Global Online Bingo Games Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Online Bingo Games Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Online bingo games are games played on the Internet by bingo games. Unlike the balls used in regular bingo halls, the online bingo game site uses a random number generator. Most bingo halls also provide links to online poker and casino products because customers are usually in the target market. Bingo games on the Internet are receiving something in value at the end of a game, which is usually money. A significant feature of online bingo games is the chat function. The Bingo website strives to cultivate a sense of community and interaction among players, as this helps customers retain.

Market Overview:

The latest research study on the global Online Bingo Games market finds that the global Online Bingo Games market reached a value of USD 2648.73 million in 2022. It’s expected that the market will achieve USD 3797.18 million by 2028, exhibiting a CAGR of 6.19% during the forecast period.

Influence of COVID-19 Outbreak on Online Bingo Games Industry Development

The COVID-19 epidemic has infected many people, and its spread and scope far exceed SARS. Countries around the world continue to strengthen prevention and control to control the spread of epidemics, but the impact of epidemics on various industries is different. The impact of COVID-19 on the Online Bingo Games industry will involve all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, network expansion has been delayed, and marketing has been delayed. The impact on the Online Bingo Games industry depends on the prevention and control effects of COVID-19. The spread of COVID19 has accelerated the demand for online gambling. In addition, more and more digitization and secure digital payment methods are also some of the factors driving the growth of the online gambling market. Due to the increasing use of digital currencies and the company's website for gaming and gambling, it is expected that the market will gain momentum during the forecast period.

Policy Support

After the US Supreme Court legalized sports betting in the United States in 2018, online gambling companies may expand their sports betting options. The new law allows online casinos, online poker, sports betting, etc., which will further support market growth. Since the day of legalization, the gaming and gambling industry has experienced very stable growth and generated considerable international income. The gambling and gaming industries provide employment opportunities for the majority of the population. The gambling and gaming industry consists of any type of gambling or gaming. Games and gambling played online via the Internet include games played on handheld and mobile devices and / or iTVs with online capabilities. Due to the increasing accessibility of the Internet, virtual users are increasing every day around the world, so virtual, online gambling and games are steadily increasing.

Limitations

For the online bingo business to obtain permission from the relevant jurisdiction, it must first take precedence over anything else. When a certificate is obtained, it is half done, although winning a certificate for the online gaming business is not as easy as people think. However, because the gambling business is favored by some countries, and the registration process is quite long-usually taking a few months to a year. Therefore, there are some external boundaries in the online bingo business. For example, obtaining the correct bingo license is considered to be one of them, because the lack of it will limit any online game activities.

Opportunities

Over the past few years, market leaders have focused on mergers, mainly to increase market share and increase profit margins. For example, Stars Group Becomes Sports Betting Giant, completes $ 4.7 Billion Takeover of Sky Betting & Gaming, Paddy Power Plc and Bet fair Plc merge into Paddy Power Betfair Plc. Similarly, GVC Holdings Acquires Ladbrokes Coral Group. Many online gambling companies rely on third-party providers (such as Playtech) to obtain software. However, some companies choose to integrate backwards. 888poker has invested a lot of money in developing its own software and online gaming technology, mainly because it does not rely on suppliers. In the future, with the continuous innovation of technology, independent research and development of software will greatly improve the competitiveness of enterprises.

Region Overview:

Geographically, Europe held the largest market share – 52.44% in 2022.

Company Overview:

GVC Holdin is one of the major players operating in the Online Bingo Games market, holding a share of 5.76% in 2023.

GVC Holdin

GVC Holdings PLC is an e-gaming operator in both B2C and B2B markets. The company's line of business includes the provision of internet gaming, sports betting, casino, poker and bingo services.

Bet365 Group Limited

BET365 Group Limited engages as an online gambling company. The Company provides a range of betting opportunities for various sports, including football, horse racing, tennis, cricket, and basketball, as well as casino, games, poker, and bingo rooms online.

Segmentation Overview:

As for product types, the 90 Ball Bingo segment held the largest market share in 2022.

Application Overview:

In the Online Bingo Games market, 92.02% of the total value was generated through the Entertainment segment by application in 2022.

Key Companies in the global Online Bingo Games market covered in Chapter 3:

GVC Holdings
Bet365 Group Limited
Flutter Entertainment
Betsson AB
NetEnt Casinos
William Hill
Kindred Group
888 Holdings plc
The Rank Group
Tombola
Gamesys Group
The Stars Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Online Bingo Games market from 2018 to 2029 is primarily split into:

90 Ball Bingo
75 Ball Bingo
75 Ball Variant Bingo
30 Ball
80 Ball

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Online Bingo Games market from 2018 to 2029 covers:

Entertainment
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)