Online slot game providers have helped push online gaming towards becoming a global phenomenon of significant size. It is now even possible for people to get rich in online gaming. Online casinos, which offer games such as Blackjack and Roulette, now account for about 53 per cent of the total gambling market in Europe. In North America, the percentage is still quite limited but growing fast with 27 per cent taking place on the internet today. The biggest online casino provider in the world, William Hill, based in the UK but available in multiple languages, has been offering odds on sports events since 1963.
How do they work?
Online slot game providers like memo-x operate a lucrative business offering guaranteed payouts to customers through numerous channels including online casinos and retail outlets. They also provide licensees that rent out machines from them and operate them on a commission basis. Much of the revenue generated by these companies is split between the manufacturer of the slot game and the service provider. These two companies have a symbiotic relationship that has proven highly profitable to all parties involved.
How are they regulated?
Online slot game providers are regulated by gaming commissions in the country where they are based. They also adhere to the rules set by the licensing authority wherever they offer their products. The process by which they operate is similar to that of any other gaming company.
They also maintain an efficient team of security analysts who keep a tab on unusual or suspicious activity on the slots in order to protect players and prevent fraud.
How profitable are they?
As an industry, online gaming has enjoyed annual growth in excess of 15 per cent over the last decade. The most prominent reason for this is the explosion of mobile technology which has enabled the online slot game providers to reach a much larger number of potential customers. These companies also enjoy a strong brand recognition and are able to charge premium fees to their customers because they know that they offer quality services that can be trusted.
How secure are the online services offered by online slot game providers?
Security is an important aspect that must never be ignored while dealing with any financial transaction. Online slot game providers have taken care to ensure that their systems are secure enough to protect the interests of their users and also prevent fraud. The most advanced encryption technologies are used by them to ensure that no one can breach these systems and cause harm to players.