To be honest, online slot machines or online version of any other games like Roulette, blackjack and craps are similar and almost identical to the land-based or traditional games. One of the major reasons is that even the land-based slot machines have computer chips within them. These computer chips are responsible for generating the outcome of the spin both in the online and traditional game.
This is perhaps the reason why even the most regular traditional casino players feel that online slot machines give the same feeling and excitement which the traditional ones give. With online slots, the player plays with virtual money instead of real money. However, if the player plays for real money online, then that virtual money is equivalent to real money used in traditional slot machines. The other difference and probably the most convenient difference is that online slot machines can be played anytime and anywhere, whereas a player would have to go to traditional casinos to play land-based slots.