They say you can’t please all of the people all of the time, and this is something that rings true with most businesses. But when looking to set up and run a successful casino business, that’s exactly what you need to set your sights on.
Theoretically, the best online casino in the UK should be able to offer games, entertainment, and an all-around enjoyable experience that caters to all tastes. But given how players’ expectations and preferences differ wildly from one demographic to the next, pulling it off is easier said than done.
Take Millennials, for example – the demographic that refers to people born between the early 1980s and 1997. Research conducted by the Lloyd D. Levenson Institute of Gaming found that people within this age group have a significantly lower interest in gambling than their older counterparts. While 42% of those in higher age brackets consider gambling an important activity, the same can be said for just 21% of Millennials.
Worse still, those belonging to Generation Z – i.e. individuals born in 1998 or later – seem to have an even lower opinion of the importance of gambling. There are still millions of youngsters taking part in online gambling activities, but their attitude to the whole thing differs from that of their more mature counterparts.
Why Are Millennials Less Interested In Gambling?
The exact reason why Millennials are less interested in gambling than some other age groups remains a mystery. Research has brought to light a long list of individual opinions and motivations, but hasn’t highlighted any single defining factor to explain the whole thing.
Even so, there are certain aspects of the general behaviour of Millennials that can help paint a clearer picture of their wants, their needs, and their expectations. Each of these could technically be brought into the framework for a more successful online gambling service, aimed at this specific age group.
The Need for Instant Gratification
Thanks in no small part to social media and new-generation streaming services, Millennials expect and demand instant gratification. They want to know that whatever it is they spend their time and money on, they will get something of value in return in an instant.
Traditionally, this is not something that can be guaranteed with most gambling activities. The simple fact of the matter is that you cannot (and will not) always win, and must therefore be ready to walk away disappointed. There are no guarantees you will get anything tangible in return for your investment – instant gratification cannot be assured with online gambling.
Online casinos, therefore, need to focus more of their efforts on the overall entertainment and enjoyment of the experience, as opposed to the potential to pocket prizes. By delivering more immersive and engaging experiences in general, casinos have a much better chance of hooking those for whom instant gratification is everything.
The Need to Move with the Times
Even today, the overwhelming majority of casinos (online and in the real world) prioritise slots over all other types of games. To such an extent that the Centre for Gaming Research at the University of Nevada reports that around 80% of all casino gaming revenues come from slots.
All well and good, but when you take a look at the demographics that are actually playing slots, the absence of younger players becomes quite notable. Research from Game Changing Technologies found that around 70% of slot revenues come from players aged 55 and over. The largest share of slot revenues of all comes from those aged between 60 and 70.
Meanwhile, the smallest share of revenues from slots comes from players between 20 and 30. Fairly conclusive evidence that younger crowds simply aren’t interested in traditional slots on the same level as their more seasoned counterparts.
The Adoption of New Technologies
Figures like these drive home the importance of moving with the times, and adopting the kinds of new technologies younger demographics are likely to show an interest in. For example, the global virtual reality market is set to skyrocket in value over the next 12 months, reaching around $35 billion by the end of next year.
Slowly but surely, online casino operators are looking to bring the full VR experience into their offerings. One of the biggest opportunities in the field of online casino VR is that of combining the benefits of live-dealer gaming with 360-degree VR. This would essentially place the player at the heart of the most immersive ‘virtual’ casino experience imaginable, second only to actually being there in the flesh.
In addition, experts are advising (if not pleading with) casinos to focus much more heavily on their online user experience. The overwhelming majority of Millennials (and younger demographics in general) rarely gamble online using desktop or laptop PCs. By contrast, they’re surgically attached to their mobile devices on a 24/7 basis, and expect to be able to get what they want at the touch of a button (the whole instant gratification thing).
Unless you can give them exactly what they want and need in an instant and in any location at any time, it’s game over. Mobile casino gaming is really the only type of casino gaming Millennials are willing to indulge in, and should therefore be every online casino’s top priority.
Safety, Security, and Responsibility
Last up, a collective responsible mindset has been a notable attribute of younger generations for some time now. These are the types of people who hold safety, security, responsibility, and sustainability in particularly high regard. They prefer to do business with brands that don’t just exist, but play an active role in making the world a better place.
Or at least, give the impression that they do.
Businesses that give something back to the community, support environmental concerns, or at least take the safety of their customers seriously are always shown preference. Something all online casinos should take heed of – particularly those that clearly exist only to line their own pockets.
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