The Projected Growth of Bingo in the UK
Bingo has been growing as an industry for some time and 2020 proved once again to be a landmark year for the game. So what is the landscape of bingo in the UK currently and how is it set to grow over the coming years?
Bingo in the UK Today
Studies show that gambling today is worth around £430billion around the world and is growing at a rate of around 5.9% per year. Online gambling is worth around £35billion, with bingo playing a big part in that.
In the UK online bingo sites generated over £1billion in revenue with bingo halls enjoying £688.3million in 2018.
Across 2019, it’s believed that 5.6 million people played bingo online to generate the £1billion, a number bigger than the amount of people who subscribe to Amazon or Apple Music, while the figure generated also is larger than Spotify and Netflix have generated, placing it at the very heart of the entertainment industry.
The Future of Bingo
Online bingo is seeing a huge surge of players, and it was believed that some bingo sites enjoyed a 30% rise in new players earlier this year. That leaves the future of online bingo in very good shape.
Bingo online is welcoming younger players than ever before and by 2024 online gambling is expected to be worth £72billion, with bingo playing a major role in that.
The advancement in technology over the coming months and years is only going to be a catalyst for that figure to jump further too. Augmented Reality and Virtual Reality will have a big part to play in that, especially as the game does continue to further appeal to younger adults.
Next gen smartphone devices will also help take bingo to the next level. Mobile bingo is already hugely popular and the rise of gaming as a whole on our devices is only going to see people dip into the app stores and try out bingo for the first time.
It’s safe to say that bingo is on an upward trajectory once again in the UK.