As the popularity of online bingo seems to show no signs of slowing, it is little surprise that more and more brands are launching to try and take advantage of the ever expanding market.
At the time of writing there are approximately 360 online sites out there with new bingo sites popping up daily. In 2015 we have already seen about 30 new sites take to the market, mostly offering pretty much the same as the ones which came before them.
As a business proposition bingo has lots of strong points. After all, player values can be high and start up costs, if joining a network can be low (more on that to come). It is these reasons that generally seduce new investors to try and forge their own slice of the market.
What people entering the market tend not to realise is that due to there already being well over 300 other competitors, despite the expanding market it is extremely difficult to take a slice.
Many of the people launching new bingo sites do so on a shoestring budget with no extra funds for marketing. This is generally where the problem lies. Without a marketing budget it is very difficult indeed to acquire new players and generate revenue. Continue reading