Dissecting the Keys to the Future of the Gambling IndustryPublished January 6, 2020 by Lee R
BetInvest COO Max Dubassoarsky identifies those born since 1981 as the key to the gambling industry and its future.
Considering the needs of two new generations will define the standard for gambling products and services, according to expert opinion of sports betting and iGaming solutions provider BetInvest COO Max Dubassoarsky.
New Entertainment Standard
Max says the standards for how gambling products and services are created are affected by their entertainment value like never before.
The New Generations
The generation in question is referred to as millennials, the target segment Max identifies as catching the peak of digital technology in their formative years, which also not uncoincidentally is the time in which a group called the Generation Z babies were being born “with a smartphone in hand.”
Their Prevailing Characteristic
What these two sequential generations do have in common that is essential in relation to viewpoints shaping the gaming industry is that the so-called “millennials” of Generation Y born between 1981 and 1996 and the “New Silent Generation” of Generation Z born after 1995 are products of the digital age.
Born and bred on technological advancements, millennials are hard to amaze with high-tech “perks”, and it is completely impossible to impress or surprise Gen Z with even the most advanced 3D technology, VR and AR.
New Engagement Measures
To engage these new generational perspectives, operators are borrowing features from video games.
In contrast to the luxury recreation of gambling which Baby Boomers were bred on, millennials and Generation Z living in current unstable economic conditions are defined by what Max calls a level of rationalism.
This requires a more pragmatic approach to entertainment through activities that do not require leaving the house and the associated costs associated.
The gaming industry has adapted to the proclivities of these new generations through providing engaging gambling websites and associating their brands with entertainment events such as concerts by famous musicians and DJs, opening exclusive malls, and more.
Gen Z's tougher demands include light, fun and quality compatibility across different devices, and secure payment methods on top of current competitive technological enhancements such as high resolution, gripping storylines and 3D effects.
With players operating in dual worlds of online and offline environments, time is too precious a resource to waste on figuring out how things work, making use of leisure time the priority for operators tailoring new and updated games.