Has online gambling a future?
I wonder for a while if the online gambling has a future? There were several years of sluggish growth, and I even thought: “Is the online casino gambling dying?” However, this year the gambling market has slowly rebounded. I think there are some reasons to this. First, the economy is improving. Second, more millennials become interested in gambling online. For me the latter is a very important sign giving us hope that an online gambling will survive. According to The UK Gambling Commission report, in 2008, 10.6% of British citizens aged between 18 and 34 took part in any form of gambling. That figure had increased to 17.5% by 2014.
More Reasons To Growing Interest To Gambling Online
There are some other reasons to the growing popularity of remote gambling, as follows:
- Today’s casino has become safer, so there are fewer security concerns among gamblers.
- Gambling online is now more acceptable.
- There is more anonymity. Gamblers don’t have to worry about negative consequences if anyone else found out that they are gambling. The gamblers can still hide their identity by using proxies or depositing with bitcoin.
Millennials Gambling Preferences
Some studies shows that generation Y would rather gamble online than played traditional games available in the casino. The number of those who use remote gaming sites is on the rise. In 2016 18% of young adults played on gambling websites compared to 14.8% in 2008. The number of older gamblers increased as well, but attracting younger players is more important for the market because older players can give up gambling because either their income may decrease once they have retired or they may lose interest to gambling as they become older.
Once mobile started conquering the online gambling market, the industry has changed. Younger generation prefer gambling on their mobile devices. Mobile Gambling Trends & Statistics shows there were 2 billion smartphone users in 2015 and 20% of them used their mobile application to access gambling online. If in 2012 mobile penetration to the casino market was only 3%, this share grew up to 35% in 2015. 40% of the mobile users placed bets through their mobile devices in 2015. They expect the amount of bets will have reached $100 billion by 2018.
Industry experts state that millennials opt for skill games like poker, and blackjack rather than slot machines. Young adults consider slots boring because no skill can be involved. It’s annoying that slot games don’t give an opportunity to chat and compete with others.
That’s why Greg Giuffria, G2 Game Design owner, said that it’s necessary to invest more in skill gambling in order to draw younger users to online gambling if providers are going to survive.
He said: “The next wave of people isn’t going to stand there and play slots. The industry has to change or disappear.”
Many casino industry experts believe future games will combine roulette and video games. The addition of skill-based elements will certainly make the games more exciting and fun; however don’t expect that player’s chances to win will increase.
While it’s the 40 – 50 year olds who gamble online more today, this age is becoming younger and younger and the growing number of millennials is starting to gamble online regularly. Taking all this into account we can imagine how the gambling industry will change to cater to generation Y.