Persistent economic troubles have plagued the US, Britain and most of Western Europe since 2008. Markets have been volatile and the election of a New Leftist Greek government has many in the Eurozone worried that Greece may default on its debts. This would be disastrous for the multi nation Euro and the economies of EU nations. During all of this economic turmoil, there has been one bright spot: online bingo. An article published in 2008, the year the recession hit full force, showed an 80% increase in the number of players at online bingo sites. During the six-month period from 1 May 2008 to 31 October 2008 the number of active online bingo players increased by 80% according to research by BingoPort.
While the increase surprised many at the time given the economic conditions, Scott Logan of BingoPort said that the figures matched up with their predictions. Logan stated “We have been tracking the U.K. online bingo industry for over 18 months now, and we are starting to see some fascinating and positive trends coming through. We are of course watching the U.K. and global financial crisis closely, but our data suggests active online bingo player numbers should continue to rise in the foreseeable future.” In 2008 figures showed that British players spend about 600 million pounds on bingo tickets annually. In a 2008 article Logan stated “We’ve seen unprecedented growth in the online bingo industry here in the UK in the past year. The fact that online bingo players are purchasing bingo tickets in the realm of GBP 600 million annually is truly amazing considering the credit crunch, but not surprising considering the licensing of the online gaming industry in the UK.”
Since then the growth of the online bingo industry has continued despite persistent economic problems and the credit crunch. The most recent figures from BingoPort show massive industry growth. During the period from October through December 2011, British players participated in 6,200,000 cash bingo games. The number of unique players was estimated at 463,982 and players wagered £243,243,978 ($387,507,286.32 USD) during the same period. These figures are from a three-month period, so it is easy to see that massive industry growth has taken place since 2008. Mobile gaming has presented the industry with new challenges and opportunities and currently is a market without much competition. Social gaming is a hot industry topic and is offering the online bingo industry the opportunity to create the next online bingo boom.