Different generations have various looks on society and social habits, as well as consumer behaviour and ways of using goods and services. Behavioural patterns of new generations affect the gambling industry as well.
The generation of traditional old-school gamblers is being replaced by the generation raised in the digital world. Today, young people born between the early 1980s and 1997 and aged around 35-21 are called Millennials. It is believed that their gambling behaviour may lead to the casino industry decline, so let’s look at the way millennials treat gambling and how the industry should further develop to attract a young audience.
The young generation is believed to be less interested in casinos as the previous one. According to the study by Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, only 21% of Millennials considers gambling an important activity, compared to 42% of the older generation.
Apart from that, casinos start to worry about the so-called Generation Z, those who were born starting from 1998. These young people are slowly entering the legal age group, so gambling platforms should learn how to adapt to the behaviour of new players.
Why are Millennials less interested in gambling?
Industry experts notice that young people’s interest in the gambling industry is decreasing. In order to engage the generation of Millennials, it is important to understand their psychology.
Studies show that Millennials like spending their money on drinks, nightclubs and similar kinds of entertainment rather than on gambling. It happens due to the desire to experience pleasure and happiness instantly without any delays. Such behaviour refers to instant gratification.
The young generation is living at a fast pace and is used to get satisfaction quickly. However, in gambling, it is not always possible to win from the first try. Gamblers should spend some time in casinos to reach wins and finally get satisfaction. Millennials, in their turn, choose the faster and easier ways to get pleasure, such as shopping. They can spend money on the promoted top product, such as the newly released iPhone, and get the feeling of fulfilment instantly rather than waiting for the win in a casino.
New game types
Typical and old-school casino offerings such as slots and blackjack rarely attract Millennials today, as this young generation has become interested in other game types.
Millennials favour games with complex gamification systems and innovative designs, as well as skill-based games and video games. Competitive gaming, such as Esports, is increasing in popularity with 395 million viewers in 2018 and an estimated audience of 454 million this year.
How to attract Millennials to online casinos?
- Upgraded design
To attract the young generation to the gambling platform, it is important to consider the casino design. The platforms should be more inclusive, intuitive and easy to navigate, as well as alive and relatable.
Technological advances will benefit the platform, as Millennials are those who have been exposed to digital technologies for the longest part of their lives.
Apart from that, game developers should reconsider the design and graphics for online casino games, as well as introduce engaging and innovative storylines. To appeal to Millennials, storylines and characters may be similar to those in the games for Xbox and PlayStation, which are familiar to the young generation from childhood.
- New games
Conventional casino slot machines are not so attractive to Millennials as to their parents. The solution may be to introduce innovative options for players, such as betting on Esports and fantasy sports, or skill-based games.
Esports. Electronic sports refer to video games competitions between professional individuals or teams. The most popular disciplines include Dota 2, League of Legends, StarCraft 2 and CS:GO.
Fantasy sports. It is the analogue to the real sport, as online game participants unite into virtual teams consisting of real professional players.
Skill-based games. In this case, the game outcome depends on players’ physical or mental skills, including fast reaction or logic.
- Improved mobile versions
The young generation spends a lot of time on their smartphones and lives in a fast world. Therefore, it is important to provide access to the gambling platform at any time and any place by developing the high-quality mobile version of the online casino. Moreover, smartphone versions of the online casino should be convenient to use, as Millennials are always willing to find something most suitable from the variety of choices.
Online social media influencers play a very important role in the consumer behaviour and decisions of Millennials. A large number of young people is present on social media networks and follow celebrities and bloggers who make videos, photos or written posts.
Today, influencers have big audiences of their subscribers, and their opinions really matter, so the influencer marketing takes over the traditional promotion.
Influencers engage the audience, establish trust and friendly relationships which help them to promote various goods, services and companies. This way, if such social media stars promote online casinos, their audience is likely to check out these platforms and get involved.
Due to their new unconventional requirements and preferences, Millennials may help the gambling industry to introduce innovative solutions, present high-quality upgrades and develop further.