Gen Z and millennials are a major part of the online sports betting industry and even show interest in visiting brick-and-mortar casinos, a new report reveals.
The Younger Demographic Is Interested in Casino Gambling and Wagering
LaneTerralever unveiled results of a new study probing into Gen Z and millennials’ interest in sports betting and casino gambling, a report released by Casino.org reveals. The recent white paper revealed that 36% of the Gen Z demographic have placed bets only online. On the other hand, 48% of millennials participated in online sports betting. But what’s interesting is that both groups showed interest in visiting brick-and-mortar venues.
The new study added that while a combined 70% of Gen Z and millennials are interested in visiting a land-based casino, each group has a different motivation. LaneTerralever’s study revealed that millennials are a “diverse generation that holds some remnants of traditional player values but are now driven to explore new experiences.” Through technology, millennials are interested in sports betting more than other demographics. With that in mind, Gen Z are drawn to sports wagering as well as casino gambling primarily for new experiences. This younger demographic wants to engage with new acquaintances as well as experiences.
64% Enjoy Gambling Better In-Person
During the COVID-related closures back in 2020, a significant increase was observed in online gambling activities. This further boosted the fear of the industry that online activities will prevail and result in losses for the land-based gambling sector. In addition, land-based gambling operators have long feared that they may seem less appealing to the younger demographic.
However, the recent study confirms that the gambling industry’s fears have likely been in vain. According to the report, 64% of the younger demographic enjoyed gambling activities more in-person. What’s more, 59% admitted to taking more seriously the activity when engaging in it at a land-based location.
“What’s resulted is a younger demographic taking part in sports betting and becoming an increasingly important audience for operators to bring into the fold,“
Another point raised in the report is that the younger demographic continues to show interest in sports betting and becomes a big audience for regulated gambling operators. This, according to the study creates fresh opportunities for operators to engage with the audience while the sports betting industry continues to grow further. The study added that sports betting operators need to consider the desires and needs of this new audience.
Source: Read Full Article