The online gambling industry has grown rapidly over the past few years, and the boom looks set to continue for the foreseeable future.
Analysts have predicted that annual global revenues in the sector could top $65 billion by the end of 2021, with further increases expected over the next few years.
The internet has undoubtedly been a Godsend for gambling companies, allowing them to attract a new demographic of players to their sites.
One example of this is the significant rise in the number of female gamblers, with women accounting for around 45 percent of the people who gamble online.
Playing slots is amongst the most popular pursuits for women, although the reasoning behind that may surprise people. Read on as we look at why slots are so popular with females.
Debunking the Slots Myth
A study published by researchers at Oregon State University-Cascades debunked the theory that slot machines mainly attracted poor, uneducated senior citizens.
It was found that the most common profile of a slot player was a female homeowner aged between 55 and 60, with at least some college education and an annual household income of over $55,000.
Co-author Sandy Chen surveyed more than 1,000 people to find out why they like slot machines and what characteristics they share.
She discovered that slot players fell naturally into four groups, which she categorised as utilitarian, excitement, multi-purpose and relaxation gambling seekers.
Utilitarian gamblers are merely looking for something to do, while excitement gamblers play slots for the thrill of winning a jackpot.
Multi-purpose gamblers tend to be younger and are motivated by a mix of having fun and winning money, while relaxation gamblers play slots for socialisation or to relieve stress.
“There are very different motivations for playing slot machines,” said Chen, “So casinos may be making a mistake when they take a one-size-fits-all approach to marketing or creating an atmosphere within their facility. They may be better off with a segmentation approach.
“The study also suggests some differences, in general, between male and female slot players. Women are more into functional motives – the social experience, the excitement and the fun – whereas men tend to look more at the financial rewards. They want to make money.”
Operators Adjust Their Strategy
Gambling operators have ploughed significant resources into gaining a better understanding of what makes their customers tick.
Major slot developers such as International Game Technology (IGT) and WMS Gaming (WMS) have also conducted extensive research into what draws people into playing slots.
They have collectively used the findings to target their marketing campaigns for slots more effectively – a point that is demonstrated by how firms make their sites more appealing to women.
Female-themed games, placement of women in advertising campaigns and use of female-oriented marketing blog content are amongst the factors that have attracted more females to slots.
Industry expert Stowe Shoemaker, who worked on the Oregon State study alongside Chen and associate professor Dina Marie Zemke of UNLV, says that gambling operators have had to adjust their marketing strategies in order to attract a different demographic of people to their sites.
“Slot players are different in terms of gambling motivation,” said Shoemaker. “Marketers must develop unique promotional messages to appeal to different groups of players.
“In the old days, games were just developed and put out on floor. Over the last 10 to 12 years, more and more companies are investing more and more in consumer research to understand the reasons for gambling and designing slot machines.”
Shifting Diversity Trends in Slots
Like many other industries, the online gambling sector has historically been guilty of significant gender imbalance in the boardroom.
Less than a quarter of casino gaming companies had female directors in 2019, while just 17% of CEOs of iGaming brands were women.
The industry has previously presented itself, and been viewed as, a male-dominated environment, but the landscape is slowly beginning to change.
For instance, software supplier GAN appointed Karen Flores as its new chief financial officer earlier this year, while Claire Milne became interim chairman at Playtech at the company’s AGM in May.
Gambling organizations in Japan, Belgium, France and Sweden have also made significant female appointments during 2020.
The increased prevalence of females in prominent roles in the gambling industry has helped to drive changes in the way games like slots are marketed.
A great example of this is Swedish developer NetEnt, who were already on a path towards greater diversity when Therese Hillman was appointed as CEO back in 2018.
She has overseen a turnaround in the company’s fortunes by implementing a strategy that has incorporated a more significant number of slots targeted at women.
Hillman plays down talk that she is solely responsible for the change in tack, but admits that it is a policy that NetEnt will continue to pursue in the future.
“I think our culture and high ambition when it comes to diversity and equality is not tied to one person,” she said.
“It was important to us before and it will continue to be important going forward. This is something that our whole company invest a lot of thoughts and work into.”
The Future of Online Slots & Women
Slots are hugely popular with women and gambling operators are expected to continue to tailor their offering towards female players in the future.
Developers will be tasked with creating new titles that not only attract new players to sites, but also keep existing customers engaged.
The possibilities offered by virtual reality (VR) technology could have a significant impact on how women play slots games over the next few years.
VR tech has the power to transport users into ‘real-life’ settings, a factor that will appeal to females who enjoy the social element of online gambling.
This could make the industry even more attractive to females, creating the possibility of further rises in the number of women who play slots online.
