Age is a massive factor in life, not only in terms of how people look at the world philosophically but also concerning how it shapes their preferences and makes them adjust their lives accordingly. A generational gap is a term often used to describe the chasm separating the behaviors and beliefs of members of different age demographics. It goes without saying that specific views and tastes are more prevalent among members of distinct groups than the rest of society, with these inclinations referring to cultural values, political leanings, taste in entertainment, and even proclivities to playing games of chance at casinos online USA sites.
Over the past decade or so, popular culture has made a big deal about classifying the public based on the year people were born in. Hence, the ruling classification is as follows. Baby Boomers came into this world between 1946 and 1964, Gen X-ers are individuals birthed from 1965 to 1980, Millennials are those that came showed up on the planet from 1981 to 1996, and Gen Z members is everyone born between 1997 and 2012. Naturally, the period a person grows up in dramatically shapes them, affecting even seemingly banal things, such as how much they choose to spend on hobbies. Since this is an online gambling website, we shall look at the spending habits of the demos mentioned relating to real money online casino games in this article.
It would seem logical that Millennials, as the youngest adults of the pack, and the most tech-savvy ones, would be most prone to playing online casino games for real money. Yet, is this true?
Well, read on to find out what generation spends the most time with sites from our casino reviews page opened in their desktop and mobile browsers.
Without question, people below forty gamble the most online, with the median internet gaming age being thirty-five.
Do Millennials Spend the Most on Gambling?
According to a survey conducted at the ICE London Expo in 2020 by PXP Financial, an end-to-end payment provider, Millennials are the biggest gambling spenders, representing 52% of online gamblers polled.
However, despite them being the most active when it comes to enjoying internet reel-spinners and table games, this survey did not rank them above the other three generations as the most sizeable spenders. That honor fell on Generation X. Nevertheless, PXP Financial’s previous research contested this claim, with the company stating that when looking at the big picture, Millennials likely do spend the most on gaming entertainment, seeing as they have the most disposable income.
A study at the University of Lethbridge confirmed this, as it showed that 70% of interactive gamblers are between the ages of eighteen and thirty -nine.
How Much Does Generation X Spend on Gambling?
It is a fact that Gen X-ers prefer land-based gaming. That much should be clear by stats showing that 54% of Las Vegas visitors are forty-years-old or older. Going by a survey from the Stockton University School of Business (the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism), similar percentages apply to Atlantic City. As America’s second-favorite gaming hub also mainly gets visited by individuals over the age of forty who are primarily on the prowl for a fancy casino bonus, some gambling fun, and fine dining.
In some European countries, like the UK, it is not uncommon for around 50% of Generation X members to gamble. Yet, it has to get mentioned that buying scratchcards and lottery tickets also qualify as participating in this pastime, despite many not seeing these hobbies as gambling. In Scandinavian countries, some problem gamblers (or borderline gambling addicts) from this demographic spend upwards of $150 on betting fun.
In 2019, Bankrate analyzed the spending habits of average Americans, and their study showed that US Gen X-ers spend around $1,560 annually on gambling, which is $400 less than Millennials. Also, 59% of Generation X-ers preferred using credit cards when betting on events with uncertain outcomes.
Americans older than sixty gamble more money annually than all other age groups.
How Much Do Baby Boomers Spend on Gambling?
In most developed gambling markets, people older than fifty-five rarely choose to test their luck online, with around 24%-25% of those in this demographic ever attempting internet betting.
That said, the stereotype of elders screaming Bingo in vast halls is not something that someone made up. The mentioned Bankrate survey states that Baby Boomers are by far the most gambling active generation. On average, a member of this group spends $2,913 per year on wagering entertainment. Perhaps, if more Baby Boomers discovered that they could take advantage of a no deposit bonus or two online, they would incur fewer gambling expenses annually. But, their technological resistance stops them from enjoying the many benefits that the online gaming sphere offers.
The chief reasons why older people gamble more than younger ones are because boredom, depression, and a desire for social gatherings are far more prevalent in the elderly. These cause them to play the lottery and visit bingo parlors and casinos more frequently than they should.
Has Generation Z Impacted the Gambling Industry?
For many readers, it is probably shocking to learn that a small percentage of Generation Z members have tried gambling online, using up some free spins on high-end slots. In reality, this should not come as a shock, as only 20% of this demo can legally gamble online. Still, the National Council on Problem Gambling (NCPG) claims this activity is slowly taking hold of Gen Z individuals.
Though, a problem with this demographic is that most of them grew up playing video games, so they do not get captivated by the chance-based gameplay interactive gaming products offer. Consequently, providers are now pushing for products featuring a skill element to get introduced in multiple jurisdictions, an attempt to capture this age group.
Nonetheless, it seems like Generation Z members are currently far more interested in exploring metaverse casinos, venues based in virtual shared spaces similar to open-world video games, than enjoying blackjack or roulette at classic online casinos.
