As with other forms of entertainment, the betting and gaming industry must acknowledge the impact of demographic changes on its operations and capabilities.
Speaking to Nick Johnson of Applico in an industry webinar entitled ‘The 21st Century Casino’, two specialists in the US casino and igaming space discussed the importance of the demographic shift for the industry.
Chris Bevilacqua, Co-Founder and CEO of Simplebet, believed that the primary demographic shift between the older and younger generations in relation to betting concerned how entertainment is consumed.
He pointed out that whilst older generations would purchase a cable TV package, the younger generation are more accustomed to a combination of streaming services such as Amazon and Netflix, as well as video games.
“It’s a much more interactive immersive entertainment driven experience that doesn’t require the younger generation to sit there and watch a three hour broadcast,” he detailed.
“They can go in and out and it’s really a way of gamifying the game. That’s really what we spent a lot of time doing, and broadly speaking, you’re going to see a lot of product innovation. I think we’re at the top of the first inning here of product innovation into this new mobile, direct to consumer world.
“I think we’re going to see quite a bit of taking live sports and turning it into a casino-like or slot machine-like experience, where 12 minutes into an inning of a baseball game and make 20 or 30 bets on pitches and bats and then go out and come back. I think that’s where we are looking into the future and why I think this is an exciting time.”
Meanwhile, Mark Thomas, Co-Founder and CEO of Zen Sports, focused on the increasing trend among younger bettors to favour mobile betting and online wagering as an alternative to traditional land-based verticals.
“Some legacy states that have had sports betting for a long time, they still require you to go and sign up in person or they require you to be on premise in the casino to actually be able to place a bet,” he began.
“That’s just not how millennials want to do things, let alone Gen Z and Gen Y. They expect to do everything from their phone from signup to funding to placing a wager to cashing out.”
However, he also agreed with Bevilacqua’s arguments regarding the immersive experience, adding: “The new generation doesn’t want to sit there and play table games that take five to 10 minutes in between hands.
“They want things closer to esports betting and building lounges, where they can both watch and participate in the gaming experience – an immersive gaming experience and one that’s a lot more cutting edge from a technology perspective.”
Source – Applico YouTube Channel
