Bettors come in all different forms – from old to younger, they can span a few, very different generations. But betting has also changed a lot over the years, which has inevitably changed the way people interact with the industry. What changes have been made, and how do they affect different generations’ betting habits?
College sports
College culture has stayed largely the same over the past few decades, with college sport leagues always being very relevant, but in the modern age, with people having much better access to the internet, student athletes and college betting have become a much bigger part of the overall culture. This has, of course, changed the way people place bets, with a stronger focus on young athletes’ personalities. Gen Z bettors may be inclined to make bets on their favorite athletes, instead of considering all of the different variables that could affect any particular game.
Of course, that’s not to say that Millennials don’t do this; there will always be exceptions to general trends. But with the newer focus on this, Gen Z bettors are much more likely to engage this way.
The influence of social media
The introduction and subsequent growth of social media platforms have had an effect on everybody’s lifestyle. The way we consume media has changed completely, with entertainment being right at our fingertips at any moment. Of course, this also affects betting culture.
First, and before we determine how this affects betting habits, it’s important to note the difference in how Gen Z and Millennials interact with social media.
Gen Z often engages with more short-form media, through sites such as TikTok or Instagram, chasing the instant dopamine hit that comes with that. Millennials are much more likely to engage with longer-form media, perhaps on platforms like YouTube, or livestreams on Twitch.
From this, it’s tempting to conclude that Gen Z is more likely to make smaller bets more often for that hit of instant gratification, whereas Millennials are more likely to make larger bets less often, for a bigger impact.
What motivates Gen Z to make a bet?
Motivations are likely to vary a lot even within the same generation; there are certainly trends we can look at to determine what the majority of a demographic will do, but there will always be exceptions.
With that being said, we can make an educated guess as to what it is that motivates Gen Z to make bets. Because of the increase in technology and how that has affected the gaming industry, Gen Z is more likely to engage with a betting site in a much more game-focused way. Meaning that, for them, it’s less about the chance to win big and more of a way for them to interact with their favorite sports team.
What motivates Millennials to make a bet?
Millennials can differ somewhat then it comes to their motivation; they are more likely to make calculated bets, studying teams, players and leagues to find which bets are likely to pay off. Instead of betting for a bit of fun, it can be a much more in-depth process.
Gen Z is more concerned with security
Generally, Gen Z is more tech savvy, being more aware of the importance of security features while making bets online. Although these are important factors for any bettor to understand and implement, there are a few things you can do to protect yourself online.
First things first: it’s important to check that the website you’re accessing has an HTTPS connection. What this does is encrypt all data transmissions to and from said website, making it much harder for your data to be intercepted. This is a very quick and easy check to make; all you have to do is look for HTTPS at the beginning of the site’s URL.
Although it may not be the most fun read – and we’ve all neglected to read them before – it is important to look through the terms and conditions of a website in order to make sure you feel safe with how they are handling your data.
It is also worth enabling two-factor authentication when and where you can. What this does is require you to verify every time you log in to your account or make a payment, which could be through a text message, a third-party authentication app or an email. This acts as a great last line of defense
because even if someone has your login info, they still wouldn’t be able to access your account.
Conclusion
For the most part, Gen Z betting habits are somewhat different from Millennial betting habits, whether that be making smaller bets on teams they like or engaging more with social media. But as previously stated, there will always be exceptions to the rule, and it can be hard to put an entire generation into one category. But something that they all have in common is their love of the sport they are betting on.
