3 things entrepreneurs should take from the slot industry
Though gambling is, in some world areas, even considered an unethical activity which is all about taking players’ money while leaving it all to the house, the truth is evidentially different.
If this was all that is behind the slot industry, it wouldn’t continue to be successful even after all the decades of being present both in land-based resorts and online casinos. Therefore, businessmen coming from other job areas could learn a few things from the slot industry since the advice already turned out to be profitable for gaming vendors.
Adapting to the cutting-edge technological progress
It is not easy to keep up to date with all the technological changes, especially since they come in a fast-paced environment. One such example is the internet; it took over the world promptly, and those who didn’t follow stayed behind. It is evident that the gambling industry knew how to react in this situation. In the late 80’s, slot machines already became much more than just mechanical and manual products. They got computerised and came to the web as online video slots in 1996, which was a time when most people didn’t even know what internet was. Hence, it is imperative to look ahead and, in a way, predict what will be the next “boom” in this world.
Nowadays, this multi-billion industry highly profits from online gambling. No many thought that people would prefer to gamble from their homes and play real money casino slots at Prime Slots or other virtual casinos. Moreover, as soon as mobile gaming became popular, the industry didn’t stay behind either. You can play your favourite slot machine on the way to work or at a park; the options are endless.
Expanding target audience to younger generation
The future relies on young people; after all, they are the most devoted internet users in modern times. Hence, the industry kept those old-school slot machines, poker, and blackjack games for nostalgic players, but it had much more to bring to the market.
All movies, sports, video games, music, art, and entertainment fans can find something for them that involves gambling, especially among slot machines. These games come in a vast variety of categories, themes, designs, stakes, and more. You will come across hundreds of different slot games and sites and you’ll need to search for the best new online slot sites on Slot Spinners or other review sites. There also tons of features such as bonuses, symbols, and jackpot rounds including both progressive and regular ones.
More importantly, bets are adapted to each player’s pocket – going from only one penny to thousands of dollars. Reels and paylines are often a variable feature, coming in dozens of ways and numbers. To sum it up, there is a sea of ways in which the slot industry knew how to adjust its products to a broad audience, but primarily aiming younger generations.
Reacting to trends – Introducing skill-based and VR slots
A crucial aspect of every business is keeping up with trends that the world brings. Whether you like it or not, if something is currently popular, you have to go with the flow. If nothing, you are sure to profit from a trend that’s fun and modern. This is the same way gambling manufacturers thought when witnessing the popularity of regular video games such as arcades, adventures, and shooters. They had to think of a way that will make gambling close to fans of such products. Therefore, they moved boundaries of gambling by making it much more than an action of luck. In fact, GameCo created an entirely skill-based product from which players can profit if they manage to fulfil certain game achievements. This has the potential to hugely affect the gaming industry since it blurs the boundaries between gambling for money and playing video games.
Virtual reality is about to influence and contribute to this whole experience since it started to affect all aspects of entertainment. Therefore, not only will gambling become more than luck-based, but playing such games will become a vivid, almost real-looking action. This is additional evidence that this market and its vendors know how to move forward and adapt to new generations, which should be something every entrepreneur aims for.
