Online Bingo – a flawless business model?
The business model for online bingo could seem without flaw. And certainly it has come at just the right time to take advantage of the world’s economic and social situations. One could surmise that the recession should put people off gambling. Why risk your money more than you already have to? It seems ridiculous. Nevertheless, people seem to gamble more when they have less money, and the online bingo boom is proof of just that. Bingo businesses are sprouting up everywhere. Online bingo is making more and more money.
Bingo has money for nothing appeal
And it is my opinion that it is not due to the genius business plan which is online gambling be it in online casinos or online bingo, but more the fact that the hope of making fast cash for nothing appeals even more in troubled economic times. That is of course amplified by the fact you don’t even have to leave the house.
Gambling addiction may become more of a problem
Surely this is both a dangerous and fantastic thing. Obviously you save on transport etc, but you do have the problem of self control. Many people are completely incapable of this, and thus, many online gambling sites do post advertisements to call centres to aid with the problems that gambling addictions can cause.
Online bingo is a success
So, back to the success of online bingo, obviously online bingo is a great idea for those who cannot get out of the house for reasons such as immobility, children to look after etc, however I fear again I am getting slightly off topic. The impact of the economic climate’s dismal state has led to a great deal of internet business boom. This phenomenon has clearly spilled to bingo, why well we have examined people’s reactions to a lack of money, the aspiration to win big, the thought of saving money on transport, drinks etc.
Bingo TV ads fill our screens
Next I think the iconic, yet rather annoying advert assault the major players have bombarded our televisions with, whether it be that annoying 70’s fox or some silly woman singing about 20p, which clearly we all know, nobody cares about winning. Certainly the adverts impact the boom, but without the rapid expansion in the 1st place there would be no adverts. Thus, they are more part of a snowball effect on the bingo industry rather than having any catalytic properties.
Popularity of online bingo increases with computer literacy
The final point in the debate to the cause of online bingo’s success I will suggest is the increasing necessity of computers and the internet, more and more people are now computer literate. My generation of course having no qualms with the issue, but the elderly, those more likely to want to play bingo, and even my parent’s generation those in their 40’s etc have often been known to struggle. Today the numbers of people who struggle become less and less. Thus online bingo, and other web based industries have been allowed to flourish. And of course with IT being one of the few remaining growing markets the amount of people involved will continue to grow.
Now it would seem that the stand out point could be the growth of the computer literate, but I would argue despite how my writing could appear that the most important issue was in fact the recession. And the way people react as they have always reacted. There is a reason lottery sales were down in times of economic boom, if people are happy they don’t need to hope for a quick fix. If people have enough money they don’t hope to win more, unless there greedy, thus I would say online bingo owes its success entirely to the global economic crisis.
