Bingo Sites Closing, Slot Sites Opening

The past few years have been something of a rollercoaster for the gambling industry, with particular changes felt in the slots and bingo niches where the popularity of bingo has been declining whilst slot games have been experiencing a meteoric explosion in popularity.

Around a decade ago there was the initial boom when the needle started to budge and there was a bit of a landslide which saw traditional bingo players join gambling sites. Bingo Halls around the country were beginning to close as players were swapping their paper bingo cards for the virtual equivalent. The early bingo sites were offering players fantastic sign up offers in order to get them to take the time to register and some would even offer players a no deposit bonus i.e. you would get free bonus money without even spending a penny.

Free Bingo games were a massive attraction on sites such as Costa, Foxy Bingo and Rocket Bingo where players could bag hundreds of pounds, playing for free but winning real money. without even spending a penny on their bingo tickets. So, when did the mass exodus from bingo sites begin?

Tax Changes

In 2019 there has been some changes to the law where bingo sites are taxed on the bonuses they give out, this lead to online bingo sites like Rocket Bingo removing their deposit bonuses and opting instead for wheel based welcome offers. This has had a massive impact on the industry, to such an extent they’ve had to rethink their welcome offers entirely.

We’ve seen a lot of standard 300% or even 400% bonus matches for new players removed or reduced to a mere 100% match. This has also affected the re-deposit bonuses where these are sometimes eliminated completely. Understandably this move hasn’t gone down very well with the customers who really relied on this to motivate them and keep them playing at the site.

Slot Jackpots

Slot games are no longer noughts and crosses and one-armed bandits. They’ve changed drastically (for the better). Modern, high energy slot games are extremely entertaining and have all sorts of jazz and novelty to keep players engaged. Some of these slot games are connected to mega jackpots that can give away life-changing sums of money. This includes the possibility (however remote) to win many, many thousands of pounds.

Competition

When bingo sites were initially released there were but a few big players in town. This included Gala Bingo, Mecca, Tombola and Foxy Bingo. The dominant few have remained to this day, but after their initial time in relative solitude, they were joined by literally 100’s of other brands, many of which over time (particularly in 2019) have closed their virtual doors.

Wagering Requirements

Some people have lost trust in the bingo sites as certain brands have made it increasingly difficult for players to make withdrawals. These difficulties stem from the sites wagering requirements where players are sometimes required to wager a multiplier of their bonus before they’re eligible to withdraw. We have seen multipliers up to x75 which make it more of a challenge for people to get their hands on their winnings, discouraging players from becoming loyal in the process. Many player are said to have lost their trust in bingo sites and tarred them all with the same brush and moved over to casino or slots sites in search of better treatment.

If you want to try online bingo, you can still find plenty of places online which offer it, including interestingly, a lot of the brands that market themselves primarily as slot destinations.

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