The Problem With Data That Says Millennials Don't Gamble
There has been a lot of hubbub over the millennial generation and their lack of gambling. As the focus of several conferences, including the upcoming 2016 Global Gaming Expo, many gaming products have proposed very reasonable solutions to attract millennial money. There is just one problem: the data that says millennials don't gamble does not really exist.
Now, that is not to say that proposed “solutions” to casino's millennial problem are not good business ideas in general. In fact, some of them are great ideas. Not only millennials, but many baby boomers are attracted to the new slew of millennial-targeted gaming products which are skill-based, like poker.
But when it comes to all the claims that millennials are about to crash the casino industry because they don't gamble like the older generations, the only problem is finding evidence – because there is none. That is because Harrah's Entertainment, the first company to launch a player-tracking system, has no records before 1997 when they created Total Gold.
There are plenty of numbers that show how today's 21- to 35-year-olds are not gambling as much as the older crowd, but there is no evidence that the older generation were gambling more when they were 15-20 years younger.
Quite the contrary, actually. Today's young adults are dominating the poker scene, both live and online, they pioneered a whole new form of sports betting with esports wagering, and they love DFS. As first generation that grew up with the internet they have had unprecedented access to gambling all their lives. There is no reason to believe they will avoid casinos, so long as the casino industry continues to evolve with current gambling trends.