After three weeks of our Why Millennials Love EquiLottery series, are we really telling you this research points to Millennials being like every generation before them when it comes to lottery appeal? In a word, yes. Lottery is hardly a new concept, dating back to the Han Dynasty in 205 BC funding projects such as the Great Wall of China. It has an innately human appeal.
What about horse racing? This sport has appeal for Millennials as well, just like every generation before it since…4500 BC. The core of a sport that has been a part of the human experience since the beginnings of the Egyptian Empire didn’t suddenly lose all interest over the last 20 years. Millennials love horse racing too.
But they don’t love either of these industries as they have always been conducted. Millennials have grown up in one of the major economic revolutions in the history of the world and it’s made them a generation that wants to engage in the human experience in a much different way than preceding generations. The research we’ve presented over the last month shows that both lottery and horse racing simply need new packaging and they can successfully tap into this generation.
This is great news for all of us because it’s a problem we can solve for two industries so important to our current economies.
Millennials haven’t turned away from the idea of television programming. They just want it streaming over Netflix as opposed to NBC. They haven’t stopped communicating with their friends and family. They just do it via text and social media instead of landline phones. And they haven’t stopped using household products such as laundry detergent, they just want to make sure these products are as environmentally friendly as possible. No one would say, “Millennials don’t use landlines, therefore they must not want to communicate anymore” and yet when it comes to lottery and horse racing it seems easier to believe Millennials have somehow evolved beyond millenniums of human behavior.
It’s far more logical to see Millennials as having the same wants and desires as previous generations. They just experience life in a different packaging.
It’s why a product such as EquiLottery, which delivers live event excitement through a mobile app, creates lottery and horse racing appeal for Millennials. At a rate of 74%, this age group said they would purchase a lottery ticket based on a live horse race and when they make this purchase, they are volume buyers, purchasing between 2 and 5 tickets per race 71% of the time.
From that 74% of Millennials that would purchase an EquiLottery ticket, 80% would play at least monthly, 56% would play every 2-3 weeks, 35% would engage with our product weekly and 20% would make EquiLottery a part of their routine on a nearly daily basis. That’s serious appeal and shows the power of effective packaging for a generation which grew up during this unprecedented Technology Revolution.
But of course, this revolution has influenced all living generations. No one can escape the impact technology has had on our lives and the rapidly adapting world around us.
That’s why our Generation X numbers are right in line with Millennials. They record a net positive EquiLottery experience score of 85% compared to the 88% score from Millennials. They have a favorable opinion of our prize offerings 83% of the time, one percentage point more than Millennials. And when it comes to purchasing a ticket, Gen Xers even show separation from Millennials with 80% saying they would buy a ticket versus 74% from the younger generation.
Many Gen Xers were young enough to adopt these technologies natively and have come of age professionally in a world where adapting to this new way of doing things is essential to their survival. And because they have more expendable income, they are more likely to make purchases on products like lottery. They may be familiar with the old way of doing things but they are open minded to this brave new world.
Even Baby Boomers tested well despite EquiLottery being a much different way to look at lottery for a generation that came of age during the modern lottery boom. They may be more used to the old way of playing lottery and horse racing, but they still recorded a net positive experience score of 72%. They were drawn to the prize structure at a 65% clip and 69% of this generation indicated they would purchase our tickets. Boomers are slower adopters of new technology but as companies such as Facebook and Uber can attest, once they get it, this generation is accepting of new packaging for longstanding industries.
EquiLottery is a new way of looking at lottery. It infuses the excitement and authenticity of a live event such as horse racing into a lottery experience whose packaging has needed some tweaking to stay with the times.
It delivers a sport that has struggled to find its place in a rapidly changing world through a convenient and relevant presentation. And it simplifies the process so that players can easily connect to the excitement of the horse racing experience.
The last month of research findings show we’re on the cusp of creating a positive disruption in two industries that are important revenue generators and job creators for their states and provinces. It’s time to work together to lift both boats and create something players of all generations clearly say they will love.
Let’s play EquiLottery.