02-Jun-2023 | Zion Market Research
The global online bingo gambling market size was worth around USD 60.01 billion in 2022 and is predicted to grow to around USD 145.43 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.70% between 2023 and 2030.
The online bingo gambling industry encompasses several online platforms and services that offer online bingo games for real money transactions. It involves provisions and space for virtual bingo games, where players can participate in a digital format from their computers, smartphones, or other internet-enabled devices. There are several bingo gambling variations present in the industry including 75-ball bingo, 90-ball bingo, and other variants. This involves the players purchasing virtual bingo tickets or cards and marking off the numbers when called, aiming to achieve the winning pattern before anyone else in the virtual room. Online bingo operators provide the technological infrastructure, software platforms, and user interfaces necessary for players to participate in the games. They also offer secure payment processing measures, promotional incentives, and customer support.
This review is based on a report by Zion Market Research, titled "Online Bingo Gambling Market By End-User (Social Exuberant, Gambling Enthusiasts, And Others), By Device (Mobile And Desktop), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/online-bingo-gambling-market
The global online bingo gambling market is projected to grow owing to the convenience and accessibility related to these games. Players have access to the games all day and 7 days a week. They can play the games from anywhere including their homes, while traveling, or during any other activity.
Furthermore, online bingo gambling is a form of social interaction since most of these platforms incorporate chat features that allow players to interact with one another. This social aspect of virtual gaming has proven to be effective in attracting more consumers to the market since it creates a sense of belonging and fosters a more engaging experience.
The online bingo gambling industry is also expected to benefit from the several varieties of gaming options available on the internet. This includes different themes, patterns, and prize structures and hence becomes more lucrative to a wider range of audience. The introduction of innovative features, such as progressive jackpots and bonus games, has also contributed to the market growth.
Online bingo gambling sites provide attractive bonuses and promotions to retain more players. This includes sign-up bonuses, free bingo tickets, cashback offers, and loyalty rewards which may not be available in physical bingo gambling centers.
The global online bingo gambling industry is expected to witness certain growth restrictions owing to the growing competition from other online gambling activities.
Furthermore, like any other such activity, online bingo gambling also poses a threat of addiction and the problems that arise due to it. Some individuals may develop addictive behavior and struggle to control their habits.
Additionally, online gambling requires the presence of a robust and secure technological infrastructure and events such as server outages, software glitches, or cybersecurity threats could damage market reputation.
Mobile gaming may provide growth opportunities while competition and saturation could challenge market growth.
The global online bingo gambling market is segmented based on end-user, device, and region.
Based on end-user, the global market segments are social exuberant, gambling enthusiasts, and others. The industry witnessed the highest growth in the gambling enthusiasts segment. They are people who showcase an extreme passion for different forms of gambling.
They tend to enjoy the thrill of taking risks, the competitive aspect of the game, and the potential monetary rewards. Social exuberant are people who enjoy participating in online bingo gambling activities due to community engagement prospects.
They primarily enjoy interacting with other players present in the chat rooms and building higher connections with them. They tend to prioritize the social experience over the monetary aspect of gambling. The last category includes people who are casual players, occasional gamblers, and individuals seeking entertainment or relaxation. The total gambling market in Europe was close to 81 billion euros in 2020 as per Statista.
Based on device, the global online bingo gambling market is divided into mobile and desktop. The former segment registered the highest growth in 2022 due to the growing population that is attracted to mobile platforms due to several reasons. For instance, many people use smartphones and tablets to play these games as they offer ease of use. They are portable devices and can be used on the go.
Players can access their favorite bingo games anytime and anywhere, allowing for greater flexibility and accessibility. These platforms also offer features like touch-screen controls and intuitive interfaces that enhance the gaming experience.
The desktop segment is also crucial to industry growth as there is a significant share of consumers who use these tools to play the game. A recent report stated that nearly 80.1% of all online gamblers use mobile phones for these services.
Europe is expected to generate the highest growth in the global online bingo gambling market due to the favorable government regulations surrounding the access and consumption of such portals. Furthermore, there are several players present in the regional industry especially in the United Kingdom. They have adopted strategic marketing and advertising activities to ensure the retention of a higher number of players.
Since these portals offer lucrative money-winning opportunities by just playing the games remotely, more people are attracted to online bingo gambling as the game is also considered to be less difficult as compared to other gambling events.
In North America and especially the US, every state has specific laws in terms of online gambling and Canada seems to be more permissive allowing more market player entry. Cultural preferences and social dynamics influence the online bingo market in different Asian countries.
The global online bingo gambling market is led by players like
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