Age is not a factor in gambling except for minors, the reason why very old people are very much active in gambling over there is because of poverty too, if there were good means of making a living, some of those old people would prefer to sit at home and rest theor nerves instead of going to betting centers to place bet in expectation to make some profits that they can survive on.
There is a layer of players who are retired and still work, it turns out as if they have savings and they earn almost 2 salaries per month. At least in my country these people are the richest, I don't know about other countries. So I think that they are just bored or they want to have fun this way, but the main thing is not to get carried away, because building strategies can be completely different from that of young minds, and also weaker risk control. I want to say that age is not an obstacle to playing, but they can also lose all their money, of course, so it is better not to relax.
In my country, if you visit the betting centers, majority of people you will see younger people and if you see some old men, it's either unemployed people who only have skills are only go to work based on contract and if there's no jobs that they held at the moment, they can stay for some weeks or months without work and to while away time, they visit the betting centers to try luck and also easy off their depression. Most old people here that has a job or are retired doesn't gamble.