Casinos and gambling are losing favor among millennials. Here’s why.

It is not hard to see that there is a clear difference between each generation. For example, the millennials, or the ones born between 1981 and 1996, are distinct from all others because of their early introduction to digital technologies.

Because of this early exposure, this has caused a shift in consumer behavior which has disrupted several sectors’ approaches to customer service, particularly with regards to the ways in which young consumers interact with the products they buy. In particular, the gambling industry is in a difficult position with the millennials as their products and services no longer resonate with the people from this generation.

The Yale Tribune noted that only 21% of millennials considered gambling as “important in their list of activities,” which is only half the number from other age groups who considered gambling important. What is causing this decline in number? Here are some reasons.

Spending habits

It’s widely known that millennials approach personal finance in new and interesting ways. In relation to this topic, young adults nowadays would rather spend a night out drinking and dancing at a nightclub than gambling at a casino. Furthermore, they would prefer to spend their time and money on food, drinks, and entertainment, rather than gaming, should they decide to pay a casino a visit.

Likewise, spending money on online casinos is not a high priority for them. Online shopping, takeaway, and streaming service subscriptions are where they’d rather put their money.

Furthermore, boomers and Gen Xers are likely to defend their casino spending by saying that it’s a sort of recreation. Not if you’re a millennial. Instead of going to a casino to gamble, they’d rather travel and go on vacations.

Lack of interaction

The report also posits that millennials aren’t huge fans of casino games since they’re usually played alone. It implies that they like playing games or conducting activities as a group with their families and friends. While there may be a large number of individuals present in the gaming area of a casino, most of them are too preoccupied with their own activities to engage in conversation or even interact with other players. For instance, they believe that a larger number of players would enhance the excitement of playing a slot machine. Plus, the lack of skill involved is another thing that bothers them about casino games.

Outdated designs

In relation to the previous point, the source said that millennials would want casinos to be “immersive and inclusive.” They would want open rooms and public areas that are simple to navigate, as well as a more lively and active atmosphere. The thing is, casino floors and facilities have remained unchanged for such a long time, and the old design may have already lost its appeal to the newer generation.

Advancements in technology

The gambling industry discovered that, while millennials are not drawn to traditional casino games, they do appreciate a new form of gaming. According to Chief Marketing Officer at Gamblit Gaming LLC, Darion Lowenstein, millennials “grew up in entirely different technological surroundings and thus have entirely different gaming interests.” He says, “Walking through any casino today shows that there’s a huge age divide. Younger audiences want games that are similar to what they grew up with – Xbox, PlayStation, mobile and PC games are the bar, but the offerings on floors haven’t really changed to keep up with the new generation.”

Main source: https://campuspress-test.yale.edu/tribune/why-millennials-are-not-susceptible-to-gambling/