Millennial’s are the Biggest Online Gambling Spenders
Recently updated on April 30th, 2020
Millennials are High Rollers, they are found to be the biggest online gambling spenders. The generation you are born in doesn’t seem to be something that could potentially have a significant impact on your gambling patterns. But according to a new study, it is. A study was done to investigate what the market feels about payment options available at casinos.
The study focused on the four different generations
- Baby Boomer(1946-1964)
- Generation X(1965-1989),Millennial or Generation Y(1981-1995)
- Generation Z(1996-2012).
While spending more than anyone else seems to be the characteristic trait. The spending patterns and the methods of transacting seem to be unique. Millennials not only spend the most on gambling, but they also consider debit cards over credit cards. This is a new pattern because of generation X and the boomers who are believers in credit cards. It can easily be explained by the fact that credit cards are not that easy to get these days, millennials are a much weaker generation, and they struggle to secure credit.
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Debit cards contain all the savings a person keeps, and it is the tangible liquid asset of an individual. Essentially a debit card is far more valuable than using a credit card that can be easily reversed in the event of fraudulent transactions. This research suggests that many people do not mind using debit cards online; this proves the trust shared between players and casinos. These days online casinos offer safe and comfortable banking options; these sites have the worlds best encryption protecting players and their confidential information. All of which is a testament to the trust shared between player and casino.
Millennials are also the only generation to have experienced the internet peak in their prime years, and they know the online realm more than any of us. Every boomer or Generation X is one millennial away from understanding cloud computing and any other new technological advancements.
And while the world goes into the first every mass isolation period because of the COVID-19 pandemic, many people are finding solace in online entertainment. Casino games and much more are the type of entertainment you can find online, and if you are lucky enough, you could be winning taking home some real money.
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