888 Holdings have announced that revenue is up by as much as four time of that during the same period last year and this is attributed to the 888 Ladies bingo site post TV advertising for the site.
Chief Executive officer, Gigi Levy commented that the online bingo industry is booming everywhere, but there is a difference between the online game and bingo played in traditional bingo halls. The demographic is completely different with online bingo attracting women who are young, earn above average incomes and are internet consumers.
He also said that people are cutting back on leisure activities, but that the difficult economic climate will have no impact on growth in online bingo. Although people are spending more time in their homes, they are still spending money playing online bingo. This money may be in the low tens of pounds during the course of a month, with the prospect of perhaps winning some money in the form of jackpot prizes. There are huge numbers of these players, and although online bingo sites had very low margins, they also enjoy good profits due to the large number of online players. The Gaming Commission recently quoted that online bingo playing had doubled in size from 250 000 last year to 500 000 this year.
Media and retail companies are jumping aboard the online bingo bandwagon to enjoy some of these growth figures and to date there are 243 online bingo sites offering services to the UK.
