Sometimes it can be easy to forget just how firmly the slots game has embedded itself into the culture. But these ingenious games have been popular ever since the late 19th century when an electrical engineer called Charles August Fey created a machine called the Liberty Bell. Back then the jackpot for landing three bells was just 50 cents. It’s a measure of how far slots games have come since then that now you can win truly life-changing amounts of money. These are the online games in which numerous ones can be linked together with players competing to win what’s known as a progressive jackpot, often a seven figure sum if the jackpot goes unclaimed for long enough.
Another feature of slots games, even ones with a progressive jackpot, is that the winnings for the set combinations of symbols are a multiple of the stake money. This differs from land-based machines where each spin costs a fixed amount of stake, and the winnings are fixed too. This gearing of the online slots game has led to a situation in which some people are playing with the highest possible stake for each spin, hoping to maximize their potential winnings. So, it’s not unheard of for people to be placing $25 or more on a single spin, an amount which inevitably means that a losing streak can prove to be very expensive indeed. Unlike sports betting, where there are various strategies or types of bet, the player is very limited on their options so it can be hard to prevent losses if things aren’t going well.
Stopping the big slots stakes, UK-style
In the UK concerns are so great about this situation that a new regulation has recently been introduced that the maximum that can be wagered on any spin of an online slots game is £5 (CAN$9). This applies to players over the age of 25. For those aged 18 to 25 the limit is £2 (CAN$3.60). This is intended to bring the stake amount into line with bricks and mortar casinos and other places where the physical slots machines are found. The reason for the change is that slot machines are seen to be one of the key games that can lead to problem gambling, especially for people at the younger end of this age range.
It’s interesting to note that while the UK boasts one of the most liberal approaches to gambling in the world, the activity is one of the most highly regulated too. The organization charged with overseeing the sector is called the Gambling Commission and, while some believe they don’t go quite far enough, it does have considerable powers to impose sanctions on any betting operators that break the law.
Could it work in Canada?
The first thing to note is that many Canadian online casinos themselves are already taking responsibility for self-policing. Even in these early days of the sector you can find that the $5 deposit casino exists. This allows players to come in at a modest level where they can choose to remain playing for CAN$5 which, at £2.78, is already considerably less than the UK limit for the over 25s and only marginally higher than the limit for younger players. Another aspect to consider is just how different the Canadian online casino sector is to the one in the UK. While the latter is well-established, in Canada it can be considered to be still very much in its infancy. So, it would seem to be too early to assess just how Canadian players of games are using online casinos. It may well be that their natural caution means that the stakes they play for on slots games are relatively modest anyway.
The advice is “go slow”
There is also some resistance already within the country when it comes to imposing new restrictions on an industry that’s still finding its feet. The Canadian Gaming Association released a report claiming that changes were being made to the rules surrounding advertising for gambling operators before conclusive research has been carried out into its effects. In this context, it would support the argument that now is not the time to start changing the rules.
To return to the UK’s example this isn’t the first time that the Commission and the UK Government has imposed a limit on the amount that can be wagered on electronic gambling games. In 2019 the maximum that could be wagered on machines known as Fixed Odds Betting Terminals was slashed from £100 (CAN$180) to £2 (CAN$3.60). This was strongly opposed by the owners of the betting shops where most were sited who claimed it would cost the industry millions of pounds, but the legislation went ahead regardless.
However, one final thought concerns the issues surrounding imposing legislation on the online gaming industry. It’s yet to be seen if the new rules in the UK can be effectively imposed or will casino operators seek to find a way round them? Only time will tell and gaming authorities all over Canada may well be watching closely to discover the answer for future reference, at least.