Bingo Thrives During Recession

A recent report by PriceWaterhouseCoopers has revealed that, since the recession began earlier this year, online gambling has become the most popular leisure activity in the UK. While online gambling profits decreased by 5% last year, it was a much smaller loss than most other internet-based gaming industries have recently experienced.

Officials have also singled out online bingo, predicting that its profits will suffer another decline by the end of 2009, but calculates that they will total less than 3%, making bingo the most resistant form of online gambling to the effects of the recession. It has even been said that the ban of smoking in bingo halls has had more of a negative effect on the industry than the recession. The bingo industry also benefits from the income of its target demographic who are mostly retired and receive pension, much of which will become disposable income due the declining inflation rate that the recession has caused.

When the last recession hit the UK, land-based gambling suffered great losses and officials predict that this year will be no different. As they did in the early 1990s, gamblers are looking for more home-based entertainment, and online bingo offers the perfect opportunity for players to satisfy their gambling appetite from home. The online bingo industry has become one of the most competitive in online gambling, as each bingo websites tries to top all others by offering bigger jackpots and better bonuses. Resulting in huge benefits for avid bingo players, this competition singles out online bingo as a growing industry that is almost immune to the recession.