The iGaming sector is growing at a rapid rate, with 2020 proving a banner year for the industry.
With bricks and mortar casinos across the United States and worldwide affected by the global pandemic, it has provided an opportunity for the iGaming sector to step in.
While the American Gaming Association’s COVID-19 tracker says 843 bricks and mortar casinos in the US are open compared to 147 that are closed, the industry is going through substantial changes that could result in more people opting to play online.
Though 2020’s unique circumstances have boosted the world of iGaming, the sector was already expanding rapidly. Here is the story of how that happened.
From humble beginnings to a gigantic industry
Considering the first online casino sites only launched at the end of the 1990s, it is amazing to look back and examine just how far the industry has come over the last couple of decades.
Indeed, over the past 10 years, the number of slot game developers has mushroomed and there are now well over 150 different companies operating in this area, with new businesses being set up in the sector all the time too.
Few industries have thrived due to the coronavirus crisis but the iGaming world is among them. With people not able to visit bricks and mortar casinos, anyone who wants to have a gamble on their favourite games like roulette and blackjack has had little choice but to bet online instead.
A ResearchAndMarkets.com report released back in May claimed that the global online gambling market would grow by more than 13 per cent between 2019 and 2020. This would mean a rise from $58.9 billion to $66.7 billion, but COVID-19 could see that figure rise again.
Technology makes developing slots easier
Among the reasons why there has been such an explosion in the number of slot game creators out there is that it has become easier to make such titles.
The best studios now have a framework that most of their slots are built around, which cuts the time development takes from up to a year down to a matter of a few months.
Even newcomers to the world of iGaming will find making a slot game to be a lot more straightforward than it was in the past due to the improvements in technology that are now available across the industry. The fact many people want to play at online casinos while on the move means that slot games are now increasingly designed for mobile play, first and foremost.
How slot game creators make their money
Slot game creators have a few different ways of bringing in cash these days. This is one of the reasons why so many slot game studios have been springing up in the last few years.
As well as potentially selling their games, slot studios can benefit from affiliate deals as well. The affiliate side of the online casino industry is absolutely huge and can result in large revenues.
Ongoing revenues through affiliates mean that slot game creators can keep churning out new ideas, adding to the games that are in their library. And as soon as they come up with a game that proves a hit at online casinos, they can work up further ideas in the form of sequels.
An example of this is Rich Wilde and the Book of Dead, a highly popular slot game that was made by the developers at Play ‘n Go. Since the slot reached such a big audience, the company opted to work on further titles in the series and recently released Cat Wilde and the Doom of Dead in order to take the story on to the next level.
This is the dream scenario for slot game creators, having a cash cow they can continue to milk and build big profits off the back of, though coming up with such a big hit game is far from easy.
What’s next for slot game creators?
One of the most exciting things about the world of slot games is new developments are always in the works as technology continues to develop.
While 3D slots were thought to be the next big thing not too long ago, the sector is already moving on to something fresh.
Now, many in the industry think it is virtual reality slot games that will be next to take off at online casinos, though this depends on VR technology being adopted more widespread than now.
Changes to rules and regulations could also be good news for the world of online slots. Across America, many states are considering making online casinos legal right now.
What is for sure is that the number of slot game creators out there will continue to rise.