Is There An End To The Growth Of The Online Slot Industry?

In 1996, a new niche in gambling was created and this was the first ever-online casino. This was introduced to the world along with the first video slot. Both worked well together and this made online casinos a huge hit across the globe. It wasn’t just the popularity of slots that led to online gambling becoming supercharged, the accessibility of virtual casinos also helped to attract far more people who had never gambled before. Once substantial parts of the gambling industry hit the internet, this left a trail of winners and losers. The biggest victors of this upheaval were the slots. 

Slots Continue To Reign 

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 has made them more fun to play. They are also now based on popular franchises from film and TV, and these slots appeal to the existing fan base of these films and programs. 

Variety Is The Spice Of Life 

Whilst technological advances have helped the rise of slots to the top of the gambling food chain, the fact that there is a huge choice of games to play and the fact that they are available 24/7 also helps. Another factor that is fuelling the success of online slots is that they appeal 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. 

Changes Ahead 

Slots have become victims of their own success and like most forms of gambling, online slots can be hugely addictive and this comes with consequences. Many individuals have developed gambling addiction whilst playing online slots. The government has stepped in with certain law changes that could end the continued growth of the online slot industry permanently. Hot on the heels of betting limits of £2 being applied to fixed odds betting terminals, comes a ban with betting by credit card. It is now thought that betting limits will be applied to online slots too and all these changes will squeeze the growth of virtual slots considerably. It is thought that casinos will be reluctant to open in the UK and that high rollers will go elsewhere for their kicks, or return to the less regulated table games at Land-based venues.