Gaming
History of Slot Games

Slot machines are easily one of the world’s most recognizable and iconic forms of gambling. Because of this, it is estimated that almost 1.8 million slot machines are active in casinos around the globe.
Like anything else, however, slots were not always this popular. From a humble beginning, they have grown in complexity, ingenuity, and entertainment value over the years. This has been especially true since the advent of online slots – the best of which you can find on visit slotsource.com.
To trace back the origins of these great gambling machines, we’ve outlined the history of the slot. So, read on to see how your favorite gambling medium grew to be what it is today.
The Idea of Slots
While technically it is a slot machine, the first ever slot is not considered actually to be one by most people. This is because the machine, invented in 1891 by Sittman and Pitt in New York, didn’t pay out any cash. Instead, all prizes were paid out in free drinks or cigars. This makes sense because these machines were mainly found in pubs and bars.
The machine was relatively simple and gave the main idea from which modern slot machines evolved. The slot had five drums used to play. These drums rotated on a central pin until a lever was used to activate a stopping mechanism, which stopped the drums one at a time. This lever is what is credited for the nickname one-armed bandit.
Each drum held ten cards from a standard playing deck totaling 50 cards. The only cards missing from this deck were the ten of spades and the jack of hearts. The reason for excluding these cards was to increase the house edge and give players a lower chance of winning.
The First Slot
Building on the idea of Sittman and Pitt, Charles Fey began working on his version of a slot machine. Because it offered automatic payouts and, in later versions, even featured coin checkers to detect fake coins, Charles is credited with being the father of slot machines and first released his invention in 1895.
After using bells as a symbol in the game, his machine (called the Liberty Bell) only featured three reels rather than the five of Sittman and Pitt. It also didn’t feature any cards. Instead, it used hearts, diamonds, spades, horseshoes, and the iconic liberty bell.
The reduced reels and symbols made it easier for the machine to detect a win and pay out accordingly. However, while the machine was hugely popular, Fey forgot to patent his design. Because of this, other producers quickly began cloning the machine and flooding the market.
Due to the influx of machines and the popularity of gambling, the government decided to take action. So, in 1902, gambling was officially outlawed. However, slot manufacturers found a unique way around the ban rather than curbing the problem.
Machines were designed to offer payouts of prizes like candy or other treats rather than money. These offered people the same thrill of gambling but ensured they only received something they could snack on rather than cash. During this era, a manufacturer called Herbert Mills produced the first ever machine using fruit symbols, which are still widely used today.
The Electrical Slot Revolution
By 1964, many companies were trying to develop the next big slot machine. This development was accelerated because gambling was seen as more acceptable, and the laws regarding the activity were beginning to soften. No company made as much progress, however, as Bally.
Bally is credited with inventing the first ever electromechanical slot machine. This machine, titled Money Honey, featured fully electric reels that could pay out up to 500 coins — a feat no other slot could boast. Even though the machine was electric, the trusted lever was still present, as it was thought that removing it would throw off people from what they had been used to doing.
The release of Money Honey sparked a new era in slots, and soon many other companies began producing fully electric slot machines. During the evolution of the machines, the popular lever used was abandoned in favor of a simple button.
Slots continued in much the same vein until 1976, when something new blew the industry wide open.
Video Slots
In 1976, after many years of much of the same, a company called Fortune Coin (which would later be bought by IGT) produced the world’s first video slot machine. The game used a TV screen display and a random number generator that strongly resembles today’s slot machines.
After initial testing in Vegas, the machine grew massively in popularity, and video slots became the norm worldwide. Then, in 1996, the industry was again shaken up by the introduction of the first slot that also had a bonus round.
Adding a bonus to games made slots the most popular form of gaming by far. As such, slots began taking over most space in physical casinos. At the same time, online slots started making an appearance in the library of online casinos.
Online Slots and Onward
While the first online casinos, which appeared in the late 90s, usually only offered games like roulette, slots soon began making their way into many different casino game libraries. Their popularity soon caught on like wildfire, and many developers started looking to develop the next great game in earnest.
Soon, online slots took on a life of their own and were no longer developed to emulate the games offered in physical casinos. Instead, because of the freedom to be creative, developers began producing many unique and wonderful games that accelerated the popularity of gambling online.
Since then, online slots have become an almost unbelievably big industry. The online gambling market, worth $61.5 billion in 2021, is said to be comprised of as much as 70% slots. This means that of this massive amount, slot games alone generate almost $43.05 billion.
This growth means that slots have continued to grow and are still actively being developed. Today, work is underway to adapt slots to virtual and augmented reality to try and discover the next great leap in the evolution of this gambling icon.
Gaming
Avalanche and Helika Launch New Gaming Accelerator – Applications Now Open

The Avalanche Foundation and Helika, a leading provider of technical and creative solutions for the video games industry, have officially launched their joint video game accelerator program and opened applications for the first cohort.
The newly announced strategic partnership is designed to engage both Web3-native studios and traditional game developers exploring blockchain integration. The accelerator aims to identify and support the next generation of studios building at the frontier of blockchain-based gaming.
