Millennials have low interest in Gambling
The Millennials are defined as those born between 1980 and 2000 A.D. They constitute the largest group of the population, over 83 million or 25% of the U.S. population. The next largest group are the Baby Boomers at 75 million or 22.6% of the population. This smallish survey involving 300 Millennials and 150 non-millennials from 22 states with a preponderance of participants from New Jersey, New York and Pennsylvania. The study was paid for by the Borgata, Tropicana Casino, Resorts Casino Hotel, Harrah’s Resort and the Casino Reinvestment Development Authority. The research team was from Stockton University in New Jersey.
The results include that only 21% Millennials think gambling is important, while 42% of other age groups think it is. Also, Millennials spend 8.5% of their money on gambling, while Non-millennials spend 23.5% of their money on gambling. Only 44% of Millennials play slots while 72% of Non-millennials play slots. A nearly equal percentage of the two groups play table games (57-58%). The study provided the casinos sponsoring it with suggestions for increasing play by Millennials, with the main factors being the presence of an element of skill in the slots and the capacity for group play.
With no interest in the morality of enticing more to play and lose, this study offers the casinos help in growing participation by a specific age group. This is called targeting. There is no concern about addiction or other byproducts of increased gambling. In the late 1800s we called the owners of exploitative factories that paid pitiful wages “Robber Barons.” Hardly anyone is concerned about exploitation currently, and as a result we have a new set of Robber Barons who own the casinos.