In many ways, Millennials are the most talked about demographic in history. Including individuals who were born in the build-up to the Millennium (and now in their early twenties to mid-thirties), they hold huge appeal among brands primarily because they account for a huge and particularly influential target market.
This is particularly true in terms of online sectors and markets, as Millennials tend to have grown up with sophisticated technology and continue to use this for the purposes of interaction, recreation and consumerism. No market reflects this better than the online gambling, which is dominated by Millennials across both male and female markets.
How the Smartphones has empowered Millennials and Gamblers
In this respect, the smartphone (and to a lesser extent, the tablet) has empowered an entire generation of online gamblers, connecting Millennials to a huge range of virtual casino brands and mobile bingo sites.
Historically, the average Millennial has shown little or no interest in the online gambling market, even once this segment emerged as a growth concern at the turn of the century. The reason for this is that online gambling was initially only available through desktop computers and laptops, which is the type of traditional technology that holds less appeal among Millennials.
They have instead showed far greater appreciation for smartphones, which offer greater flexibility and accessibility to users regardless of how they utilize the technology.
As smartphones have become increasingly sophisticated, we have seen software developers create immersive platforms and empower mobile gaming through individual handsets. This has helped brands to capture the millennial market, offering titles and a gaming vehicle that is tailored to suit their preferences. Such a growing trend is reflected in the average age of online gamblers, which has fallen steadily since 2008 and created a market where nearly 20% of players are now aged under 34.
How will this market evolve in the near-term?
Over time, we can expect this trend to continue as further technological advancement and generational shifts lower the age of the average online gambler. There may be other developments to look out for in this space too, with tablets becoming increasingly popular among Millennials who wish to enjoy a more immersive experience.
With a number of dedicated gaming tablets having entered the marketplace and the platform set to double its revenues between 2013 and 2018, we can expect to see Millennials become increasingly active on this platform. Alongside continued smartphone growth, this will create a compelling proposition that the majority of Millennials can relate too.