Gaming expert Adam Sellke, founder and CEO at Evolve Labs, stated his opinion in an article saying that millennial gambling generation is different and wants other entertainment and engagement requirements. He also pointed out that brick and mortar and online casino operators must recognize this and rethink about their traditional marketing tools and product offering.
Sellke also says that the conventional wisdom that millennials still want to gamble is not 100% true saying that their preferences are different and distinct. To make his point clear, he points out that in the 90s 58% of the revenue in Las Vegas came from gambling. In 2014 it was just 37%. “This emphasizes the importance of a new model of entertainment which would respond to the values and tastes of the millennials,” he writes. “I would also argue that millennial gambling isn’t about gambling at all. It is also not related to casinos only. It’s more about eSports and skill based gaming competition.”
He continues by saying that the typical values of the millennials provided by eSports events and competitions are around flexibility and balance, transparency, collaboration, advancement and instant recognition.
Sellke also continues to explain what the typical business reaction would be defining it as ‘Ignore, Kill or Control.’ In other words, he says that instead of turning their back to the new, operators should evolve or suffer the consequences because change is inevitable. “Instead of suing innovators or sticking to the familiar and traditional, gambling operators need to embrace eSports and run with it,” he added.
At the end, he suggests that it’s high time to be creative and act. However, it’s important to act in the right direction because missing what drives the behavior of millennials would have a devastating impact. Sellke says operators should get it right and they would be around for the generation Z.