UK Bingo Spending Big Bucks on Advertising
UK bingo operators are dropping record amounts of money on advertising in hopes of staying ahead of the competition. It’s an arms race that’s great news for advertising agencies and the big three bingo operators but bad news for bingo newcomers.
According to a report in EGR Magazine, bingo companies spent £19 million ($29.5 USD)millionon advertising during the first four months of 2013. That’s up a whopping 48% over the same time last year. For comparison, the industry only dropped around £26 million ($40 million USD) in all of 2010.
A good chunk of all that advertising cash is coming from UK bingo’s big three bingo bosses. Here’s what they dropped during the period January and April of this year:
- Tombola – £2.9 million
- Gamesys – £2.3 million
- Foxy Bingo – £2.3 million
According to the EGR report, virtually every UK bingo operator is upping their TV advertising buys in hopes of cashing on bingo mad Brits. Of course that’s making it tough for bingo newcomers to compete. One advertising insider quoted in the story said:
The UK is a relatively mature market for online bingo, and new entrants need to have deep pockets when it comes to advertising.
But not every company is throwing resources at bingo. Paddy Power, Ireland’s largest independent bookmaker, hasn’t spent a dime on bingo advertising this year. Last year the company spent just under £2 million in TV bingo advertising.
Are you feeling the effects of the UK bingo boom? Share your experiences in the comments section below.