Assessing the online bingo opportunity
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The online bingo vertical has seen a boom in the first half of the year. The Gambling Commission continues to tighten its requirements for casino and sports betting. Bingo aligns best with new safe gaming rules. It also offers a lower cost per acquisition and the ability to cross-sell players to other verticals.
There has been a significant rise in the number of searches relating to online bingo. The March and April numbers are particularly high, representing a 40% and 98% year-on-year increase on 2019 respectively. Sports events and sports betting decreased the search volume for online Bingo in June, but remained the same year on year. Gambling commission's survey found that the percentage of players that had taken part in bingos from January to June had increased from 24.1% in 2019 to 38.7% in 2020.
Search volume for "online bingo" has increased year-on-year. October and November saw a 23% and 46% increase in search volume respectively. There is a significant appetite for online bingos. The challenge is to maintain this level of interest. A number of operators are set to launch big TV campaigns imminently.
Bingo offers operators several advantages. It increases their share of the wallet and drives loyalty. Bingo allows operators to attract new players and demographics. They are cheaper to acquire than casino and sport betting players. They often go on to engage with other verticals offered by the operator. The high value players at online bingo sites are found through their slots play.
Bingo aligns with the latest responsible gambling and safe gaming requirements. Online slot players can wager upwards of £100 per spin, but bingo tickets can be purchased for as little as £0.05. The data shows that bingos are booming and there is regulatory scrutiny. PlayOJO, LeoVegas and 888 have already made bold moves in the space.
Lillian Grey is head of content at BingoSites.net.
