Online Bingo Becomes More Popular

Online bingo is becoming the fastest-growing form of internet gambling. Auction of Cashcade, owner of the popular Foxy Bingo and Getminted, has sparked wide interest.

Cashcade is expected to fetch £70 million to £100 million with PartyGaming tipped to seal a deal. 888 Holdings and Paddy Power are also bidding for Cashcade.

The online bingo sector was worth $1.4 billion last year on a global basis. It is expected it will reach $1.7 billion this year and $2 billion in 2010. The UK accounts for about 20 per cent of the market.

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