Demographics and the implications for operators
In recent years, many industries have centered their content and marketing strategies on younger generations, with millennials commonly the primary target.
However, technology has been embraced more than ever right across the generational spectrum. From baby boomers to Gen X, who still enjoy gambling entertainment, to the dynamic of Gen Z, who have a fresh technology-infused take on everything, businesses need to know what demographic changes are occurring and their implications for iGaming.
Every industry must maintain a good relationship with its customers. With customer loyalty becoming more difficult to obtain due to rising competition, industries and businesses across the globe are striving to shape their products to match evolving trends. Since the advent of online casinos, we have seen how player demographics have shaped the content in casino games, particularly as young people have entered the market looking for all things fast-paced, adventurous, and unpredictable.
Casinos used to market to demographics that played “games of chance”, such as roulette, video poker, blackjack, and craps. Each gaming segment had its own goals, but the demographics represented were usually all men and women between the ages of 30 and 50. The gambling world was much easier for operators to navigate back some years ago.
Following are several interesting insights our Uplatform team has observed regarding demographics and casino gaming content.
Trends in Gaming
The success of Esports in the 2000s, catering primarily to a more youthful audience, made it evident that there was value in investing in this demographic. Instead of conventional casino games that were gratifying, fair, and familiar in their gameplay, millennials were more interested in more entertaining games and integrated with popular trends. In this period, we noticed that a new “game of chance” appeared in which Esports players paid a fee in exchange for a loot box containing randomized virtual item(s), which can be used to improve their playing capacity. Gambling was the primary concept at play with the loot box offering; it was a pioneering approach to how casino content was adapted for a specific demographic. Accordingly, the equipment value would be equal to or less than what the player paid, meaning the player paid either to win or to lose. In light of the use of various types of currencies and payment methods to pay winnings, several government bodies and authorities had concerns regarding the concept of money laundering.
Additionally, around the same time, several gaming providers have begun releasing crush games, which are not the conventional RNG games but have now become their own market. The surge of crush games was also due to the entry of younger players. Unlike classic casino games, crush games have shorter sessions and are exciting and volatile.
Also resulting from demographic changes and content evolution is the emergence of skill-based online games. Nowadays, it is not just luck that dictates how well you do; there is an element of skill involved.
Games that blend RNG with skill-based gameplay, such as fishing, hunting, and shooting, are also popular. While their gaming features are similar to shooter video games, the addition of betting makes them more engaging and entertaining. Demographically, players from Asia and young people around the globe are interested in these new forms of skill-based entertainment. It’s no surprise demographically, the younger generation is represented here; from their early childhood, they have been exposed to online games, so they are more confident in their playing skills and talent than previous generations.
Will this influence the gambling market?
Playing trends are changing due to demographics, and the iGaming market will undergo some transformation. Esports and virtual sports will grow in popularity, as will new types of gambling games, as younger people make up most of the population. With this younger generation, technologies and socializing will expand and develop, and companies will have to adapt to fulfill their requirements.
Although online casinos cater to a wide variety of verticals and demographics, for the time being, Our team believes that most players will stick to classic games despite all of these gaming innovations. The reason why? The nostalgic sentiments and familiarity that come with traditional games. Games are emotional pursuits; this fact shows via the existence of various support groups for gambling addiction. Be it optimism or retribution – people return to classic casino games every time with their emotions by one of the reasons that drive them.
Our team also discussed long-term viability and keeping up with trends. In recent years, the iGaming industry has seen numerous trends. The main reason for their emergence is to appeal to the younger generation. More data is required when it comes to investment and the scale of changes in content. Sticking with gaming content, such as conventional casino games, which are still popular and have weathered the test of time, has shown to be profitable thus far. Or do game developers believe that they need to alter their games and move in a direction that they feel will be popular due to social media platform trends? Through more data and time, we will get a better gauge of this question of viability.
At Uplatform, we are committed to our client’s success. We approach everything individually and optimally instead of adopting an “out with the old, in with the new” mentality. We believe that iGaming enterprises need to consider a multigenerational strategy to avoid losing out on profits and stable growth. We understand that trends come and go, and each generation and type of gaming content has unique qualities and benefits vital to a business’s future and long-term success.
Get in touch with our team if you’re planning to launch a new brand or improve your current business.