Monday, November 28, 2022

Demographic shift: What does it mean for iGaming? | Yogonet International

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Customer relationship is an important field in any industry. No business would be without its customers, and as customer loyalty becomes more difficult to obtain due to rising competition, industries and companies across the globe are looking to shape their goods and services to match evolving trends. In particular, we have seen how the influence of player demographics has shaped casino content over the years, especially as more younger generations enter the space looking for all things fast, exciting, and volatile.

Years ago, the casino industry marketed towards demographics playing “games of chance”, which included video poker, craps, roulette, blackjack. While each gambling niche had objectives of its own, the demographics involved remained the same: men and women in their thirties to over fifties. Back then, life was so much simpler for betting and gambling companies.

Here are some insightful observations shared by Uplatform, sports betting and casino operating platform, related to demographics and casino gaming content.

New Gaming Trends

As Esports boomed in the 2000s, catering largely to a young audience, it became clear this demographic was worth investing in. This generation preferred games that were more thrilling and interwoven with popular trends, rather than engaging with traditional casino games that were rewarding, safe, and secure. One such key Uplatform pointed out was that around this time, a new “game of chance” emerged, in which Esports players would pay a fee to unlock a loot box containing an Esports weapon or piece of equipment that can be used to enhance their playing ability. The concept was essentially gambling, it was one of the first instances of casino content adapting to playing demographics. The value of the equipment would be equivalent to the amount the player paid or less, meaning the player was paying money to either win or lose. Numerous industries and government bodies had concerns with the concept and links to money laundering due to the multiple currencies and methods used to pay winnings.

At the same time, several gaming providers started to release crush games, which are not traditional RNG games but have started to become offered on the market as an independent vertical. Again, crush games were a result of younger players entering the space. Crush games are exciting and volatile games with shorter sessions, which is something classic casino players never openly required.

The emergence of skill-based online games is also the result of demographic changes and content evolving. The game is not solely based on luck anymore; it’s based on skill level. Additionally, fishing, hunting, and shooting games, which combine RNG with skill-based gameplay, are becoming increasingly popular. Fishing games are a specialty gaming option available to online casinos. Their gaming aspect is reminiscent of shooter video games, with the betting element making it more exciting and fun. From a demographic standpoint, Asians and younger individuals worldwide enjoy these new kinds of skill-based entertainment. Compared to older generations, the younger generation is more confident in their playing ability and skills because of their experience playing online games since childhood.

How will this affect the gambling market?

Due to the demographic shift, trends in the market are coming – there will be a significant change. Young people will make up an increasing proportion of the population, new types of gambling games will arise, and Esports and virtual sports will develop. As technology and socialization evolve and develop, the new generation will dictate its own rules, and businesses will need to adapt accordingly.

Despite all of these verticals and different demographics wanting different things from games, the online casino industry will remain traditional in many ways, with at least 50% of players sticking to the classics. Why? Because traditional games ignite feelings of nostalgia. Games are an emotionally driven activity, which is why there are so many auxiliary services available for gambling addiction, such as support groups. People come back to classic casino games all the time because their emotions are driving them back, whether those emotions are hope or retribution.

Uplatform also emphasized the impact of keeping up with trends and its long-term viability. Over the years, the iGaming industry has seen many trends. Interestingly, many of them have emerged to keep up with the younger generation’s interests. However, the impact of different demographics on industries should not be overlooked, and perhaps more data is needed in this area when it comes to game-staking investment by staying true to the origins of gaming content, such as classic casino games, which are still very popular and have stood the test of time. Or do some game developers simply conclude that they need to change their games to reflect what they believe will be popular due to trends such as those arising from social media platforms? That is a question that only time will be able to answer.

The more demographic data we have, we can better understand the dynamics of people and regions, identifying patterns that can help us anticipate future demand and possible trends. If you want to guarantee your business remains current and competitive in the fast-changing world, you need to ensure you cooperate with a sports betting and casino platform that keeps up with all the market developments. More importantly, a reputable partner that has the capacity and versatility to support your business with changing trends and innovations.



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