We are prepared to offer the products of the future today because if we don’t, these audiences will rapidly turn their attention elsewhere.
After years working with and for state lotteries, attracting the next generation of players has always been a challenging topic. We’ve discussed lots of ideas and analysis, behaviour patterns and desires. But we still struggle. This struggle is not confined to the (rightly) cautious approach taken by lotteries—but also to the stronger approach taken by our competitors in the gambling world. The following provides an insight into the thinking and given the way many jurisdictions are opening their markets (Germany, Netherlands and the USA) to sports betting. It provides useful reading.
Sure, Millennials have been affected by the economic crash of 2008 and the ensuing recession, but their spending ability remains significant. At 25% of the population, their collective annual income worldwide is expected to exceed $4 trillion by 2030—by then the biggest spending segment.
Millennials are the first digitally native audience and are rapidly increasing their use of mobile devices for entertainment and to watch sport. In the meantime, adult GenZs (18–24) began using mobiles from the age of just 10 growing up in a hyper-connected world, spending more than three hours a day on their mobiles. They are seriously switched on in more ways than one, living at home with their parents, saving more and with fewer financial concerns than their predecessors, never without some form of digital connectivity, making them an important audience now and in the future.
As one of the protagonists in the failed European Super League claimed earlier this year, more than 40% of people under the age of 23 are switching off from mainstream sports—this is a worrying trend, not just for the betting industry. We don’t believe we have lost this segment forever, but this data tells us we must find new ways to reach this next generation. We are competing for their attention, time, and spending power with so many other forms of entertainment and cannot risk being left behind.
GenZ consumers are swapping 90-minute football matches for streamed events and short-form videos to watch on their own terms within their schedules and time commitments. They are multi-taskers streaming games while simultaneously playing FIFA, dipping in and out of highlights, esports streams while commenting and sharing content on social media. A recent survey found that 83% of GenZs and Millennials say short-form premium content fits well into their schedules. Global mobile viewership is growing 6% annually, outpacing growth other video platforms. The pandemic has accelerated this trend, with younger consumers in 2020 watching mobile content for 33 minutes longer than on TVs.
So, how can we cater to these behaviours and what action do we need to take?
We must understand their motivation. Only then can we start delivering relevant and compelling content they will come back to time and again. We must engage with this new generation, on their terms (digitally–mobile), creating immersive mobile and social experiences combining attractive promotions with playing opportunities—e.g., more targeted, quick-fire pre-match and in-play markets combined with relevant content across live streams and across social media.
The gambling industry’s use of data-driven behavioural insights instantly generates personalised messaging to players as they are watching or streaming events. This also serves to attract more players to both traditional and emerging products (e.g., e-sports), with younger consumers being used to having highly personalised content.
Looking at how media focuses in on star players instead of teams, opportunities can be improved with several types of player markets to bet on, multiplying the fun. It’s no longer just about picking teams—it’s also about picking favourite players and their results.
All this demands a robust and dynamic platform at the heart of operations. Without a fine-tuned, agile system that provides maximum flexibility, scalability, and customisation as well as 24/7 support, achieving the above is impossible.
As a B2B provider, we at EveryMatrix recognised five years ago that old, monolithic platforms would not be fit for purpose. We spent many months listening to our customers and their players, which led to a full modernisation of our systems to provide all the tools to exploit these areas and offer operators an unbeatable experience that appeals directly to younger players, with more than 90,000 live and 75,000 pre-live monthly events, 450+ betting types and more than 125 sports and esports.
Much like the needs of GenZ players who like to be served bespoke content anytime, anywhere and on any device, the key is control. EveryMatrix surveyed the market and discovered that an incredible 95% of sportsbook operators lack full control over their own odds. We wanted to change that and give brands the power to manage their sportsbook, their odds, and their payout levels using a fully automated system and the ability to configure key sportsbook elements any way they want.
EveryMatrix’s mission is simple: to keep things relevant to all players. This requires powerful, flexible, mobile-driven solutions that contain the widest array of products in the industry, along with the most engaging and innovative services.
We must be prepared to offer the products of the future today because if we don’t, these audiences will rapidly turn their attention elsewhere.
Written by Frank Cecchini, Sr. Business Dev. Mgr. Gov’t Markets, EveryMatrix