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A millennial is considered someone born between 1981 and 1996 (between the ages of 27 and 42 in 2023), and they are not to be confused with Gen Z (individuals born between 1997 and 2012, so 26 or below).
This page will take a closer look at the rise of iGaming activities among millennials – the act of placing real money wagers at fully licensed and regulated real money gambling sites like online casinos, dedicated poker sites, and online bookmakers, which have become the new playground for tech-savvy millennials.
How have tech-savvy millennials helped fuel the growth of the iGaming industry?
The so-called millennial generation spends more money placing online sports bets and playing online casino games than any other age group, and many reasons can be attributed to how this age group alone has helped fuel the iGaming industry’s growth more than any other generation.
This particular age group has grown up in an ever-changing world where the internet and technology have become ubiquitous. There’s that and the undeniable hypnotic pull that feature-rich online slot machines and authentic table & card games like roulette and blackjack have over people.
iGaming sites appeal to millennials more than any other age group. Millennials are also still at an age where they take more risks than older generations.
Therefore, the allure of winning potentially huge sums of money from relatively small amounts using almost any modern computing device is sometimes too much to resist.
Millennials have many shared characteristics, but one of the biggest things they have in common is playing games at world-class real money gambling sites like 10bet.
They are comfortable with using online platforms for various activities, including all socially accepted forms of gambling. iGaming sites have basically given millennials a new way to bypass the traditional route to financial growth and success.
Millennials also love using cryptocurrencies to pay for goods and services, so the fact that market-leading sports and casino mobile betting app companies like the official 10bet website now accept cryptocurrencies as a viable payment solution for deposits and withdrawals, you can see why online casinos, sporting betting sites and other similar sites have become so popular with millennials.
Cryptocurrencies are known for processing instant deposits and superfast withdrawal times (usually up to around 15 minutes, which is lightning speed compared to how long it takes most other payment methods to process withdrawals).
Zero fees are attached to cryptocurrency transactions at 10bet, and crypto transactions that use blockchain technology are regarded as more secure than traditional payment methods because of the enhanced levels of encryption.
There’s also less stigma around gambling today, and there are more responsible gambling measures in place and safer gambling tools available to protect gamblers better. Many millennials today see gambling as a fun way to pass the time, just another form of entertainment.
How have technological developments helped with the rise of iGaming?
It’s not just the millennials themselves who have fuelled the rise of real money gambling sites. Many other factors come into play, namely technology.
For example, many incredible technology developments have been made in recent years. The biggest advancements that have been instrumental in taking the iGaming industry to the next level are the following:
– The devices we use to play the games, including desktop computers, cutting-edge mobile devices (smartphones and tablets) and laptops, are now far superior compared to just five or ten years ago
– We now have access to superfast internet speeds, meaning no more lagging, buffering, or stickiness issues concerning the graphics and animated sequences in the games. This also allows the games to load much faster
– Secure Socket Layer (SSL) encryption has made online gambling sites more secure
– There are now more APMs (Alternative Payment Methods) to choose from, and payment methods like cryptocurrencies offer complete anonymity
– Cloud computing has meant websites can offer thousands of games by having them stored in the cloud rather than physically on the website or in a download client
– The software providers that make the games have made the characters, the sophisticated game designs, storylines, and bonus features more immersive, appealing, and relatable to millennials
– State-of-the-art live dealer casino gaming and streaming technology have also helped take online casino gambling to the next level
All of these key factors combined have resonated with millennials, who have helped fuel the growth of the iGaming industry. It’s now the go-to form of entertainment for this particular group.
What else has been instrumental?
Thanks to the evolution of online casinos and licensed iGaming sites like 10bet, the days of players having to walk into a smoke-filled high street bookmaker or land-based casino to place sports bets or play their favourite slots are gone forever.
There’s also the sheer excitement online casino sites offer. They allow people to play their favourite games from almost any location on the planet at any time of the day.
You can also factor in the social aspect. For example, many millennials today like to catch up with friends, relatives and other like-minded people on social media sites, where they can exchange stories of big wins, reveal tips on how to play certain games and discuss which new games are worth checking out or what bonuses are worth claiming.
Final note
To sum up, the rise in popularity of iGaming sites is a complex phenomenon rooted in this generation’s affinity for technology and their penchant for fun & excitement, risk-taking and reward, control over finances, and decision-making. It’s also thanks to cutting-edge computing devices, faster web browsers, and faster Wi-Fi/internet speeds.
Over the coming years, the bond between millennials and other age groups and iGaming sites will likely strengthen as technology gets even better, the experience becomes more tailored on an individual level, and the dream of becoming an instant millionaire from one lucky spin and becoming financially free grows even stronger.