Ron Mendelson is the Director of Costa-Rica based International Business & Corporate Services consultancy firm, Fast Offshore. With over 24 years of real-world experience in iGaming Licensing and Payments, Regulatory Compliance, Tax-Efficient Corporate Structuring, Incubator and other Hedge Fund Licenses, Blockchain and Cryptocurrency related services, he advises a number of international clients on their business needs in the Americas, Europe, and beyond.
Earlier this year, YouGov published a report on gambling that, amongst other things, drilled down into the preferences of different age groups when it comes to online betting and casino. They found differences between preferences based on jurisdiction and that attitudes towards gambling varied based on age group.
The research carried out by YouGov focused on 13 markets worldwide. Notably, it found that some 41% of gamblers considered it as a fun pastime. Less than 18% said they thought it was an excellent way to make money.
This suggests that generally, people believe gambling to be a recreational pursuit. This is a good signal for governments and authorities considering introducing gambling legislation or decriminalizing it completely. Today, people don’t see gambling as something destructive; instead, it’s something to be done for fun and enjoyment.
Also revealed by the data is the fact that younger gamblers are more likely to consider it as a fun activity. The percentage of those who gamble as entertainment rises to 43% and even higher to 48% for 18-24. This demonstrates that around half of the under 35s gamble for fun. For operators looking to capture the attention of a younger demographic, this is valuable information.
Young people were also more likely to be open and talk about gambling with their friends. Some 63% of those between 18 and 24 said they freely do so, suggesting that stigma around online gambling decreases. On social media, the numbers are lower, but still, the 18-24 demographic are happy to talk about it on their platforms.
In short, the younger generation sees online gambling as a viable form of entertainment. They also don’t consider it taboo and are happy to discuss it with friends or online.
Those 18-35 are half as likely to engage in lottery and scratcher-type games than the 35+ age group.
Regarding their preferences, those aged 18-24 prefer to play casino and table games, accounting for 18% of all gamblers. Next up is fantasy sports with 11% of the same age group, followed by skill games with 10% and eSports with 10%. Those in the 25-34 age group are more inclined towards casino and table games, eSports, and skill-based games. They accounted for 14%, 12%, 11%, and 11% respectively.
As for the older generation, those aged 35 and above, their preference is for casino games, followed by skill games, fantasy sports, and eSports. Almost 10% of the over 35s enjoyed casino games, and just 5% liked eSports.
Across all generations, casino and table games come out on top. Fantasy sports and skill-based games are a close second, and eSports, a growing but somewhat niche sector, is also of interest. But if you are keen to onboard younger players, casino and fantasy games are worth consideration.
It may come as a surprise that eSports ranked relatively low across all generations. But keep in mind it’s still a developing vertical, meaning it will continue gaining traction and interest as time goes on. We believe that eSports betting is an essential product both now and in the future.
By considering the data and adding it to what we already know, we get a clear picture of how to develop products to meet the demands of our target demographics. Here are some examples.
The online gambling sector is more competitive than ever. This is due to its growing popularity as well as projections of increased revenue. However, there is still plenty of room to carve out a niche, particularly if you pay attention to the insights the data gives us. Starting your gambling site is an exciting prospect; just be sure to seek experienced advice before you do so.