Welp MagazineThe online gaming industry is experiencing significant change, driven by numerous factors but accelerated over the past 18 months or so.
Traditional casino providers have been struggling for a few years now. A Forbes report from 2018 outlined how revenues were falling and stocks being hit long before the pandemic last year. However, thanks to 2020’s restrictions on movement and trade, the industry has further been hit. Many businesses suffered due to being closed, but those that suffer most are the ones who have been fighting their online counterparts for a few years already.
As doors closed in Las Vegas, and at casinos across the country, online providers experienced something of a boom. Many states have worked towards legalizing online gaming and sportsbooks, with others to follow suit, giving the industry a lift. Online gambling in New Jersey has become extremely popular since the state legalized online gambling in 2013 With physical competitors out of action, online providers were able to capitalize, with the online gambling market in the US projected to register a compound annual growth rate of 15.41% between 2020 and 2025. Part of that rise comes in the online slots sector, a hugely popular aspect of online gaming which succeeds due to several significant factors.
Why are online slots becoming more popular and commonplace, potentially making their physical counterparts obsolete? These are the main driving factors.
Variety
One of the most significant selling points of online slots over physical slots is the range of games available for players. In a physical casino, there is a finite amount of floor space to be taken up by machines, so careful choices must be made as to which games to feature. That does not apply to online providers, who leverage big brands and popular themes across hundreds of games to increase their appeal. The range of slots on Gala Bingo serves to highlight the variety a provider can offer, with titles such as Gordon Ramsey Hell’s Kitchen Slot using a known name and brand, whilst Dynamite Drop delivers a more authentic slot experience. With so many games across a spectrum of interests and themes, online providers have a big advantage over their physical counterparts.
Flexibility
Changing machines within a physical casino is not easy, even with today’s digital slots it can be laborious. However, an online slot provider can quickly adapt to a trend and introduce a new slot, removing it just as quickly. This is evident at Christmas and Halloween when themed online slots deliver a relevant and contemporary gaming experience to the player, and they can be quickly taken down once the day is over. Remember, this flexibility does not come with a cost of decreased prize funds either, making online slots lucrative as well as adaptable.
Accessibility
The obvious advantage for players is accessibility, as it is for any service provided online over a physical location. Casinos must open their doors; gamers must travel to them and take money or a means to pay with them. A casino may provide a good evening out and isn’t completely obsolete, but for a casual slot fan, is it worth the hassle, when you can play various games on your sofa at home, or on the bus on your way to work? An online provider can be accessed by simply unlocking your phone, which captures a new demographic of casual online gaming fan, as well as those already invested in the pastime.
Conclusion
There is still a place for physical slot machines, but the rise of the online slot shows no signs of slowing. With more providers entering the market and legislation around the industry relaxing, it threatens to be a key growth area in the US over the next five to ten years.
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