The bingo industry has been subject to many changes over the past decade and operators have been on something of a rollercoaster with both winners and losers emerging.
Many physical clubs on the high street are closing as people are now tending to enjoy their gaming online. But what’s behind these changes and are they sustainable? Value for money can be a factor as can entertainment, choice and even the accessibility of payment methods.
When people are looking at bingo sites and deciding where to play, there’s a lot of choice! This includes sites that are already very well-known brands but also a lot of sites that are start-ups and what we refer to as ‘chancers’ – people who simple ‘have a go’ in the industry, typically departing a short time later.
As per their title, you’d assume bingo sites would specialise in bingo games – and you’d be correct. But did you know they also take a large amount (almost all, in fact) of their revenue from slot games? You’ll find that the typical UK bingo site has more than 600 different slot games to choose from which include classic slots, multi-line slots and jackpot slots. In a lot of cases, you can even win more than a million quid from playing a slot game if the site in question offers pooled jackpots.
Bingo sites really rely on their slots revenue and in most cases it has become the main staple of their profitability. After realising the popularity and profitability of slot games early on, bingo brands lured their bingo players into playing these games on the side whilst playing bingo, slots used to be known as side games at bingo websites, a position that has pretty much reversed.
Whats the appeal?
If you’re not a gambler, you may be wandering what on earth it is that draws people to play slots. Generally speaking people come for the exhilaration that can be felt when wagering real money, the ability to win or lose in a matter of seconds. Players are also seduced by the appeal of large jackpots and even the design and entertainment factor of the actual games.. There are scary slots with spooky characters and music and there are slots designed on our favourite TV programs or films. It has become one of the most overhauled parts of the industry and slots have come along way since being known as one armed bandits.
More Than Just Slots
Not only are slots part of the additional games that bingo sites offer but you’ll normally find they include some casino games like blackjack and roulette and even maybe some scratch or instant win games too. The revenue that is taken from these type of games is significant and almost always outweighs that taken from bingo games. If all of these slots, casino and instant games were to be removed from the sites then the brand would probably close overnight.
Due to changes in UK gambling regulations, any bonuses that are rewarded to players in funds are liable to taxation. As a result, you’ll have noticed a lot of sites have in turn changed their approach and in order to continue to entice players to join their site and come back, they now offer “free spins” on different slot games. This loophole is pretty commonly used and if slots were removed from bingo sites then this offer would disappear sending operators back to the drawing board to conjure up a new tax efficient welcome package.
All of these reasons are key factors why it’s nearly impossible to find a bingo site without slots. For you as a player, it just means the best of both worlds. You get a great game of bingo and the chance to spin some slots in between!