Back in 2009, I was presenting on a panel at the Canadian Gaming Summit. Along with me on the panel was Mark Davies, one of the original founders of British betting giant Betfair, and a friend who is a professional gambler. After the panel concluded (which tackled the topic of new ways to bet and the future of wagering), the three of us sat down for a chat, writes Dean Towers.
“I think the slot machine days are numbered,” said the professional gambler.
Mark and I were taken aback at first because the bandits were churning revenue everywhere, and with an over-55 market that was growing and getting richer, it seemed unlikely. When you added the fact that young people were also frequenting racinos and casinos, it just didn’t feel right. However, as we all talked more, it made some sense. People, one day, as they usually do, get tired of losing. Casinos were offering tons of entertainment, and there was less of a reason to sit behind a machine all day, and the millennials, well they were different; Mark’s company–millennials were one of his big demographics at Betfair–was proof of that.
We all went on our merry way, thinking it was plausible, but none of us were running out to short the slot machine stocks. Read more
This article originally appeared in the June 12 edition of Thoroughbreddailynews.com’s sister publication, Harness Racing Update
