Bingo set to “continue its resurgence” post-Covid

UK Bingo continued resurgence
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UK bingo “will continue its resurgence” in the wake of Coronavirus”, the South Atlantic news agency Merco Press predicted in its recent appraisal of the popular gaming sector.

 

It will, they noted, continue ‘the significant contribution bingo already makes to the country’s economy’.

Merco’s report highlighted bingo’s place as the fourth most profitable gambling vertical in the UK, with GGY for “remote bingo” alone hitting £198m in 2018-2019.

“Bingo generated about £1bn in revenue in 2018-2019. This can certainly be classified as a significant contribution, larger than Spotify and Netflix combined,” stated the report. “Research firm Midia reported in 2019 that 5.6 million people played bingo that year – more than those who subscribed to Amazon.”

“When it comes to taxation, we know only that UK revenue and customs duty receipts for bingo amounted to £30.8 million in 2019-2020.”

With the global online gambling market predicted prior to the pandemic to double its turnover from £35bn to £72bn by 2024, the effects of lockdown are likely to bolster growth even further.

“Bingo is benefiting from the gambling industry’s overall growth. The switch to online environments has increased bingo’s popularity and brought it closer to the younger generations, especially young women.”

“While the Coronavirus has negatively impacted gambling and betting in the UK, if and when things get back to normal, it’s safe to say that bingo will continue its resurgence.”


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