The iGaming target consumer base is changing fast and changing now. Are you missing something? Team Vinfotech challenges iGaming players in this blog.
Very Soon, millennials will make up around 50% of the iGaming target customer base. However, what used to work before won't work with the new generation of players, as they have significantly different expectations. iGaming operators, especially online casinos, have been playing against their customers for decades. It is the business model they are used to and are the most comfortable with. But, millennials don't find this idea particularly appealing, as they want to compete against each other, not against the house. They want to play the games where having superior skills can make all the difference in the world. This revolution has been brewing for some time now, but the iGaming sector has been more or less ignoring it. Up to this point, this was an acceptable strategy, but with millennials set out to become the majority of potential customers, the time for change is now.
The Generation – Y or the millennials grew up or picked up along the years of growing years, skill games on their consoles while chatting with peers on several social networks. This means they are not greatly excited over playing games of luck. So when it comes to iGaming, they are expecting stunning designs as good as the video gaming industry, skill games and social interactions – all in one experience. Currently, iGaming is serving them, more or less, recycled experiences.
First all of all, the industry needs to recognize the need for a change. The industry has a popular notion among customers that when they lose, the industry gains at the cost of their loss. This has gradually prevented a lot of customers from staying and trying out new products.
Fortunately, the one market segment that completely caters to this kind of smart millennial customer base is that of the daily fantasy sports. The only logical way that the iGaming sector could still prosper is through accepting that it can be a great extension to the video gaming industry, offering millennials what they really want.
Daily fantasy sports are leading the way in this regard, and one of the DFS leaders, DraftKings has already transformed a number of sports bettors into DFS players. This is a potential threat to the iGaming industry unless this segment adapts to this growing demand.
To win back millennial customer base, the iGaming industry should focus on game of skill, rather than game of luck.
/ Video games operators innovating as per the likes of millennial customer base
/ DFS players such as DraftKings
/ Starts-ups founded by millennials themselves who may come up with innovations in games
/ Come up with skill-based games
/ Games that are socially interactive in their structure
/ Games that are not played against the house
/ Designs that could compete with video games
The iGaming industry is not beyond redemption. Players in the sector can still achieve this as long as they recognize the changing customer base.
Just as we often advise fantasy sports startups, we want you too to see the bigger picture more clearly as you consider building innovative gaming or fantasy sports platforms. Of course, we are always around to answer your queries personally.
Vinfotech creates world’s best fantasy sports-based entertainment, marketing and rewards platforms for fantasy sports startups, sports leagues, casinos and media companies. We promise initial set of real engaged users to put turbo in your fantasy platform growth. Our award winning software vFantasy™ allows us to build stellar rewards platform faster and better. Our customers include Zee Digital, Picklive and Arabian Gulf League.
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