The online slot machine market has been steadily rising since the turn of the century, but 2020 acted as a catalyst for more widespread popularity.
With brick and mortar establishments closed, it has been left to the online gaming industry to fill the void. With people increasingly confined to their homes or operating under strict restrictions, they have turned to their online slot providers for entertainment. Europe’s online gaming market was growing by 10% each year prior to the pandemic, with several factors making it popular prior to the obvious recent shift.
One aspect of the online slots industry which has helped drive it forward is the increased use of tech innovations. Games have become graphically superior, which combined with popular branding delivers an experience the customer finds both familiar and exciting. European Gaming discuss how some providers have their own niches developed around loose themes, such as Dracula and Dragons, whilst others drill deeper into recognisable brands and new technology. Industry leader Foxy Games have several titles which demonstrate this combination, such as Friends Slingo and Deal or No Deal Golden Box. They have themes players recognise, combined with cutting edge graphics and sound that delivers an immersive experience. With VR and AR also beginning to impact games, the technological aspect of online slots is expected to keep evolving to obtain and retain customers.
Another aspect of technology online slots can harness for their own development is cryptocurrency and bitcoin. Like the online slot industry, bitcoin has experienced a boom in recent years, and the price of a single coin could hit $300,000 (€216,000) in 2021. That is up from a previous all-time high of $20,000 (€16,500) in 2018. However, it is not the value that makes it attractive to the online slots industry, but the apparent safety.
There are two ways in which bitcoin is edging its way into the online slots market. The first is through specialist providers who offer only bitcoin games on their sites. Those providers are becoming increasingly popular as they deliver a service tailored to cryptocurrency, and therefore the benefits it brings. For instance, it is anonymous, which reduces the risk of becoming a victim of fraud or theft. As there is no direct connection to a personal bank account, the potential for criminal activity against players is further reduced. Also, some of the specific bitcoin online slot providers offer access to extra bonuses and promotions just for using the currency.
Whilst these sites are popular, they are not mainstream, but that does not mean bitcoin usage through other providers is not on the rise, too. Even some ‘standard’ gaming providers are now offering bitcoin as a method of paying into accounts and withdrawing. The procedure is familiar to bitcoin users already, as The Balance explains you start by obtaining a bitcoin wallet. From there, you purchase the bitcoin in much the same way you would open a PayPal account and add funds.
You will also need to find a gaming provider who offers bitcoin as a deposit option. Not all providers do, but a search of ‘bitcoin’ and ‘online slots’ using a search engine such as Google will reveal the options available to you. Some of the biggest providers on the market do offer a bitcoin option, and making a deposit is straightforward, just as it would be using a bank account or debit card.
The same goes for withdrawal. A provider who offers a bitcoin deposit option will usually do the same for withdrawal, too. Once you have a balance to withdraw, navigate their menus and withdraw safely.
Using bitcoin with online slot providers is becoming easier, and with it customers benefit from the additional levels of security and protection cryptocurrency provides. That will only further accelerate the growth of the online gaming industry and slot machines in the future.
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