The next generation of sports bettors driving the gambling industry forward are Millennials and Gen Z. With the advantages this brings there are apprehensions within the industry that these generations of bettors may disregard traditional betting markets.

At Uplatform, we are very interested in factors and data on global populations. We believe that millennial and Gen Z demographics are essential to the future success and sustainability of the gambling industry.

This generation is digitally proficient, financially astute, socially aware, and likes to be connected to everything around them. Sports have always had a social component that connects people, whether it be at the neighborhood sports field, the pub, or in your garden with friends. Within the gambling industry, a new kind of fan connection has appeared. Offering the prospect of predicting hundreds of outcomes from a single game thanks to sports betting.

Gen-Z is frequently viewed as being more frugal and less inclined to spend on frivolous goods, yet they are prepared to part with their cash when it comes to interesting and engaging social events. With a little more understanding and a strategic approach, sports betting has the potential to become a market that tremendously appeals to this generation. 

Keeping An Eye on Trends

We can learn a lot from Gen Z, such as how they spend their excess cash and how they use the Internet. CivicScience study research indicates Generation Z is more likely than previous generations to be interested in innovative betting methods. 

Given the intense competition and the reality that 60% of consumers aged 25 and under have stuck with one brand after signing up with the business, it’s crucial to provide these audiences with offers they can’t pass up.

How Can This Be Attained?

The answer to this question lies in the palm of Gen Z’s hands. We are talking about a generation where everything revolves around mobile phones. It’s expected that they’ll be the largest generation in the workplace and the most populous generation in a few years as well. Thus, they’ll be able to spend more globally since they’ll have more disposable income. Businesses that want to engage Generation Z successfully must tap into their everyday world, the world of mobile phones.

Therefore, it is unquestionably advantageous to make betting sites efficient, simple to use, and compatible with various mobile devices. This is where Uplatform shines and offers a range of user-friendly responsive templates. In addition to mobile apps and web versions for all devices, we offer intuitive iOS, Android, and Windows apps, as well as Telegram betting. By leveraging the social element of the GenZ and GenY behavior, Telegram can be effective for reaching and engaging next-generation bettors.

The ability to bet online from anywhere appeals to GenZ bettors. Considering that this group enjoys small, fast bets, we can see in the following how mobile betting is their goto method:

Large bets are more common for desktop users but less frequent. When it comes to betting numbers, mobile betting is on top. Desktops at 22.64% are lagging behind mobiles which have 77.16 %. GenZ bettors use mobile devices more frequently, but they bet smaller amounts. It is appealing from them to bet on the go and quickly. Mobiles must be considered if betting operators wish to deliver an attractive and positive user experience to this demographic. 

New Verticals And A New Generation

Globally, esports is expected to generate $2.55 billion in revenue by 2022, and younger generations are at the forefront of its popularity and growth. Considering they were raised or born during an age when digital technology was exploding, where computers and mobile phones were everywhere, this shouldn’t be a surprise. Compared to previous generations, they are more connected to Esports and are no strangers when it comes to video games.

Uplatform’s data shows that 94% of Esports bettors are under 30 years old. To successfully serve this market, operators have to offer high-quality and varied betting options for this vertical.

Regarding Esport games, Uplatform stats indicate that CS:GO, Dota 2, and League of Legends are the most popular Esports; more than 91% of bets are placed on these games. Betting on Age of Empires, Valorant, StarCraft II, and Quake is also on the rise. As a result of GenZ’s preference to Esports, our team has dedicated its resources to covering all the prominent Esports. Including fun and cult titles like Angry Birds and Undercooked. This results in targeting a larger audience and boosting brand loyalty. Sportsbooks with a broader selection of betting types and markets, along with popular and unique Esports will provide Gen Z bettors the ultimate Esports selection.

Another vertical that resonates with GenZ is competing professionally in fantasy sports, using proxies of real players to form virtual teams. With over 7 million players worldwide and growing yearly, the Fantasy Premier League, founded in 2002, is just one great example. The fantasy sports market is estimated to reach $43.35 billion by 2026 at a CAGR of 13.6 percent.

The popularity of fantasy sports and leagues is growing as fast as wagering on them, making fantasy sports a must-have vertical for attracting next-generation bettors. Due to the increased youth population, the expansion of digital infrastructure, the affordable nature of smartphones, and the increasing popularity of various sports, the market has seen tremendous growth.

Creative Selections

Instead of betting for instant profits, Gen Z prefers betting for fun and entertainment. Providing creative, interactive, and different betting options is therefore vital.

A gamification element can make betting more attractive. Gamification is part of our selection of bonuses at Uplatform. In order to determine what types of gamification elements to include in your service, it is vutal to know who your players are before you take this approach. 

Gamification with a social emphasis would be beneficial for brands that are immersed in the social interaction of their players. Users can, for example, earn followers when placing bets and see how many people have placed the same bet. Socializing with others via chat apps with others who have placed the same bet is another way to offer Gen Z an experience that is meaningful and beneficial. As everyone shares a common interest, making it easier to relate. This also creates a sense of belonging to a community, which is extremely helpful if you want to retain users even if they are not winning.

Betting companies often use covert incentives to make their customers feel rewarded, such as giving a player a more individualized offer. The random nature of this strategy also makes individuals feel unique and that they deserve it.

Future Perspectives

One of the main issues is engaging Gen-Z. Leagues and broadcasters run the danger of losing an entire generation if they don’t adapt to new technology and shifts in customer preferences. Generation Z has long been criticized for being “unreachable,” but those businesses that seek out an approach to strategically reach and connect with this generation will undoubtedly succeed. 

Betting businesses can prosper in the future if they adapt their offerings to take full advantage of the outstanding sportsbook and optimized solutions Uplatform already provides.