Gambling companies struggling to pick the millennial wallet

Online gaming companies may have better luck in attracting millennials if they develop the right products, though research shows that casinos may struggle to target this key demographic. More than 50 percent of Asia’s population will fall within the 18-35 age bracket by 2020, and will hold a combined income of more than $5.4 trillion by 2024, according to studies. However, there is a belief that millennials are becoming more selective about where and how they spend their money, with gambling, more often than not, left off the priorities list. In a Millennial Entertainment Preferences Study, released in 2016 by the Stockton University, U.S.-based millennials reported spending only 8.5 percent of their total “going out” budget on gambling. This is in stark contrast when compared to non-millennials, which spent around 23.5 percent of their budget on games of chance. Instead, millennials reported a large portion of their entertainment budget...

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