Bingo and the Lousy Economy
2008 was a very good year for the gaming community according to the GBGC (Global Betting and Gaming Consultants). The gross income was around $20 billion dollars for the year. Of course this included all types of gaming and not just bingo. The point is that the public is spending hard earned money on the Internet for gaming online.
In the 30s when the economy was in dire straights, the on track betting was bulging as people tried to make money any way they could. There is an urban myth that the garment businesses were hiring professional gamblers to go to the track and make them money by wagering so they could keep their businesses alive. . The casinos in Vegas were seeing a high volume of gambling in the early eighties, as the public was again desperate for money any way they could get it.
It is different this time as the live casinos are seeing fewer people and the high rollers seem to have hunkered down for the time being. In the US, both Vegas and Atlantic City are seeing a drop off in gaming of all kinds. Gas prices are high and many people are staying home until they feel more confident that they are not going to lose their job.
Online gaming is another story. People are staying home and they still want to be entertained. Movie rentals, TV and the Internet are favorites for many people. Internet gaming is also getting its share of revenue from these stay at home players and bingo is one of the lucky recipients of this economic slowdown. Bingo is a cheaper form of gambling with the possibility of a score. Besides people love to play bingo for entertainment or they never play a single game.
Due to the low cost of bingo cards it is the ideal gaming vehicle in these difficult times. People are willing to risk twenty or thirty dollars to try and win $1500. They are also seeking a diversion from the worrying times they going through. The present situation, the need for money and the poor economy, sets up a further increase in Internet gaming of all kinds, but especially online real money bingo. This is like the perfect storm of events that will induce players to stay and play on their favorite bingo site. As always one person's misery is another person's windfall. In this case, it is possible that some lucky player may win a sizeable jackpot and the house will take in more revenue from the extra playing time the players are spending online.
Poker sites are also seeing an increase in players online. However that is a more expensive proposition for the poker gamers. As stated before, bingo is the perfect gambling game for these times
Bingo fanatics would probably play no matter what, but this need to find extra funds from somewhere will definitely increase the player count on bingo sites. I wonder which sites will be offering bigger daytime prizes to keep these players coming back for more. This could present the bingo sites with another gain and that is the more people play, the more likely they will continue to play more than before this all came to pass. Another win for the online bingo sites from an unlikely source.
The advantage to bingo players is the games will be better attended which should increase some of the jackpot pools. More players equals more money for the winner of each game. The smart players and the bingo sites with good management will take this opportunity and milk it for all its worth.