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Online slot games have become a massive form of entertainment for gamers and bettors alike. What started as simple backroom fruit slots back in the day has exploded into a multi-billion dollar industry full of dynamic online slots with fun themes and bonuses.

Indeed, their simplicity and win potential is what makes them the game of choice for top casino streamers as they chase the jackpots.

The history of online slot machines

Slot machines may seem like a relatively recent invention, but they date back to the 19th century. Of course, they were then mechanical, featuring three rotating wheels with different fruit symbols that could match up for a prize.

While these early fruit machines were easy to manipulate, digital slots in the 1970s represented a massive evolution of slot machines. Instead of mechanical reels, digital slots featured digital screens. This allowed for more fair play and a wider range of themes that made slot machines a lot more fun. Companies began implementing new and interesting gameplay mechanics to create further variety, including bonus games and animations. Perhaps just as important was the implementation of the random number generator, which promised randomness to avoid bettors feeling ripped off by the establishments hosting the slots.

Yet the biggest innovation was still to come, and that was the introduction of online slot games in the 1990s. This is around the time the first online casino launched, making slot machines much more accessible.

Into the 2000s, the slot industry saw a wider range of graphics and themes being consistently introduced, allowing for added elements like wilds and scatters that were much more difficult to implement in mechanical slots offline. Online slot machines also saw the creation of progressive jackpots and other mechanics that made the gameplay more dynamic and rewarding than ever.

Online casinos earned $830 million in 2021, with the largest markets being in China, the United States of America, the United Kingdom, and Japan. The industry has only grown in value since then, with revenues reaching far greater heights. A projected growth of 11.4% by 2028 would put their combined earnings at a whopping $158 billion.

Online slots are often the most lucrative game category at popular online betting sites, earning 60% to 80% of many online casinos’ gaming revenue.

Types of online slot machines

Bettors will find a wide range of online slot machine options online, from classic slot game experiences to Megaways slots. Here are the most common categories at online casinos:

Classic Slots

These simple three-reel slots are based on the original mechanical slot machines from the 19th century. Very straightforward in design, these classic slots have players spin the reel and try to match symbols for a payout. These symbols usually include fruits, bars, and sevens, just like the original mechanical games they’re based on.

Video Slots

Usually featuring five reels, video slots have a wider range of themes than do classic slots. Video slots have added visual elements, like animations and even cohesive storylines that play out over the course of a game. There are also added game features, including free spins, scatter symbols, bonus rounds, and other innovative mechanics.

Progressive Slots

Progressive slots have massive payouts compared to other slot types. This is due to every bet going into a cumulative jackpot, which can be standalone, local, or networked across multiple casinos. The jackpot will grow as more people make bets but it can sometimes be a bit more complex to win, requiring the unlocking of a bonus game or other, similar elements. But those who want to take greater risks in the name of bigger rewards will likely enjoy progressive slot games.

Megaways Slots

Megaways have been one of the most significant changes to present-day online slots. Megaways increase the number of reels and symbols, which leads to even more way more ways to win for players. The standard number of winning means on a Megaways slot is 117,649, although some have even more.

Multi-Payline Slots

Multi-payline slots have more lines than do traditional slots, usually 10 or 20, though some slot games can push that number up into the hundreds. This increases the player’s chance of landing winning combinations, which can either be straight or a wide range of patterns, depending on the game. The overall bet is usually larger, and so are the potential winnings.

Virtual Reality Slots

As gaming technology advances, so do the ways players can gamble with online slots. Along with mobile and browser-focused slots, there are virtual reality games that require VR headsets. This can fully immerse the player in the slot’s world, creating a dynamic experience with more engagement.

Online slot machine terms to know

Online slot machines have a lot going with them when compared to traditional slots, but they don’t have to be confusing. Here are some useful terms to remember:

Reels – Reels are what the symbols are placed on, spinning independently every time a bet is placed. Most online slots feature between three and five reels.
Paylines – With online slots, players can bet on multiple paylines, meaning there are hundreds of potential ways to win off each individual spin.
Bet max – This is the maximum wager players can make on a single spin.
Bet minimum – Opposing the max bet, this is the minimum wager players can make on a single slot spin.
Bonus features – Online slot games have a lot of bonus features, which refers to the extra happenings that take place on the grid. This includes wilds, scatters, and free spins. These can even lead to bonus games.
Multiplier – This is a common bonus feature that can multiply a player’s winnings if it appears on the slot at the right time. Each slot has its own multipliers, with some going as high as x100 or even greater.
Volatility – With a spectrum ranging from low to high volatility, this determines how risky the slot machine is. Some slots have less volatility but smaller jackpots, while others have high volatility and the chance for even bigger payouts.
Return to Player – Often shortened to RTP, this is the percentage figure showing how much cash the slot will pay back to the player over time. For example, a slot that has an RTP of 96% means players can win back up to $96 of their $100 bet on average. We consider anything above 96% an enhanced RTP slot and these are generally the most popular.

Keeping these terms in mind is more than enough to get any player started in their online slots journey.

Slot game providers

The online slot market is big business. According to Grand View Research, the online casino industry globally was worth $19.1B in 2024, and slots are a major driver behind that. There are hundreds of development studios that regularly release new games, with the biggest, such as Pragmatic Play and NetEent, launching multiple every month.

There are also many niche studios that focus on highly unique games, but the big names are renowned for pushing the limits both in terms of features, but also themes and win potential. NoLimit City, for example, has a reputation for extremely high volatility with slots such as True Grit Redemption 2. Pragmatic Play, meanwhile, has plenty of series that have spawned sequels, with Sweet Rush Bonanza one of the most notable recent examples.

In short, there has never been a better time to be a slots player, with all manner of themes covered at the best crypto casinos.