Profitable Slots: Market History and Evolution

Over time, the games have evolved and now they are more:

• profitable;
• sophisticated;
• enjoyable.

Emergence of Slot Cabinets

Charles Fey created the first one in San Francisco in 1895. The solution included several winning symbols:

• hearts;
• spades;
• diamonds;
• horseshoes;
• Liberty Bell.

The last one was the icon with the highest winning potential: if 3 appeared, the punter won the jackpot, which at that time was 50 cents. The product had only 3 reels.

The machine quickly became very popular. For this reason, Mr Fey chose to manufacture other cabinets, which very soon became available in public places, including:

• saloons;
• barber shops, etc.

Some US states banned this amusement equipment, but its popularity did not diminish. Far from it: the slots’ fame soared even higher when electronic ones were created in 1976. Very soon, they spread all over the US.

Mechanical and Electronic Slots

At the start, gaming machines were power-driven. The gambler had to pull a lever to rotate the reels.

With the advent of electronic apparatuses, the mechanism changed so players could:

• access advanced solutions;
• get bigger payouts;
• enjoy more exciting amusements.

Thus, electronic slots revolutionised the wagering industry. Punters were able to access numerous new entertainments with thrilling jackpot functions. However, the machines have not changed much. They have always included reels and spinning symbols.

Development of the Slots Industry

The fame of this type of entertainment was so great that an entire sphere was further grown in the 1970s. Already in 1976, there were over 150,000 “one-armed bandits” in Nevada.

The gambling houses earned almost $600 million a year thanks to such games. The slot equipment market continued developing into the largest gambling segment. In the 1980s, gains from such machines were over 85% of all casino’s revenues.

Rise of Digital Slots

The arrival of internet games revolutionised the sector once again. More people became interested in gambling. In 2018, the worldwide market for internet casinos was valued at over $45 billion. Slots accounted for a large part of this profit.

The first web-based game was published in 1996 by Microgaming. Subsequently, more digital slots were developed, offering consumers a wide variety of content, including video entertainment.

Slot Machine’s History: Summary

Analysing the development path of this equipment, it becomes clear that they have always been famous among various categories of punters. The arrival of digital versions has only enhanced the popularity further. The number of players has increased thanks to the accessibility of more customised and entertaining slots.

General notions about the niche:

• Machines have undergone various technological changes, but the thrill of gambling has remained the same.
• The possibility of hitting the jackpot is a constant that drives punters to deposit money to win.
• The allure of slots will not diminish in the years to come. On the contrary, they will be developed even more.