Industry News

Consumers optimistic about 2024 financial outlook, as Paysafe research reveals shifts in spending and saving habits

Published

2 years ago

December 11, 2023

After a challenging 2023, nearly half (49%) of consumers worldwide are confident that their financial situation will improve in the coming year. This is according to new research from Paysafe (NYSE: PSFE), which reveals a consumer landscape characterized by a mix of optimism, caution, and a willingness to adapt spending habits.

The research surveyed 14,500 consumers across Europe, North America, and Latin America for Paysafe’s Lost in Transaction 2023: The Disposable Income Report – How consumers are changing their discretionary spending.

Optimism is particularly pronounced among Millennials and Generation Z, with 57% of each group expressing confidence in their near-term financial future. However, consumers acknowledge improvement will require more proactive measures as they manage high living costs and their money differently – with one in two (50%) intending to alter their spending habits. In terms of discretionary spend, the research also indicated that a growing proportion of consumers are prioritising in-home entertainment (23%) more than before, with nearly a third saying they will spend less on clothing (32%).

Conversely, over a third of consumers (37%) admitted to saving less due to rising living costs or not saving at all (18%). Despite this, 47% believe they will be able to save more in the coming year.

In response to the changing financial landscape, more are turning to budgeting tools and apps for assistance. These apps are primarily used to plan how to save as well as how to balance various expenditures and how to better manage discretionary spending. A substantial 55% of respondents said they already use these apps, and 38% plan to increase their reliance on them in 2024.

Furthermore, the research reveals a shift in how consumers plan to allocate their disposable income. Over two-fifths (42%) are opting to spend less on physical goods, instead prioritizing spending on experiences, even as costs rise. This is especially so in Brazil (52%) and the US (51%), but less common in Austria and Germany (29%).

This shift to increasing spend in the experience economy is reflected in consumer attitudes to travel, which should maintain its upward trajectory as 43% are planning on spending more or the same on package holidays, and 41% on flights. While budgets have tightened, spending on online sports bets (18%) and in-game purchases (19%) have remained the same before inflation and the cost-of-living crisis.

Regarding online spending over the past six months, 31% expressed no preference between large and small eCommerce businesses. As consumers navigate an evolving economic environment, businesses, whether they may be small or big, should pay attention to shifting trends and tailor their offerings to meet the changing needs and expectations of their customers.

An ongoing concern in the online shopping experience continues to be security. There is clear reluctance among many to share financial details online, with only 43% comfortable doing so with a small business versus 56% with a large one. Small businesses must resolve these security challenges to take advantage of positive signs for next year given some 42% intend to shop more at local businesses in 2024.

Stake - Best Online Casino & Sports Betting Platform

Commenting on the research, Rob Gatto, Chief Revenue Officer at Paysafe, said: “Consumers will prioritise discretionary spend on goods and experiences that bring them joy. This is a consistent trend that is clearly supported by our research. For businesses, large or small, to capitalise on this, it means making every experience, and every transaction count. By offering a frictionless checkout experience, businesses increase customer experience and loyalty.”

Up Next

Lionel Messi and Inter Miami effect make 2023 most popular MLS season on record

Don't Miss

Scientific Games Launches New South Carolina Education Lottery Players’ Club Rewards Program

Industry News

FanDuel Sports Network Appoints Damon Phillips to Lead South, Southeast, Florida and Sun Regions

Published

2 days ago

August 11, 2025

Niji Narayan

FanDuel Sports Network, owned and operated by Main Street Sports Group, announced that Damon Phillips is joining the Company as Executive Vice President, Team Partnerships, effective August 25. In this role, Phillips will assume oversight of the South, Southeast, Florida and Sun regions, including partnerships with the Atlanta Braves, Atlanta Hawks, Carolina Hurricanes, Charlotte Hornets, Memphis Grizzlies, Miami Heat, Miami Marlins, Nashville Predators, Orlando Magic, and Tampa Bay Rays. He will report to David DeVoe, President of Main Street Sports Group.

“Damon brings an exceptional track record of using digital innovation, audience segmentation, and cross-platform strategies to drive fan growth and engagement. As we continue to invest in our local sports media platform, Damon’s deep leadership experience at both NBC Sports and ESPN, combined with his ability to scale technology-forward solutions for both media companies and team partners, provide a unique perspective as we continue to focus on team-first solutions in a dynamic local media landscape,” said DeVoe.

“I’m thrilled to be joining a company that’s reshaping what local sports media can deliver for fans and partners. FanDuel Sports Network has built a strong foundation and is uniquely positioned to harness the power of local fandom, scale engaged audiences and unlock new growth across its markets. I’m excited to help drive this next chapter,” said Phillips.

