Every year the gambling industry faces new challenges and one of the most relevant is acquisition and retention of the millennial audience.
The first thing to do in order to understand the issue deeply is to make a clear definition of the concept “millennial”.
So, millennials, or the Y generation, are the people whose first steps in adult life coincided with the boom of digital technologies. Mainly, these people were born between the end of the 80s and the beginning of the 90s. Their main feature is perceiving all the technological benefits as a fact, not as something extra or innovative.
One more term from the title of the article – customization – is the product or service personalization in order to meet clients’ needs. In this case – millennials’ needs.
And the last, but not least, term of the topic – omnichannel. Initially, it was a marketing concept, which meant the integration of differentiated communication channels into a coherent system.
So, why the millennial audience is so important for gambling operators?
Demographical changes or millennials in iGaming
First of all, it should be noted that the millennial audience is important not only for online operators but for land-based gambling establishments’ owners as well. They were the impetus for developing robotic equipment, videopoker and videolottery terminals.
The milestone in acquisition and retention of this audience is the use of innovative technologies, particularly in terms of iGaming payments. It should also be noted that millennials are the biggest generation of consumers in the world.
Peculiarities of attracting millennials
Each aspect of payment systems can be optimized in terms of Y generation’s regional needs. These can be Skrill in France or Sofort in Austria. Bank transfers and digital wallets are such a usual thing nowadays that operators, which do not have this option in their payment system, risk losing a significant part of profit.
If to speak about security, transactions must necessarily be tested for the risk level. This implies special features of payment security systems that verify transactions.
The role of blockchain and AI
Blockchain and iGaming
Despite the fact that this term is already familiar to everyone, the influence of blockchain on various branches of business, especially connected with digital identification and payment systems’ application, continues.
Blockchain peculiarities help in solving a number of issues related to payment systems in gambling, namely, it guarantees security and fair play, ensures anonymous access to the resource, speeds up transactions, offers lower fees.
Artificial Intelligence and iGaming
Interesting fact
Artificial Intelligence uses several dozens of parameters that help to predict clients’ behavior while experienced managers use at most five parameters.
AI can be used in gambling companies in two main directions – marketing and management. This technology allows optimizing routine processes and copes with it much better than humans. For instance, with the help of AI, one can identify the possible outflow of clients in a few minutes and prevent it with the help of an individual approach.
Read more: Best Gambling Payment Providers
