As with other forms of entertainment, the betting and gaming industry must be aware of the impact of demographic change on its operations and opportunities.
In conversation with Nick Johnson from Applico In an industry webinar titled "21st Century Casinos", two US casino and gaming professionals discussed the importance of the demographic shift for the industry.
Chris Bevilacqua , co-founder and CEO simplebet , believes that the main demographic shift between older and younger generations regarding betting has to do with how entertainment is consumed.
He noted that while the older generation will buy a cable TV package, the younger generation is more accustomed to a combination of streaming services like Amazon and Netflix, as well as video games.
“This is a much more interactive experience based on immersive entertainment that does not require the younger generation to sit down and watch a three-hour broadcast,” he elaborated.
“They can get in and out, and that's really the way the game is gamified. This is really something we have spent a lot of time on and overall you will see a lot of product innovation. I think we are at the forefront of innovative products in this new mobile phone, right for the consumer world.
"I think we're going to see quite a bit of taking live sports and turning it into a game like a casino or a slot machine where 12 minutes into the baseball game we're going to bet 20 or 30 on fields and bats." and then exit and return. I think this is where we look to the future and why I think this is an exciting time.”
Meanwhile, Mark Thomas , co-founder and CEO Zen Sports , focused on the growing trend among young bettors to bet in favor of mobile betting and online betting as an alternative to traditional land-based verticals.
“Some legacy states that have been using sports betting for a long time, they still require you to come and register in person, or they require you to be present at the casino to actually be able to bet,” he began. .
“Millennials want to do something completely different, not to mention Generation Z and Y. They expect to do everything from their phone, from signing up to funding and placing bets to cashing out.”
However, he also agreed with Bevilacqua's arguments regarding the immersive experience, adding: "The new generation doesn't want to sit down and play board games that take five to 10 minutes between hands.
“They want everything to be closer to esports betting and building lounges where they can watch and participate in the gameplay – an addictive gaming experience that is much more modern from a technological standpoint.”
Source - Applico YouTube channel
Chris Bevilaqua's post: "Exciting experiences that attract young people" first appeared on GamblingTV.com.