The bingo market has changed dramatically over the past 10 years, particularly in the online sector where the number of new entrants to the market has been staggering.
As of July 2015 there are now over 350 UK bingo sites available to players. These numbers show no real signs of slowing down with new brands appearing on a weekly basis.
This continuing trend in 2015 goes against the predictions of many well-respected industry commentators who estimated the growth would slow. Their opinions were based on the assumption that the new point of consumption tax (POC), introduced in December 2014 would render many of the smaller operators non-profitable.
Whilst it is probably true that many of the smaller brands, largely those who operate as white labels struggle to generate adequate income to be profitable, it is unheard of for a white label brand to be shut down.
Whilst it simply is not the case that the rate at which new brands are launching has slowed, it is worth pointing out that gone are the days when new operators would appear with their very own site.
Nowadays just about all-new entrants opt to become part of an established network of brands. In other words, investors tend to become white label owners, which in effect means they own a brand and have it powered by networks software systems.
This approach has lots of benefits, the main theme of these being that launch is inexpensive. The way it works is that all brands are essentially ‘plugged in’ to the same infrastructure and therefore share resources ranging from servers to staff.
Due to networks wishing to acquire more market share, launching a new brand can either be inexpensive or free for an investor. It is largely for that reason that the world and his wife now seem to own a white label bingo brand.