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The iGaming industry has grown incredibly, with more than $63bn net worth in 2022. However, as traditional slot machines fall out of favour, many iGaming companies are searching for ways to attract younger audiences.

While it’s essential to focus on attracting younger generations to iGaming, it’s crucial to remember that older users tend to spend significantly more money on online gambling activities.

According to a report by the UK Gambling Commission, users over the age of 45 generated the most revenue in the iGaming industry in 2020, accounting for a whopping 45% of all online gambling activity.

In contrast, users under 35 accounted for 27% of the total revenue. These numbers highlight the immense value of targeting older users for iGaming companies seeking to maximise revenue.

Where’s the money, Lebowski?

Companies should focus on attracting older users, who are more likely to generate significant revenue. One of the best ways to attract older users is to create marketing campaigns that target their interests and preferences.

For instance, iGaming companies can create campaigns that focus on the social aspect of online gaming, emphasising the opportunities for interaction with other players. This approach would appeal to older users who may be looking for social engagement as well as entertainment.

Slots are amongst the most popular social casino games list

Social casinos are a growing trend in the gaming niche that caters to older users. Social casinos are online gambling sites that offer free-to-play games, allowing players to enjoy their favourite casino games without risking real money.

Social casinos are rapidly gaining popularity, with the global social casino market projected to reach $8bn by 2025, up from $5.2bn in 2019.

According to a recent report by NewZoo, social casinos attract a primarily older demographic, with over 50% of players aged 45 or older. This trend suggests that social casino elements within their funnel or product offering could be an effective way for iGaming companies to attract older users and generate more revenue in their main products.

Another effective strategy for attracting older users is to offer promotions and bonuses that appeal to them. For instance, a loyalty programme that rewards users who consistently spend large amounts of money on their platform could incentivise older users to continue using the product and spending money.

While making cash right now, you should think long-term

While targeting older users is vital for iGaming companies to generate revenues here and right now, focusing on younger generations’ long-term potential is equally essential.

One way to achieve this is by creating content that appeals to their tastes and preferences, which Betr in the US is doing with fantastic success. Younger generations are more likely to be data-driven and analytical, as they were born into the digital age and have grown up surrounded by data. Therefore, offering data-driven content and analysis could be an effective strategy for attracting younger users.

Betr’s TikTok page

The mobile and digital gambling space allows iGaming companies to target younger audiences separately. The online area tends to be more inclusive than casinos, and iGaming companies can leverage this by creating welcoming spaces that reflect Gen Z and younger Millennial values.

For instance, creating user-friendly mobile apps with a modern design and a seamless payment process could appeal to younger audiences.

The magic is how to find the right balance

In conclusion, iGaming companies should strike a balance between appealing to younger and older generations to ensure sustained growth in the industry.

Companies can attract older users and generate more revenue in the short term by creating tailored marketing campaigns, promotions, and bonuses. At the same time, companies should develop content and apps that appeal to younger generations’ tastes and preferences to ensure long-term growth.

By taking these steps, iGaming companies can leverage the worth of each age group and focus their efforts on the audience that is most likely to generate the most revenue.

Dmitry Belianin is an experienced marketing strategist and leader in the sports betting industry. He has over 15 years of experience in marketing and gaming and a proven record in building global teams, growing profits, and implementing high-growth marketing, digital, and product development strategies within the biggest gaming companies.

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