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Online Slots- The Fastest Growing Industry?

Online Slots- The Fastest Growing Industry?
Written by
Alex Carlson
Published on
April 30, 2020
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Public taste is constantly changing and certain crazes are all the rage for a while, until something new grabs people’s attention. Even in the gambling industry, new trends such as free spins and bonuses appear that alter what people choose to gamble on. There are already plenty of niches in gambling and the dawn of the internet age created even more. It also made gambling more popular than ever before and brought it to the masses.

The Era Of Change

Some of these new niches were more popular than others and some traditional forms of gambling suffered at the hands of the growing popularity of what was on offer online. When substantial parts of the gambling industry hit the internet, this move brought about a huge change in the world of gambling and this left a trail of winners and losers. The biggest victors of this upheaval were the slots. Since the birth of slots all the way back in 1895, it was clear even back then that the public is fascinated by these machines. From the first electronic slot in 1963 to the online slot revolution of the digital age, this sector continues to grow rapidly. The reasons are many but some pointers to this sharp growth can be attributed to the advancements in game design that have made them more fun to play.

The Birth Of The Video Slots

Slots are no longer just fruit or card symbols spinning on reels. There now are slots based on popular cultures such as movies and superheroes. These games contain complex animation, sound, and graphics and bonus rounds are more sophisticated than ever before. In fact, it has now become a totally immersive experience like other forms of entertainment. Technological advances are not the only reasons behind an increase in the number of people spinning the reels. There is more slot game choice and the entire industry has got far more accessible thanks to the internet. You can now gamble on whatever you fancy 24/7 in the comfort of your own home anonymously. Another fact that is fuelling the success of online slots is that it appeals to both males and females. Other forms of gambling like sports betting, continues to be a male-dominated affair. This is not the case for online slots, as 39% of players are female and this share is increasing year on year. Online slots now contribute to a major portion of the revenue that comes from gambling and this is predicted to increase further. The appeal is global and not just limited to the UK where over £2 billion in revenue can be attributed to slots and more especially online slots.

Final Thoughts

The UK has some of the tightest gambling controls in the world and these are getting tighter still. With a ban on gambling with credit cards and the introduction of betting limits on fixed-odds betting terminals, already in place, any other regulations could end the reign of slots as the fastest growing industry on the market.Image by OpenClipart-Vectors from Pixabay

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