The perceived risk and return, curiosity, and control analysis of online gambling intention among Gen Z and Millennials using extended UTAUT3

The rapid ascent of online casino gaming has become a game changer for the gambling industry in the Philippines. This trend poses challenges for traditional casinos in the Philippines, requiring adaptation to attract younger players for business sustainability. Moreover, there is a lack of studies when it comes to diversity in culture, initiation and maintenance, as well as analysis on individual stimulation and triggers for gambling, which this study aimed to fill. This study analyzed key factors influencing online gambling intentions among Generation Z and Millennials using higher-order Structural Equation Modeling with the extended higher-order reflective construct of the Unified Theory of Acceptance and Use of Technology 3 (UTAUT3) framework to effectively explained online gambling behavior. Testing the causal relationship among 408 valid responses using the SMART-PLS v4 software, it was seen that performance and effort expectancy, habit, social influence, hedonic motivation, personal innovativeness, price value, and facilitating conditions showed significant relationships with online gambling behavioral intentions. It has been presented that control have no significant relationship on online gambling behavioral intention of consumers, revealing that respondents may have no self or financial control while using online gambling platforms. Moreover, curiosity alone is not a strong motivator for consumers to participate in online gambling activities. Based on the results, the respondents do not perceive curiosity as a primary driver for their intent to engage in online gambling activities. This study provides valuable theoretical insights into the motivations and perceptions driving online gambling among younger generations, offering a comprehensive understanding of the market dynamics and potential policy implications for regulating online gambling activities. Moreover, practical implications were created for developers to clearly depict and align behavioral intention for online gambling.