Phillips has spent more than three decades at the intersection of sports, media, and technology, including senior leadership roles at NBCUniversal and ESPN. At NBC Sports, he served as Senior Vice President, Digital Media & Emerging Businesses, overseeing NBCSports.com, Sports Betting, Fantasy Sports, the NBC Sports YouTube Channel, Peacock B2B distribution, and multiple podcast and streaming ventures. He led partnerships with DraftKings, BetMGM, Fanatics, and others, and provided strategic direction for the company’s FAST and sports betting content initiatives.

Industry News

Caesars Entertainment Launches Signature American Roulette

Published

2 days ago

August 11, 2025

Niji Narayan

Caesars Entertainment has launched its third fully in-house developed proprietary online casino title: Signature American Roulette. Now live in New Jersey, the game is available across Caesars Palace Online Casino, Caesars Sportsbook & Casino, and Horseshoe Online Casino, bringing another standout addition to the Company’s Signature table game series.

Developed by Empire Creative, Signature American Roulette reflects Caesars’ growing investment in building its own proprietary content, a cornerstone of its online casino strategy aimed at delivering a best-in-class player experience.

“Our in-house content team’s latest addition to the Signature series of table games is a standout for our online casino players. Bringing Signature American Roulette to our iGaming platforms perfectly complements our suite of Caesars-branded table games and further strengthens the robust collection of digital offerings that bring the energy of the casino floor to players’ mobile devices,” said Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital.

Signature American Roulette follows the recent launches of fan-favorite Signature titles, Caesars Palace Signature Multihand Blackjack Surrender in May and Signature Blackjack Surrender in June, both also developed by Empire Creative. Online casino players can enjoy these games across Caesars’ marquee iGaming platforms in New Jersey, Michigan and Ontario, with Caesars Palace Signature Multihand Blackjack Surrender now also available on Caesars Palace Online Casino in Pennsylvania.

“Signature American Roulette continues our commitment to delivering immersive and player-centric table games that align with our many iconic brands. From player-selectable wheel spin direction and speed to our intuitive favorite bets system, every detail is crafted to boost engagement. With seamless play in portrait or landscape modes and picture-in-picture win evaluations, we’re bringing the thrill of the casino straight to players’ fingertips,” said Scott Krell, Senior Director of Game Products and Head of Studio at Caesars Digital.

Those 21 and older in New Jersey can play Signature American Roulette by downloading the Caesars Palace Online Casino, Horseshoe Online Casino or Caesars Sportsbook & Casino apps on iOS or Android, or visiting the platforms on desktop. These platforms are also available in Pennsylvania, Michigan, Ontario, and West Virginia, offering a dynamic online casino experience that features Caesars-branded games, timeless casino classics, and unique titles from top game providers. Each platform offers a dynamic online casino experience with a range of unique games from top providers, Caesars-branded games, and timeless casino classics. Additionally, each platform integrates Caesars Rewards, the Company’s industry-leading loyalty program allowing players in the US to earn Caesars Rewards Credits redeemable for unforgettable experiences at more than 50 world-class Caesars Rewards destinations across North America.

Industry News

Maryland Casinos Generate $165.7 Million in Gaming Revenue During July

Published

6 days ago

August 7, 2025

Niji Narayan

Maryland’s six casinos combined to generate $165,661,894 in revenue from slot machines and table games during July 2025. The statewide total was down $4,159,416 (-2.5%) compared to July 2024.

Casino gaming contributions to the state during July 2025 totaled $71,857,827, a decrease of $305,727 (-0.4%) compared to July 2024. The July 2025 contributions included $51,742,064 to the Education Trust Fund, a decrease of $272,892 (-0.5%) compared to July 2024.

Casino gaming revenues also support the communities and jurisdictions where the casinos are located, Maryland’s horse racing industry, and small, minority- and women-owned businesses.

Maryland’s six privately owned casinos offer both slot machines and table games: MGM National Harbor in Prince George’s County; Live! Casino & Hotel in Anne Arundel County; Horseshoe Casino Baltimore in Baltimore City; Ocean Downs Casino in Worcester County; Hollywood Casino Perryville in Cecil County; and Rocky Gap Casino Resort in Allegany County.

The gaming revenue totals for July 2025 were as follows:

MGM National Harbor (2261 slot machines, 208 table games)

$68,587,339 in July 2025, a decrease of $3,396,384 (-4.7%) from July 2024

Live! Casino & Hotel (3832 slot machines, 179 table games)

$59,702,771 in July 2025, a decrease of $2,860,124 (-4.6%) from July 2024

Horseshoe Casino (1365 slot machines, 115 table games)

$14,415,536 in July 2025, an increase of $1,098,302 (8.2%) from July 2024

Ocean Downs Casino (900 slot machines, 18 table games)

$10,236,754 in July 2025, an increase of $615,672 (6.4%) from July 2024

Hollywood Casino (731 slot machines, 23 table games)

$7,622,642 in July 2025, an increase of $325,372 (4.5%) from July 2024

Rocky Gap Casino (630 slot machines, 12 table games)