Throughout the globe, brick-and-mortar casinos attract people of all backgrounds to their establishments. But the clientele in these venues aren’t limited to worldwide celebrities, old ladies enslaved to slots, criminals looking to cheat the house, or people with buckets of money. In fact, much of the public is under the misconception that land-based casinos are too good for Millennials and those in the Gen Z bracket. 

With the height of online casinos and mobile gambling, naturally something like this would be easy to believe. And to an extent, it’s actually true that the youths of today are statistically more inclined to gamble online than in real casinos. This is a big contrast to their parents’ generation (Gen Xs) which make up a massive 72% of all slot players in land-based casinos. 

Why Aren’t Millennials Gambling?

It’s not silly to presume that one of the primary reasons Gen Y and Gen Z aren’t too taken with gambling is because they simply can’t afford it. According to studies, 70% of Millennials in the U.S. visit casinos with less than $100 to last them the entire night. Most of this money is spent on food, drinks, entertainment, and even travel and accommodation can be a big expense for just one night out at the casino. 

This doesn’t leave much for playing the high stakes poker rooms, or any games which are capable of providing a significant return. Maybe they’ll opt for a 10-dollar buy-in on a table game or chance a few coins on the slots, but they’re unlikely to get any more adventurous with their bets than that.  

The Age of Smart Devices

Aside from being financially crippled from switching between jobs, outstanding university fees, or potential debts they may have accumulated through other means, another plausible reason why Millennials aren’t visiting land-based casinos is the fact that they can access the same game collections and more through their mobile devices.

It’s estimated that Millennials spend an average of 18 hours a day scrolling and tapping away on their smartphones; engaging mostly in social media, e-books and online news feeds. 

As it’s common for these platforms to host free and paid online games, players aren’t feeling obliged to get dressed up, buy expensive drinks, or tolerate the company of strangers. When you consider this and also take into account the thousands of real money casino apps available in 2020, the choice between leaving the house or heading to the local casino probably speaks for itself. 

Looking for a Challenge

Many of the games found in land-based casinos are games based entirely on chance. Slot machines, roulette, and blackjack might sound like easy and appealing games to play for someone in, say, their 40s, but a big proportion of those under that age are more used to playing games based on strategy and skill.  

Young people have been accustomed to playing with classic platform games, RPG-based video games, and online multiplayer tournaments for the last decade or two. Practically all of these games feature impeccable 4k graphics, cinematic sound design, and hours worth of maps to play with, so it’s understandable that land-based casino games are probably too basic in their design and performance for the generations of today.  

Millennials are Conscious of Risks

HackersPotential risks like hackers, viruses, and harmful malware can be a big source of problems for people who use the internet. Even though most online casinos — at least the licensed ones — are safe to play at, these sites can still be susceptible to these attacks as well. 

Luckily, Millennials have grown up using computers and the internet like it’s always been the norm, which suggests that the majority of them probably know how to keep themselves safe online. Whether this is in regards to their passwords, banking details, addresses, or which sites they access, they know they are responsible for their own safety if they’re choosing to gamble online; they’re not relying on any cameras or security guards to look out for their well-being.

How Casinos Are Taking Advantage of VR

Virtual and Augmented Reality are leading as the latest trends to heat up the world of tech. This market, however, has now become a target for developers and gaming operators looking to create innovations in casino gaming cognate with the world of VR and video games. 

Some sites have sprouted up in the last couple of years, enabling those with the right gear to play slots, blackjack, poker, baccarat and other classic games for real money, entirely as if they were sitting around the table or machine themselves — thanks to VR casinos. 

This alone leaves us begging to differ how land-based casinos can compete with not just the convenience of what a VR casino can provide Millennials, but the pure levels of fun from playing casino games through something so advanced and futuristic. 

Why VR Casinos Aren’t Popular

VR may sound glamorous on the surface, but this is where there’s a catch, and also the reason why VR casinos aren’t the most talked about topic of the gambling world. Virtual Reality casinos are purely for entertainment and amusement purposes only. There are no possibilities for players to earn real cash or prizes of any value; only virtual currency can be won and virtual points to use on other games. 

In addition to the disappointment of not being able to win any real money, the headset, equipment and software required to play these kinds of casinos is out of the price range for most young people. The price of an Oculus Rift headset still comes in at around $700, even though it’s been on the market for a few years now. 

Casinos Need to Adapt

All of these things are just speculation as to why land-based casinos struggle to attract Millennials and Gen Zs to their establishments. We don’t believe that land-based casinos in any way suffer from the lack of this demographic visiting right now, but in years to come, and if online technology continues to evolve at its current momentum —  they will probably need to adapt in some way if they want to exist.

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Thomas McCoy was born in Bethesda, Maryland and studied finance at the Kogod School of Business at American University in Washington D.C. before heading to New York and a job as a forex trader on Wall Street. Successful enough to launch his own, online forex trading platform, Thomas has long had a keen interest in the places where the worlds of finance and technology meet. As a prolific blogger, Thomas considers himself an expert on cryptocurrencies, casino asset restructuring, and emerging technologies set to change the way people do business.