The program is focused on product interaction and is designed to discover, support, and fast-track promising studios and projects building on the Avalanche blockchain. It will provide selected projects with unparalleled access to resources, mentorship from industry leaders, technical support, activations, and funding opportunities for qualifying or top-performing teams.
The accelerator is open to seasoned teams building high-quality, engaging experiences across platforms, from mobile to desktop and everything in between. Projects with prior traction or cross-platform aspirations are especially encouraged to apply.
The program will run for 3 months, with virtual onboarding and IRL showcases planned across major gaming and blockchain events.
What selected teams get:
Funding & Resources: $25,000 in initial support and up to $125,000 in additional funding for qualifying or top-performing teams.
Expert Guidance: Mentorship from game veterans, blockchain experts, and industry leaders through group sessions and 1:1 consultations.
Analytics Support: Comprehensive analytics solutions to track performance, improve retention, and optimize monetization strategies.
Blockchain Integration: Dedicated assistance for integrating with the Avalanche blockchain and optimizing technical performance.
Community & Growth: Activations with partner communities and platforms and support in player acquisition, community building, go-to-market strategies.
Helika Advisory Access: Access to specialized experts from Helika’s network for tailored support.
Ecosystem Access: Direct connection to a vibrant network of developers, investors, publishers, and Web3 enthusiasts.
Showcase Opportunities: A final Demo Day event to present games to investors, publishers, and ecosystem partners.
“We are excited to partner with the Avalanche Foundation to create a world-class accelerator for Web3 gaming. Avalanche’s robust and scalable infrastructure makes it an ideal environment for innovative game development. Studios need tools that work, data that matter, and real support from people who understand what it means to build in this space — this accelerator provides all of that, plus a direct line into a powerful Web3 ecosystem,” said Anton Umnov, Founder and CEO of Helika.
“Avalanche is focused on the long game. There’s no shortage of flashy ideas. What’s missing is the support that helps studios turn those ideas into real, playable, scalable games. Avalanche has long been the go-to chain for speed and innovation, and now we’re channeling that energy into the future of gaming, supporting teams who understand the nuance of player experience, community building, and long-term value creation,” said Parker Heath, Ava Labs Gaming Partnerships Lead.
Avalanche plays host to a vibrant lineup of video games, including Off The Grid and Maple Story Universe, all pushing the boundaries of what’s possible in blockchain-powered play. Thanks to its customizable Avalanche L1s, lightning-fast transaction speeds and low fees, developers can tailor unique environments for their games without compromising on user experience.
Helika has become a cornerstone for modern game studios, equipping developers with real-time insights into player behavior, on-chain economies, and engagement metrics. From Proof of Play and Parallel to Nexon, Ubisoft, and Com2Us, Helika’s platform is shaping how developers build, balance, and scale their games in real-time. This accelerator takes that impact further by embedding support into the earliest stages of development when it matters most.
Gaming
Unlocking games revenue: player behavior and payment trends in the west | Newzoo x Tebex Whitepaper

Tebex, the leading payments solution for gaming, reaching $1Bn in processed payments and powering over 30,000 web stores, is launching the first industry-wide look at payment trends in EU and NA with Newzoo on Tuesday, August 12 at 09:00 AM CEST.
Why This Data Matters
In a maturing Western games market with slowing payer growth (North America: +1.1% CAGR, Europe: +3.1% CAGR, 2023-2027), studios must shift from acquiring new players to maximizing value from existing ones. The data reveals critical insights into player motivations, spending patterns, and payment preferences, enabling developers to craft targeted monetization strategies that boost revenue, enhance retention, and align with player expectations.
Global Market Snapshot (2025)
- Market Size: $188.9B (+3.4% YoY), with North America ($52.7B, 28%) and Europe ($33.1B, 18%) driving 46% of global spend despite housing only 20% of players (3.54B total).
- Payer Spending Power: North America leads with $324.9 avg. annual spend per payer; Europe averages $125.4 ($170.0 Western, $51.6 Eastern).
- Value: High per-payer spend in Western markets highlights the opportunity to deepen monetization through tailored strategies.
Spending Motivations Drive Strategy
- North America: 34% of payers spend to unlock exclusive content, 29% for personalization (character customization), reflecting a desire for self-expression. Studios can capitalize by offering unique cosmetics and content packs to drive engagement.
- Europe: 28% prioritize deals/offers, 21% value ad-free experiences, showing value-driven behavior. Discounted bundles and subscription models can increase conversion in this region.
- Value: Understanding regional motivations allows studios to align offerings with player priorities, enhancing loyalty and spend.
Diversified Spending Patterns
- North America: 27% of payers invest in content packs, power-ups, and in-game currencies, with subscriptions (24%) and battle passes (23%) also strong.
- Europe: In-game currencies and content packs lead (21% each), followed by subscriptions (20%) and gear/time-savers (18% each).
- Value: Diverse spending across virtual goods underscores the need for varied monetization options to capture a broad range of player preferences, boosting average transaction value (ATV).
