According to some recent reports Online Bingo is beginning to feel the affects of the recession. In the last quarter of 2008 there was a total increase in people playing online bingo of just 1%. While it is still an increase it is down significantly on the 10% increase the previous quarter experienced.
The recession is an obvious answer to why the number of those playing is leveling out. It’s understandable as people face the prospect of unemployment that they are cutting back on spending, especially on the more luxurious items such as online bingo. Also the last quarter coincided with Christmas meaning the majority of the money that was being spent was going towards gifts and food rather than online gaming.
Recession is not the only reason bingo chiefs are starting to get nervous. After years of growth and bucking the credit crunch for so long, many bingo sites have launched to entice the bingo players of Britain and all there money. The vast number of bingo sites available has created market saturation. More and more site are competing for what could be declining number of customers, this will inevitably lead to many smaller site going out of business and many of those that survive will merge or be bought out by others.
To many people the news of the slow down in online bingo has come as no surprise. Some see the fact that a lack of advertising during the last quarter of 2008 contributed to the 1% increase in online players. The Christmas period is such a competitive time for marketing and advertising, companies will pump millions into there ad and marketing budgets for the months leading up to Christmas making it very difficult and extremely expensive for online sites to advertise. Now that Christmas is over more and more bingo companies will find it cost affective to advertise again.
Every one will be keeping an eye out to see if an increase in advertising and new marketing campaigns will combat the affect of the recession and bring more people to online gambling or as the recession takes it grip we will see a fall in those playing online bingo for the first time.
The recession is an obvious answer to why the number of those playing is leveling out. It’s understandable as people face the prospect of unemployment that they are cutting back on spending, especially on the more luxurious items such as online bingo. Also the last quarter coincided with Christmas meaning the majority of the money that was being spent was going towards gifts and food rather than online gaming.
Recession is not the only reason bingo chiefs are starting to get nervous. After years of growth and bucking the credit crunch for so long, many bingo sites have launched to entice the bingo players of Britain and all there money. The vast number of bingo sites available has created market saturation. More and more site are competing for what could be declining number of customers, this will inevitably lead to many smaller site going out of business and many of those that survive will merge or be bought out by others.
To many people the news of the slow down in online bingo has come as no surprise. Some see the fact that a lack of advertising during the last quarter of 2008 contributed to the 1% increase in online players. The Christmas period is such a competitive time for marketing and advertising, companies will pump millions into there ad and marketing budgets for the months leading up to Christmas making it very difficult and extremely expensive for online sites to advertise. Now that Christmas is over more and more bingo companies will find it cost affective to advertise again.
Every one will be keeping an eye out to see if an increase in advertising and new marketing campaigns will combat the affect of the recession and bring more people to online gambling or as the recession takes it grip we will see a fall in those playing online bingo for the first time.
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