Online Gambling Firm Revenues Reach All Time High Amid Rise of Online Slots

Several companies that have transitioned to online establishments have experienced exponential growth, but even among them, a few stand out due to their sheer dominance of the market. Online gambling firms are one of them. 

While the growth of online gambling can be attributed to several factors (more on that later), one common denominator among all big companies online is their accessibility. A report from Statista shows that the online gambling market worldwide has crossed US$90 billion in revenue in 2023, with the United States, Japan, Germany, Canada and South Korea being the biggest contributors.

Furthermore, The Guardian reported that UK gambling firms are making more money than ever, this being largely influenced by a massive surge in the use of online slots. The report estimated the revenue of the gaming industry in the UK reached £15.1 billion in the year to March 2023.

Analysts expect the worldwide online gambling market volume to reach $124 billion by 2027, with annual growth rate (CAGR 2023-2027) of 9.02%. The overall market will amount to 233.7 million users by 2027. The user penetration in the Online Gambling market is highest in Canada with a projected rate of 46.8%. The entire market has more than doubled in the span of just four years. If this growth continues, we may see some unexpected results in the future.

Main Drivers Of Online Gambling Market’s Growth

Online Gambling has been popular since its inception but it wasn’t as accessible as it is today. Now, getting cultural and legal approvals for gambling operations is easier for companies especially due government institutions removing restrictions in the favor of economic growth. Celebrity endorsements, and corporate sponsorships have also played a big role in the market’s growth. 

Classic gambling games like poker have also had a huge presence in pop culture, which continues to push the audience towards online casinos. Smartphone usage for playing games has drastically increased in recent years, which coupled with the integration of 5G Internet technology has greatly increased the appeal of online gambling. 

Many online casinos have embraced blockchain technology which allows them to make fast, secure and low cost transactions. Online casinos are collaborating with industry-leading software developers to better optimize their services for desktop and mobile devices. Not only that but the developers have also created very immersive and interactive gambling games. This collaborative effort has given birth to a whole new form of entertainment system. 

Popular Online Gambling Games: Slots with 3D Graphics

As stated earlier, online casinos have several immersive and interactive games available, digital slot machines fall into this category as 5-reeled slots leave a lot of room for creative applications and developers also take inspiration from video games when creating them.

Online slots come in a variety of themes, and they appeal to all types of demographics which may be the primary reason behind their massive surge in usage. Below, we have compiled a list of some that you could try out yourself:

#1 A Night With Cleo

Queen Cleopatra of Egypt is a well-known historical figure and is considered to be a prototype of the romantic femme fatale in one of the best slots with 3D graphics. A Night With Cleo is an Egyptian themed slot centered around the infamous last pharaoh of Egypt. The slot game presents several recognizable symbols from ancient Egypt and features a very interesting mini-game. 

This bonus game invites the player into a private room with Queen Cleopatra after a winning spin. The player is greeted by the Queen herself who will lose a part of her clothing, every time they make a correct gamble. This guess involves choosing one of the two flowers in Cleo’s hand, one is empty, and the other has coins in it. Consecutive correct guesses not only double the player’s wagers each time but they eventually make Queen lose all her clothing.   

Jackpot: Yes

Format: 5×3 Reels

#2 Lawless Ladies

Lawless Ladies is a Wild West themed slot created Woohoo Gaming. The game features classic American West imagery and is very simple to play. It features 20 paylines with very flexible betting options from as low as 2 cent. Lawless Ladies has several bonus features including free spins, wilds and a progressive jackpot that can be triggered randomly.

Progressive Jackpot: Yes

Format: 5×3 Reels

#3 Golden Buffalo

Golden Buffalo is another incredibly popular Wild West themed slot and is rather unique in its own category. It features 6 reel, 4 rows (6×4 format), which allows players to have 4096 ways of winning with every spin. 

The game features three different types of jackpots, Epic Jackpot, Daily Jackpot and the Hourly Jackpot. Epic Jackpot is a progressive jackpot that can be triggered randomly any time. The Daily Jackpot drops daily, once a day. Next, the hourly jackpot drops once every hour of the day. The game’s max payout amount per spin is ($500,000).

Jackpot: Yes

Format: 6 x 4 Reels