3 Biggest Trends Changing the Casino Industry
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Trends can be as unpredictable as gas prices. Just a single, well-timed video can upend social media for weeks at a time. It would make sense, then, that following the moods of the internet is a fool’s errand – but responding to trends (or not) can decide a business’s popularity.
An ironic meme isn’t going to destroy a corporation overnight. Still, the way companies handle changes in their customers’ behavior, such as how they pay for things, levels of disposable income, and their taste, is in the manager’s handbook.
On paper, it might seem like the casino industry has never had to worry about how players like their entertainment served, given its longevity. However, the transition from metal boxes and paper cards to an almost entirely digital setup didn’t happen overnight, having taken about two hundred years to complete.
Work vs. Life Balance
The most significant change in consumer habits involves the mobile phone. On its page about the best-voted online casinos, the CASINOenquirer website notes that modern life “demands flexibility”. The writer adds that time spent playing games has to fit around other tasks, such as working.
The latter point inevitably comes up in conversations about work-life balance.
In the US, 63% of people interviewed by FlexJobs suggested that a better work-life balance was preferable over more money. This has shifted control of the debate from employers to workers and allowed for benefits like flexible hours.
While the good news is that slot and table games can be played in such short rounds that they don’t have to take priority (compare that to the hours-long requirements for movies and TV shows), this necessity may be fading as people manage to squeeze more life out of their day.
Mobile-Friendly
Targeting smartphone users can also extend a company’s marketing reach. An estimated 97% of Americans and Canadians own mobile phones, meaning a mobile-first operator can reach millions of people without too much hassle.
The limits of technology bind all the previous drivers, but it’s an increasingly academic concern. The advent of HTML5 means that many web applications are mobile-friendly out of the box.
Live gaming fans have arguably been the biggest beneficiaries of this more adaptable internet. Live versions of blackjack, roulette, and gameshows offer a real-time video feed on the user’s mobile phone. Users can place bets and interact with the dealer, like at a brick-and-mortar casino.
In essence, mobile internet now has the same capabilities as its desktop-bound counterpart.
Economic Benefits
All of the above innovations owe their existence to an expanding market. Casino gaming is an increasingly popular hobby in the US. The American Gaming Association (AGA) claims that 49% of Americans engaged in gambling in 2023, with a quarter of those (26%) at a physical casino.
An understanding of the economic benefits of sports betting, casino gaming, and similar activities is also keeping interest in gambling high – 71% of those polled by the AGA appreciated the financial impact of casino gaming on society.
Trends and consumer habits drive change in all business sectors. The willingness to respond to them determines their longevity.
