Included in his reasoning are payout percentages, selection of games, speed of play and convenience.

He told Gambling Insider: "Online casinos offer players a huge selection of games, as opposed to the limited floor space and therefore limited offerings at brick and mortar casinos.

"If you have a particular favourite, you’ll be able to find it somewhere online, whereas land-based casinos need to constantly swap out the old for the new."

Online slots tend to have return to player rates of between 95 and 97%, while those of land-based venues can be as low as 75%.

Timofeyev added: "With increasing regulations and fast-paced technological advancements progressing within the online casino sector, we are in a position to be much more adaptive to change.

"Land-based casinos on the other hand, have remained the same for decades. While it is incredibly unlikely slot machines will become disused altogether, those who play to win will almost certainly choose to do so online."

Timofeyev was speaking to Gambling Insider magazine for the Big Question section of the July/August edition.

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