The Gambling Preferences of Generation Z

As the rapid advancement of civilization continues, generations are growing up with technology and artificial elements playing an ever greater role in their lives. This has been more true of GenerationThere are occasions when we here at ReadyBetGo want to bring you interesting facts about the gambling industry  When something catches our eye, we will publish it for your enjoyment. 
  Z than anyone else, as they have never known a childhood without the presence of all sorts of addicting online technologies. Consequently, gambling operators have been particularly successful at hooking them into online gambling and their tastes have emerged as the primary impetus for iGaming entertainment accommodation online. Let’s take a greater look at this age cohort and their behavior.

Preference for Digital and Mobile Gambling

Generation Z is defined as people born between 1997 and 2012. From socializing on platforms like Instagram and TikTok to gaming consoles and mobile devices, this generation’s entire existence revolves around the Internet. To them, the digital real is not merely an extension of their social life but the nucleus of their entertainment, shopping, banking, and yes, their gambling experiences as well.

They are the most enthusiastic about gambling on:

• video poker;
• customization microtransactions;
• Jetx crash game;
• crypto transactions.

A whopping 69% of the generation reports gambling online. Millennials are right behind them at 68%, with the involvement of older generations dropping off after that. Young people are used to hanging out at home and playing video games as well as socializing with their acquaintances via social networks. When it comes to the thought of playing in person, they are more frequently ambivalent about in-person human-to-human interaction. They are also not hot on delaying gratification, adhering to dress codes, and conforming to operating hours. 

Their addiction to ubiquitous stimulation and short attention spans have been driving the markets to accommodate quicker, shorter bets in which large sums of money can be won. In addition to this, the Florida Independent Alligator reported that men are twice as likely to gamble as women.

Integration of Gaming Elements and Gamification

As video games have rapidly spread throughout the internet and in the form of smartphone apps, young people have grown much more willing to spend their money through the Internet. Though a lot of game apps use the freemium model, many Gen Z-ers have long been happy to spend money to upgrade their characters, enjoy the full paid version of games, and even buy virtual coins to defeat their online rival friends. Therefore, being able to actually win money back from purchases that they’re already accustomed to making online but in gambling apps is just a cherry on top to them.

Older generations are a lot more shy of technology in general, though a substantial share of them is heavily engaged in social casinos as the age 50 and up demographic (mostly in developing countries) is the largest for playing poker, slots, and other games online that don’t offer withdrawing real currency. What stands out about video game culture though is they also involve more strategy than old-fashioned slots for instance, and these same game elements have been incorporated in the newest online games.

These include:

• Challenges: on a regular basis, players are enticed with rewards in the event that they complete particular objectives in certain casinos. This may involve trying out three different games, earning 1,000 XP, or winning a hand of blackjack this week. This gives players a sense of accomplishment and consistency.
• Tiered statuses: people are given certain statuses at casinos according to the amount of money they wager, which is often limited to the past week. For wagering a certain amount, they get perks like rakeback, deposit bonuses, invites to tournaments, NFTs, free spins, and actual material rewards.
• Bonus rounds and side bets: in the middle of a game of roulette, a person can place a bet on an odd/even space in addition to the main bet, thus spicing up their bet to another level. If they end up with a certain poker hand, they can also jump into a bonus round where they can make an additional bet such as on a flush or two of a kind.

Social media and the impact of influencers

Gen Z-ers get a lot of their information and consume a lot of content specifically online, unlike the older generations who still tend to watch a lot of news on television. Anyone can become a content creator online and eventually have their channel blow up as long as they appeal enough to certain segments of the population. Therefore, these people have a lot of sway on their audiences. For that reason, influencers recommending or featuring certain products is a lucrative advertising method.

It’s very common nowadays to see popular influencers playing casino games from certain casinos. This may be casually worked into a video and not even necessarily announced as an overt ad. Since their followers strive to be like them, a lot of people end up trying out the same games. Another nice benefit this gives operators is that it removes the stigma often associated with gambling and frames it as just another form of entertainment. Gen Z values transparency and relatability and social media stars add a sense of authenticity in their ads.

These influencers can even go as far as creating educational material that tells their audience members:

• how to navigate online gambling platforms;
• the features of certain games;
• how to win in certain games;
• and how to play responsibly.

Brands can leverage social media’s reach to target audiences they otherwise would have no way of reaching. Many of these influencers dive deep and discuss their personal gambling journeys. They talk about the big wins they’ve had in small, bit-sized engaging pieces that provide an entry point for new players in a non-intimidating way. Such unobtrusive, “native” ads can also go on for quite a long time, since nowadays people are used to watching streams that go on for hours. 

People are used to donating money directly to these influencers, thus rendering them doubly prepared to spend their money on a platform they recommend. Some people criticize these adds though, particularly as many people are too young and native to discern risks and real-world likelihood of winning. 

For that reason, there are especially stringent regulations in place certainly for advertising to audiences who may involve lots of children. This can get a casino in deep trouble if they’re not well-versed and attentive to laws in jurisdictions they operate in. That said, Gen Z is widely recognized for its increased awareness of and willingness to discuss mental health issues, such as stress, anxiety, and the challenges of addiction.

Payment Methods and Cryptocurrency

Furthermore, younger people are more heavily immersed in one of the newest revolutionary payment methods – cryptocurrency. These digital assets come in a wide range and offer a variety of benefits. They tend to transfer at far quicker speeds and at lower prices, all the while offering players anonymity. For this reason, almost all online gambling platforms have accommodated this desire, accepting numerous cryptocurrencies. While other payment methods usually come at a cap per each transaction imposed by the financial institution, crypto payments tend to have the highest, most permissive caps.

It’s important meanwhile that gambling platforms remain aware of minors who may be faking their ages and remain vigilant in their KYC procedures to weed out any potential violations that may land them in hot water.