Different generations respond to the advancements in modern technology in a variety of ways. Millennials are known to adapt with modernization effortlessly while the Generation Z holds some resistance. The differences between each generation is also notable even with their effect on the gambling industry.
How the gambling industry is adapting to new generations
With the Millennials and Generation Z consumers slowly replacing the Baby Boomers as the primary market consumers, several industries, including the gaming sector, are transforming to cater to their preferences. Thus, the gambling industry embarked on a digital footprint to be at par with the Millennials, the generation who are technologically adept. Thereby, several gambling operators now set up online platforms, which provide their patrons an overall gaming experience at the comfort of their own homes.
The Generation Z will soon be the newest members of the consumer group. They are slowly reaching the age wherein they will also have a significant impact in the gambling industry. Therefore, different industries are making the necessary measures in an effort to attract this new consumer group. For the gambling industry, this may entail the need to develop more innovative games and marketing strategies dedicated to this generation.
A look at the millennials and generation z in the gambling industry
- Where they play
Millennials, or people born between the 80s and mid-90s, along with the Generation Z, or Gen Z, prefer to play remotely in contrast to the Baby Boomer generation who frequented land casinos. The internet opened the doors for online casinos and technological progress in terms of handheld devices and gadgets permit them to do so. The younger generation is better adept and comfortable with technology because they came to know of its convenience at an early stage.
Hence, most casinos and the gambling industry in general, put up the effort to not only develop an online gaming platform, but offer a unique gaming experience as well. Some of the best online casino Malaysia and other countries in Asia certify are those that feature their sites in their native language, apart from offering an English version. This makes it easier for players to comprehend the rules of the games and how bets and wagers are placed, making the user experience more fluid and seamless.
Apart from mobile offerings and optimized websites, online casinos also offer a wide variety of deals and promotions such as free spins or sign up bonuses. All these are intended to attract the new generation of gamers who are more likely to play online.
- What they play
Millennials and Gen Z also had a huge impact in terms of what casinos games are offered nowadays. As such, the games offered in online platforms are continuously developed to feature outstanding graphics, visually engaging themes, as well as superb audio in order to offer the complete gaming experience. This is because these generations are known to have grown up with video games such as Nintendo, Wii, or XBox. Additionally, these technologically adept generation loves challenging games. Thus, game developers made it a point to introduce games that require some skills, instead of merely relying on luck. While the traditional table games are considered classic and timeless, casino slots have evolved in a major way.
- Who they play with
While the need to travel physically to a land-based casino is no longer necessary to play some table games, online casino players still prefer enjoying a game with other online players as opposed to playing against a computer. The social experience of a game is significant, particularly for the Generation Z, who are raised in a world where video chats and virtual friendships are already a way of life. Thereby, the online casinos of today must also cater to social integrations, allowing players to chat with other online players. In addition to this, online platforms made advertisements through social media to reach more players from these generations.
- How they pay
If in the past, land-based casinos only considered cash or check payments, online casinos are already forced to integrate more innovative payment methods with the help of technological progress. This is still in an effort to attract the new market composed of a younger generation. Typically, Millennials and Generation Z are wary of online banking transactions and they are shunned of the inconveniences of traditional banking processes. Thus, they consider alternative payment methods such as e-wallets and cryptocurrencies. To be at par with this need, online gaming platforms integrate with different third party services to be able to offer a wide variety of payment solutions.
- What is means for the gambling industry in general
Apart from all those mentioned above, the gambling industry in general needs to adapt to several technological advancements to be able to cater to the new generation of clients. The changes, however, will not only impact these younger generations, but it will prove to be beneficial to the other patrons belonging to earlier generations. This will make online and mobile casinos more popular with several users, regardless of their generations.
These modern changes revolutionized the gambling industry as a whole. There are now several online gambling platforms that offer innovative games with intricate graphics. In line with this, the classic games are transformed to be more visually engaging and challenging. The secure and wide range of payment options also proves to be beneficial for all players, regardless of their generations.
Millennials in focus
Millennials are also known as the Generation Y and they occupy a quarter of the earth’s population. Thus, they have a considerable spending power that proves to be of great influence, even in the gambling industry. However, in general, millennials have other preferences over gambling. This lack of interest makes certain people in the industry worrisome.
