaming Revenues Prepare for Sharp Drops as Other Online Games Set to Rise! first appeared on Feedster.

from Feedster https://www.feedster.com/entertainment/uk-gaming-revenues-prepare-for-sharp-drops-as-other-online-games-set-to-rise/