There are a lot of different ways people define ‘millennials’, but regardless of your metric one thing you can’t deny is that more and more millennials are becoming old enough to gamble. As with everything else, they’re choosing to do it online and on mobile a whole bunch more than any past generation. This greater shift towards online and mobile that millennials represent presents a while host of questions for developers and operators who are all trying to anticipate how younger players will want to gambling in the future.
One of the big concerns is trying to work out which kinds of depositing options millennial players will be choosing to use. One might expect the most forward thinking options like mobile phone bill deposits to be the obvious choice, but are they really? We thought we’d give our industry friends a bit of a helping hand by running your through reasons for and against mobile billing being the big thing among millennials.
Why Millennials Are More Likely To Use Phone Bill Deposits
It’s Fully Mobile
If there’s one thing everyone knows millennials love, it’s things which are mobile. This is the generation which has had mobile phones in their pockets from when they came out of the womb, and who ruin every dinner time by spending it staring at their phone.
Seeing as mobile phone bill deposits require only that you have a mobile phone handy, it would make perfect sense that this would be the payment option which most appeals
‘But I want it now!’ is the rallying cry of the millennial generation. Having grown up with internet access making everything more speedy and convenient as time goes by, millennials have certain expectations about getting things on demand and instantly, which is exactly what phone bill deposits offer.
As soon as you respond to the confirmation SMS and send your money on its way, the deposit will turn up instantly in your casino account – how could this appeal any more to millennials?
It Doesn’t Require Accounts
Related to the fact that it only requires a phone to make a pay by phone bill deposit is the fact that no accounts or sign in are required to use this deposit option. There’s no need to sign up to anything, or to remember login details. You’re free to use pay by phone deposits whenever you want, without worrying about having to look after an account.
Why Millennials Are Less Likely To Use Phone Bill Deposits
Who Has SMS Allowance These Days?
The use of phone bill deposits is predicated on the idea that the network charges you for a premium SMS, and you pay it on your bill at the end of the month. The only problem with that is a little thing called a data-only contract.
More than ever before, people (and especially millennials) are choosing to save money by foregoing calls and texts as part of their phone contract and instead only have data in their plan. If this trend continues, they simply won’t have the choice of using pay by phone deposits.
They’ll Get Annoyed By Limits
It’s not a secret that millennials are in a very real sense the ‘on demand’ generation. Everything is expected to be immediate and unlimited, and while phone bill deposits certainly deliver on the immediate, they fall woefully short when it comes to unlimited. It’s an annoying fact that when you deposit by phone bill you’re going to be limited to only £10 per deposit, and only up to £30 in a day. This will seriously put the brakes on the uptake of this deposit method by millennials who are perhaps not used to being told ‘no’.
There Are Newer Options On The Way
While it might seem to us now that mobile phone bill deposits sit at the cutting edge of banking technology at casinos, it probably won’t be all that long until it’s totally superseded by new methods which come on the scene. While integrated e-wallet services like Apple Pay and Android Pay have been slow to get off the ground in terms of uptake at mobile casinos, they are a harbinger of the fact that payment options are changing, and when a more attractive one rears its head, it’ll be millennials who are first on-board.