While millennials are still attracted to gambling hubs such as Vegas and Macau, they usually travel to experience a different set of entertainment, which is far from the tables. Often times, they travel to land-based casinos for a social experience, rather than for gaming. Thus, they may still enjoy a game or two with their family or friends, but there is a great chance that they will not stay for long or play with a huge sum.
In order to continuously attract Millennials, the marketing key of the gambling industry is to leverage on the advancements of modern technology. Millennials grew up with technology and they are the most flexible when it comes to adapting to the changes brought about by modern progress. Online gambling platforms need to ensure that their sites are updated with current technology to keep Millennials and other players interested. There are studies that suggest that games with a nostalgic video game feel will attract more Millennials into online gambling. Advertising through social media platforms also proves to be an effective strategy in attracting millennial players.
Generation z in focus
Generation Z, or Gen Z, is composed of people who were born in a world where the internet and the online world has already been existent. They generally do not know about the world before the digital era. Like with the millennials, they also make up a quarter of the earth’s population, with the older ones from this generation already reaching the age that already infiltrates the industry.
However, Generation Z is known to have a different trait compared to millennials. They are more efficient in multi-tasking and they tend to embrace individualism more. Additionally, they are generally smarter with money, making it all the more difficult for the gambling industry to attract this generation. Conversely, there are studies that show that people born in the era of this generation are considerably less focused. These are the traits that the gambling industry needs to consider in terms of attracting the youngest generation that will enter the market.
Generation Z are heavy users of social media platforms. Thereby, to ensure patronage from this generation, a positive online presence in social media platforms is necessary. Positive reviews reflected in various social media channels greatly affect the digital reputation of an online gambling platform. However, in order to garner positive reviews, an online gambling platform must deliver an ultimate gaming experience. This can be achieved by taking advantage of the newest technology to modernize the game graphics or optimize a site’s audio features and sound system.
How to attract the next gaming generation
In general, to attract a new gaming generation and ensure the longevity of the industry, there are measures that must be in place.
- Bridge the generation gap
With the gambling industry being around for a long time, traditional means are rather difficult to do away with. Thus, there became a huge generation gap between punters and younger gamers. Even with the younger generation spending more time online, this doesn’t necessarily translate to venturing out into online casino games or sports betting. However, with more innovative games and modern features, the younger generation may probe into online gambling. In order to bridge the generation gap, gaming operators need to look outside of the industry and investigate on how the younger generation respond to how other products and services are marketed. These tactics may or may not be applicable to the gambling industry, but it may be an avenue to further learn about their target market.
- Offer visually engaging interfaces
More often than not, the small details make or break the visuals of a game. An informative app that displays information in an eye pleasing layout will keep users interested and engaged. For instance, the whole onboarding process can be implemented in a unique manner that utilizes graphics and animations. Other creative features such as page transitions, phone gestures, or push notifications, should all enhance the application. All these are proven strategies that get the attention of a younger audience.
- Gamify the entire user experience
While online casino games are continuously innovating, it is important to note that gamifying the entire user experience from the signing up process until the payout will definitely go a long way in terms of attracting the younger generation. Gamification was the key to the success of other industries such as retail, education, and even corporate applications. Several more advanced technologies, such as machine learning and artificial intelligence can be incorporated to gamify the entire user experience in an effort to attract younger players to try out online gambling sites, as well as mobile apps dedicated to online gaming.
Is there a way for these younger generations to succeed in the gambling industry?
The only way to be reaping the rewards that the gambling industry has to offer is to gamble responsible. This goes true regardless of generations. While it is true that larger bets pave the way for larger earnings, staying grounded while placing wagers will increase the chances of a long-term success, while guaranteeing financial protection. It is best to keep a record of the money you use for betting, as long as the winnings you incurred upon playing. The younger generation usually don’t have any problems with record keeping because they tend to document most of their activities, whether in the form of files or images.
The traits of the younger generation in terms of their preference for games that make use of their skills can also come into play to ensure success. With a proper knowledge and analysis of the games, players can implement more strategic tactics. These can be a basis for them to increase their bets or the money they allot for the games. While success cannot be predefined especially in gambling where luck takes a huge part, responsible gambling can definitely be a pleasurable form of entertainment.
Each generation responds to technological changes in different ways. In the same manner, their impact on different industries, including the gambling sector, also varies. Nevertheless, it can be deemed that generations do not necessarily define how an individual will adapt to change or how a person will impact a certain industry.