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 tournament’s first round, Tipico debuted its March Madness competition, in which bettors could accrue points based on their betslip’s 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.
“The flurry of activity we’ve 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,” said Andre Zammit, VP of Sportsbook, Tipico US. “The 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.”
Additionally, parlay bets may have been the secret sauce to Tipico’s 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 women’s tournament game with the highest interest was the championship event between (3) LSU and (2) Iowa, with an 385% larger handle than the top women’s game from March Madness 2022. The men’s tournament game with the highest interest in betting was the (5) Miami– (4) Connecticut Final Four match-up.
“This 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.” continues Zammit. “More bettors are placing an increased number of complex, multi-leg parlay bets. Tipico’s March Madness competition and promotions rewarded this boldness, improving our platform and tailoring our promotions and competition structure to match customer behavior.”
The winner of Tipico’s 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 Patrick’s Day 2023 Party at Flannagan’s 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 “Better Bettor” campaign, encouraging responsible gambling to teach bettors about the terminology and strategies within the sports betting world, including parlays, teasers, and “the spread.”
EGT is excitedly awaiting its participation in this year’s SAGSE Latam. “We have prepared a very strong selection of products that I am confident our guests will highly appreciate. Don’t miss the opportunity to visit us on March 19th and 20th and learn more about our fascinating offerings,” said Christian Graffigna, Director of EGT Argentina.
Among the bestseller solutions on display will be the General Series slot cabinets. Including stunning outlooks with frameless HD displays and numerous ergonomic features for maximum comfort during play, these machines will certainly attract visitors’ attention. The VIP models will further enrich the player experience thanks to the comfortable multimedia chairs, providing full control over the main game functions.
The attendees will also be able to see and test some of the most successful jackpot products from EGT’s portfolio. Among them will be the absolute bestseller Bell Link with its 2 multigames Bell Link 1 and 2, as well as Bell Link Boost. They will present a perfect blend of brand-new games and some of the company’s most popular slot titles, which in combination with the well-known jackpot will offer players attractive bonuses and great entertainment. The option to connect their highest Grand and Major levels with Gods & Kings Link will add even more thrill to the game.
The Asian-themed Sheng Sheng Bu Xi jackpot and the General Series multigames will complement the slot variety at the booth.
Featuring 6 HD touchscreen monitors, the G R6 C roulette from the company’s ETG portfolio will also demonstrate to the guests its eye-catching outlook and enormous flexibility, allowing the addition of American roulette.
“SAGSE Latam is among the most important and authoritative exhibitions in the industry,” commented Mr. Graffigna. “I am confident that our participation in it will help us expand and strengthen our presence in the region and Argentina in particular, providing us with the opportunity to meet with local key players. We will be waiting for them at booth 154 to show them how we can further improve their business performance with our high-potential innovative developments.”
Latest News
RG24seven Virtual Training Collaborates with AI Experts to Expand Responsible Gaming Courses
RG24seven Virtual Training, the industry-leading and free video-based training platform for Tribal and commercial gaming employees, is pleased to offer an exclusive Artificial Intelligence (AI) course presented by Better Change and Mindway AI. The course was first announced during the premiere episode of TALK 24 highlighting the future of AI in Responsible Gaming. The new course will introduce gambling industry employees to the role AI can play in Responsible Gaming initiatives and the gambling industry as a whole.
Wendy Anderson, CEO of RG24seven Virtual Training, said, “Our new AI course aims to enhance RG24seven’s existing Responsible Gaming and Safer Gambling content, introducing new perspectives and insight that align with the latest developments in the field. As part of the fast-growing software company operating science-based solutions, Niamh Gallagher from Mindway AI, presents these courses with a deep understanding of AI.”
Gallagher added, “Promoting responsible gambling is a shared responsibility; our commitment to this training is rooted in collaboration. The gaming industry must be aware of the ethical responsibilities that come with the advancements in AI and ensure that it is used transparently, with clear and ethical guidelines in place to support Responsible Gambling behaviors. Simply taking this course helps gaming employees understand the basics of AI and the critical role it can play when used responsibly.”
Victoria Reed, CEO of Better Change and Strategic Advisor for RG24seven, concluded, “The future of AI in the gaming industry is still being written. It’s not just about the technology itself but it’s about how we choose to use it. AI in the hands of people who are committed to ethics and responsibility, has the potential to be a game-changer for player protection and industry integrity. It’s a future we’re working hard to build and it’s one we believe will benefit everyone involved, which is why we are proud to offer this new course in both the U.S. and the U.K.”
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