MILLENNIALS’ INFLUENCE IS GROWING AND SOON THEY WILL TURN INTO THE DOMINANT CONSUMER GROUP IN THE GAMBLING INDUSTRY.
The most important thing for them is expressing themselves. Sometimes that means tattoos and podcasts, while other times it means finding a hashtag for themselves and sending hilarious emoticons. It has become an increasingly difficult challenge for Sportsbook operators and marketers to tap into this key revenue stream.
Engaging and diverse offerings are most certainly the things that would help both operators and marketers in their pursuit to attract this growing demographic.
Millennials want to enjoy action through technology, and the gambling industry has the potential to attract and retain them. It can make millennial’s betting experience a new source of entertainment, fun and also income.
Technology has played a crucial role in the advancement of sports betting, and millennials tend to adapt to it faster than older generations. Betting from phones or tablets has become crucial nowadays and it is certainly a must for the younger generation. Offering new sidebets and exciting games is the way to appeal to the millennial audience with unique and seamless experiences.
Numerous studies have identified that millennials prefer playing and betting particularly when an element of skill is required. Also land-based shops should consider diversifying their offer; not just their gambling options, but also creating a comfortable and entertaining atmosphere where they can meet with their peers; for example, digital and interactive zones with Wifi and phone charging facilities that make the environment more attractive and fun for this particular demographic.
The betting industry must innovate to find gaming and social environments which appeal to the millennials. But what needs to be done?
Here are a few of my own suggestions:
- Providing the opportunity to wager money (i.e. 10 dollars) and have some hours of action-experience to share with friends.
- Enable new audiences to earn points and compete against fellow punters.
- Combine the excitement of sports betting with the interaction of social media to create the ultimate social betting experience.
- Create a social network for the sports betting community, allowing users to stay connected while betting.
- Add the best performing tipsters so that the player can choose the best tipster that suits their needs, subscribe to him and bet on his tips, receiving an email alert once he has picked new bets. The player’s betting account will grow monthly, depending on the tipster’s performance.
- Include DFS (Daily Fantasy Sports), which represent a product that is going to keep the attention of the new growing audience, requiring skills and creativity while choosing their own team; mixing commitment, challenges and fun that young players like.
Operators don’t only need the right new products to target the crossover, but also the right software to improve the experience for the new generation of players and bettors.
It is vital that bookmakers are aware that this new young target likes to feel special, and for this reason they are attracted to personal and personalised offers.
Advanced technology and artificial intelligence allows operators to register millennials, monitor their behaviour and verify their preferences to provide them with the ultimate personalised player experience.
For this, we have developed an intelligent recommendation engine to personalise the gaming offer according to each individual player’s needs and requirements, giving them a truly personalised gaming experience.
Millennials were born in a time where technology has enabled them to socialise and connect with friends through the digital realm, with technology playing a fundamental and fully integrated part in their day-to-day lives.
They access their entire world through technology; whether it’s for work or play. By choosing an omnichannel platform, an operator can offer Generation Y the opportunity to choose what they want and how they want it, which will invariably lead to an increase in customer loyalty.
Millennials are tech-savvy, naturally-born multi-taskers; they consider self-expression important which is why operators need to make venues more relevant to them, giving Gamification and Social Gaming the special attention they deserve.
Written By Sabrina Solda, CMO, BtoBet