These days the online slot industry is unarguably the biggest part of the global gambling market, accounting for a huge percentage of the overall revenue that comes in from gambling across the world. You only have to consider the crazy number of new developers that have popped up over the last decade or so to appreciate this, let alone the staggering number of gamblers playing free slots nowadays litter the online casino domain these days.
And here’s the thing: amazingly it seems as though the online slots industry is set to continue growing indefinitely, as the amount of revenue that comes in continues to undergo exponential expansion.
Now, whilst this is great for most people, it can also put strains on various geopolitical relationships, namely between the two global superpowers of China and the USA. Could China and US relations affect the future of the online slots industry? Read on to find out.
China and its problematic relationship with gambling
It is ironic really, because although modern China has an uneasy relationship with the art of gambling, many historians think that simple versions of games like blackjack were invented in the country several thousand years ago. Regardless, this country of over one billion people has a problematic relationship with gambling, and it is technically illegal in pretty much the entire country, apart from the semi-autonomous region of Macau.
The Chinese administration look at gambling as something that can only serve to fuel civil unrest and a less passionate appreciation of the state itself, hence why they have acted to stamp it out wherever possible. This is why gambling is illegal online and in reality, however, nowadays Beijing is struggling to contain the online casino trend, with more and more people finding their way around the government internet firewalls.
An overview of US and China international relations
China has enjoyed a meteoric rise over the last few decades, with its economy on track to become the biggest in the world quite soon, surpassing the US. It does seem as though the world is about to enter new dawn in regard to geopolitical relations, with China firmly intent on becoming the new biggest superpower in the world.
Over the last few years, mainly because of things such as Trump’s election as president of the US, international relations between the two states have become frayed, to say the least. This is particularly evident in the field of economics, as both countries have traded sanctions over the last few years.
Will this spell trouble for the online slots industry?
The first thing to say here is that the online slots industry is in an incredibly healthy position these days, especially seeing as neither the US nor China are primary markets due to their complex gambling laws. However, the deterioration of US and Chinese international relations could well stem the industry’s rampant growth, as both these markets are high on the list of many online slot developers and online casinos.