How is Online Sports Betting Changing Casino Demographics in 2023?
Online sports betting is changing the demographics of online casinos. Despite their differences, the two industries have an exciting relationship. Online sports betting has always been legal in most countries, but it was only recently legalized in Canada and the United States. As soon as playing at casino online sites became legal, online casinos started looking at their new customer base with curiosity: would this new group of gamblers become regulars at their brick-and-mortar properties? What does this mean for casinos? How will they capitalize on this new opportunity?
Convenience As One of the Greatest Benefits
Online sports betting is changing the casino demographic – and that is a fact. One of the biggest reasons is that it’s easier to bet on websites/mobile apps than in person. When you visit a casino, you have to drive there and park your car, then walk through the building until you find where they’re accepting bets. Land-based visitors must pay in cash, which can also be inconvenient. Moreover, beginners will not have any doubts when playing online for the first time despite being inexperienced.
Online sports betting eliminates all these issues:
- No need to dress up
- You don’t have to wait in lines
- It doesn’t require cash
- You don’t need to park
- No need to go anywhere other than where you are!
The Skill Gap Is Narrower
Online sports betting is a great way to get into the action. The skill gap is narrower in online sports betting, which means you can play at your own pace and still have a chance at making money. This is also why casinos are more comfortable with online sports betting than land-based casinos—it’s easier to monitor, control, and regulate the bet if you’re not dealing with real people walking through your doors day after day.
Online Sports Betting Offers Multiple Options
Online casinos offer more options for placing bets than their land-based counterparts do. They allow players to place bets on an infinite number of outcomes within each event and multiple events simultaneously. And all of this without breaking any laws or running afoul of regulations set forth by governments around the globe— a feat that wasn’t possible before because of a lack of technology!
Betting on eSports and Niche Sports Markets More Easily
As the sports betting industry grows, more people want to bet on niche gambling markets and eSports. These bets were only available at land-based casinos and didn’t appear in online sportsbooks. Now that gambling sites have become legal in many countries, you can bet on basketball games from China or rugby matches from England without leaving your house! Moreover, the younger generation loves betting on eSports, and this relatively new market is bringing yet another group of youngsters to online casinos.
Younger Generations Prefer to Play Online
Online casinos and sportsbooks provide many more opportunities for younger generations than land-based ones. These sites offer a wide range of games and leagues, which makes it easy for youth to find options that fit their needs and interests.
Youth are also more likely to prefer mobile devices than older generations, so they can access sports betting apps on their smartphones or tablets wherever they go—making it even easier for them to wager without leaving home!
Operators’ Analysis and Opinions
While reporting earnings, a few operators mentioned that their digital offerings had attracted younger players who are now visiting their brick-and-mortar properties. Take a look:
BetMGM
According to CEO Bill Hornbuckle, about 40% of new members of MGM Resorts’ loyalty program come from BetMGM. A little over 15% of BetMGM’s customers are from MGM.
He also reported that online and retail casino revenue doubled in the third quarter.
Caesars
Caesars CEO Tom Reeg summarized the brand’s digital business contribution to casinos.
He claims that digitally sourced customers are contributing more than $200 million (the digit that keeps on growing) to brick-and-mortar casinos.
PENN
Online gambling is also affecting PENN Entertainment, particularly among the younger demographics. It was reported that PENN’s average theoretical win per day for customers aged 21-34 increased by 10%. It compares the third quarter of 2021 to the third quarter of 2022.
According to the same statistic, there was a 3% increase for 34-44-year-olds. The older demographic was much smaller compared to that. In 2017, the two youngest groups generated about 10% of revenue. Today, they account for close to 20% of revenue.
Casinos also expect to see an uptick in female players as more females play sports and watch sports on TV. And there’s another demographic trend worth noting: casinos will be seeing an increase in international visitors as the global economy continues to improve and more people travel internationally, allowing them to try online gambling for the first time or return after a long absence.
To Sum Up
The bottom line? It’s time for casino operators to embrace the fact that online sports betting is here to stay. Younger audiences are more comfortable playing on their phones or tablets than visiting a brick-and-mortar property. The skill gap is narrower in online sports betting, meaning players don’t need to be high rollers to enjoy this form of gambling. And, finally: there are just so many more sports markets available at an online casino than at any physical location! If you want your business to attract new players and keep them coming back again and again, then it’s time to start thinking about adopting an ‘online first’ mindset.