Payment Methods Unlock Higher Spend
- ATV Trends (2025): Overall, ATV rose from $30 (2024) to $40. BNPL (North America: $85.0, Europe: $72.0) and crypto (North America: $94.8, Europe: $111.6) outperform cards (North America: $52.2, Europe: $42.7).
- Dual-Method Impact: Players using cards + BNPL/crypto maintain transaction frequency while spending more.
- Value: Offering alternative payment methods like BNPL and crypto can significantly increase ATV, especially in Western markets, without sacrificing transaction volume.
Revenue by Platform and Genre
- Microtransactions (MTX): Drive 49% of PC and 52% of console revenue in North America; 42% (PC) and 51% (console) in Europe. Mobile is near 100% in-game revenue.
- Top Genres: North America favors shooters, Europe prioritizes sports, with RPGs and puzzles strong in both.
- Value: High MTX revenue and genre preferences guide studios to focus on live services and region-specific content to maximize engagement.
Strategic Takeaways
- Deepen Monetization: With modest payer growth, studios must focus on existing players by offering personalized content and value-driven deals.
- Diversify Payment Options: Cards and wallet still dominate in volume, but integrating BNPL and crypto can unlock higher ATV, especially in Western markets.
- Align with Player Values: Transparency, fairness, and seamless payment experiences reduce churn and build loyalty in a competitive market.
- Understand the why and how players spend: NA players are more likely to spend for personalization and self-expression, while EU players are more value-conscious, prioritizing deals and an ad-free experience.
Quotes
Liam Wiltshire Head of Payments & Compliance at Tebex
“The future of gaming is about flexibility – meeting players where they are, with the methods they trust.”
This quote summarizes the importance of adapting to player-preferred payment methods like wallets, BNPL, and crypto to enhance accessibility and trust.
“Virtual currencies and microtransactions are no longer just revenue streams – they’re becoming strategic levers for retention and differentiation.”
This emphasizes the evolving role of microtransactions beyond revenue, focusing on engagement and player retention.
“Today’s players want to know what they’re paying for – and why. How you monetize matters more than ever.”
This highlights the need for transparency and fairness in monetization to build player trust and loyalty.
Gaming
Global Gaming League Launches New Era of Competitive Video Gaming with T-Pain vs. NE-YO Showdown and More

The Global Gaming League (GGL) announced its first season of year-around competitions titled SZN Zero. Backed by entertainment visionary Clinton Sparks and Grammy-winning artist and streaming icon T-Pain, the GGL is the first-of-its-kind, multi-title, live-action gaming entertainment league, where professional gamers, influencers, and casual players compete side-by-side in front of live audiences in Las Vegas and available globally on major platforms. Teams compete in popular game titles ranging from Call of Duty and Rocket League to Tetris and Street-Fighter.
Each event will feature two celebrity owned teams made up of four players each – high profile influencers, actors, athletes, artists, and both professional and casual gamers – facing off in four round matches covering four different genres. Superstar hosts and half time shows from major artists will turn up the entertainment factor. SZN Zero events will take place in Las Vegas, building up to a championship match in November live from the iconic Palms resort and casino, and the Global Gaming League will continue with SZN One in 2026.
SZN Zero’s first competition on August 23rd will feature T-Pain’s team Nappy Boy Grizzlies against three-time, Grammy award-winning hitmaker NE-YO and his Gentleman’s Gaming Team – finally facing off after months of social media trash talk and rivalry about who’s better at Tekken. The event will stream live on the GGL’s YouTube channel and other major platforms.
T-Pain, who is GGL’s Director of Strategy, was the league’s first team owner. NE-YO joins previously announced owners Flavor Flav and Bryce Hall along with Gillie Da Kid & Wallo.
“We wanted to build something that brought gamers from different backgrounds and cultures together in a unique way that was equally fun and competitive. With SZN Zero, we will introduce an authentic and relatable form of entertaining competition that will converge music, fashion, celebrity, and culture bringing the biggest form of entertainment in the world – video gaming – to the masses,” said Clinton Sparks, Founder and CEO of the Global Gaming League.
“Gaming is just as important as music or any other sport, to me. NE-YO had some words for me on socials, I heard enough of what he had to say and felt it was time to show him that I actually do this. But honestly I’m just ready to have some fun with my friend, because bottom line, that’s what gaming is all about. Now folks will just have to see what happens on August 23rd when we face off in Las Vegas at the GGL SZN Zero launch,” said T-Pain.
NE-YO responded: “Honestly, I was trying to connect with T-Pain to maybe be part of his team but when he kept blowing me off and then I saw that video of him talking about my lips, I decided the only way to get his attention would be to call him out. Now, we’ll see just how good he really is – or isn’t – when we go head to head.”
World-class Publishers such as Activision Blizzard, Bandai Namco, Capcom, EA, Tetris, and Ubisoft have all agreed to allow GGL to use some of the most popular and challenging games during SZN Zero, attracting a new audience and offering viewers a unique and compelling gaming experience. In addition to YouTube, the Global Gaming League SZN Zero will be available on other major streaming platforms in partnership with Dooya Media Group.
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