Press Releases
TIPICO SPORTSBOOK ANNOUNCES 50% FASTER WITHDRAWAL PROCESS TO MEET FLURRY OF MARCH MADNESS ACTIVITY, SIGNIFICANT CHANGES IN BETTOR BEHAVIOR
Tipico Sportsbook, a leading sports betting operator, today announced that since the outset of the 2023 March Madness tournament, it has increased the speed of its withdrawal process from an average of 8 hours to an average of 4 hours for cash outs, one of the fastest withdrawal process speeds in the sports betting industry.
Prior to the tournamentâs first round, Tipico debuted its March Madness competition, in which bettors could accrue points based on their betslipâs odds of winning. With a 6.5x increase in active customers, a 2.9x increase in handle, and a 7.2x increase in processed bet slips throughout the tournament compared to the 2022 tournament, Tipico improved its withdrawal process to meet the increased demand that the sportsbook witnessed throughout March Madness.
âThe flurry of activity weâve seen highlights the shift in consumer betting behavior that has made it increasingly crucial for our platform to exceed consumer expectations and expedite the withdrawal process,â said Andre Zammit, VP of Sportsbook, Tipico US. âThe 2023 March Madness tournament has put our capabilities to the test, and we can now confidently say that Tipico has one of the fastest withdrawal speeds in the industry. We look forward to fully leveraging these capabilities to engage and excite new and existing consumers in 2023 and beyond.â
Additionally, parlay bets may have been the secret sauce to Tipicoâs March Madness competition. Throughout the tournament, Tipico bettors placed 25% of their handle on parlays, a 10% increase compared to 2022 March Madness. Additionally, the most exciting win for a customer was a 15-selection parlay, which turned a $10 stake into a $6,100 win.
The womenâs tournament game with the highest interest was the championship event between (3) LSU and (2) Iowa, with an 385% larger handle than the top womenâs game from March Madness 2022. The menâs tournament game with the highest interest in betting was the (5) Miamiâ (4) Connecticut Final Four match-up.
âThis notable increase and shift in betting behavior is a testament not only to our expanded platform, but also to the idea that the 2023 March Madness bettor was more educated and bolder than ever.â continues Zammit. âMore bettors are placing an increased number of complex, multi-leg parlay bets. Tipicoâs March Madness competition and promotions rewarded this boldness, improving our platform and tailoring our promotions and competition structure to match customer behavior.â
The winner of Tipicoâs March Madness competition was Clay C. from Ohio, who won one full year of bet credits alongside 9 runners up and state scoring leaders. The winner placed over 110 winning betslips with a total of $10,000 in handle at nearly 3 to 1 odds.
In addition to the competition, Tipico hosted several experiential events in collaboration with local and national partners, including the iHeart Saint Patrickâs Day 2023 Party at Flannaganâs in Dublin, Ohio and a first of its kind all-day March Madness party at the Huntington Field Club at Lower.com Field, home of the Columbus Crew. It also recently launched the âBetter Bettorâ campaign, encouraging responsible gambling to teach bettors about the terminology and strategies within the sports betting world, including parlays, teasers, and “the spread.”
Latest News
THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Irelandâs NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unitâs partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unitâs activity in the Americas.
This new base will be located at Bank of Irelandâs NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unitâs Head of Business Development & Account Management Mark OâHare, who has relocated to New York and will be responsible for The Unitâs commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: âThese are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
âThis will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
âThis is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. Weâre looking forward to mapping out our future in the region with our team on the ground there.
âI would like to thank Mark OâHare for making the move to New York, and Iâm sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.â
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
âWe look forward to hosting The Unit and wish them well in their endeavors to grow their business here.â
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Latest News
Golden Matrix Group to Participate in the 2025 ICR Conference
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
Canada
Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
âScratch & Win tickets can make great stocking stuffers for the adults in your life, but theyâre not for kids,â said Ryan McCarthy, BCLCâs Director of Player Health. âThe research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.â
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
âWith the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,â said Dr. Luke Clark, Director for Gambling Research at UBC. âOur research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.â
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
âOpen and honest conversations are crucial when it comes to navigating childhood exposure to gambling,â said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kidsâ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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