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Nearly Six out of 10 Consumers Betting $500 or More Per Month Online Are Millennials

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The gambling industry has experienced explosive growth over the past six years, bringing sportsbooks and casinos into mainstream U.S. culture. As those online and land-based betting options become ubiquitous, it is increasingly important for operators to sort out the high-value from the high-risk bettors.

Millennials continue to drive the highest levels of participation across gaming channels. They account for 57% of high-value online bettors, those spending $500 or more per month. And while high-value bettors are disproportionately high-income earners with the best credit scores however, they are also more likely to be delinquent for paying bills, loans and child support.

These and several other insights about consumers’ engagement in betting were garnered from an online survey of 3,000 adults in late April to early May 2024, and reported in the latest TransUnion (NYSE: TRU) U.S. Betting Report.

“As we’ve found in prior reports, the majority of betting consumers can afford this form of entertainment,” said Declan Raines, head of TransUnion’s gaming business. “In fact, having a significant bump in income was the primary correlating factor to whether consumers bet, regardless of income level. This suggests most consumers only wager what they can well afford to lose.”

Differences between online and land-based bettors

Consumers who bet online and in land-based casinos appear to have a financial advantage, compared to non-bettors. For example, 20% of online bettors and 18% of land-based bettors indicated their incomes increased a lot within the past three months—compared to just 4% of non-bettors. Similarly, 55% of online bettors and 58% of land-based bettors have good or excellent credit scores, while only 50% of non-bettors said the same.

While income and credit scores were higher among bettors, patterns indicating poor financial management also emerged for this cohort. This was more pronounced among high-value bettors.

Heightened scrutiny ahead

As the market matures, operators can anticipate increased scrutiny from media, with questions focused on the perceived social drawbacks of widespread betting. Other gaming markets such as the UK and Australia have experienced similar cycles leading to increased regulatory requirements around responsible gaming.

In fact, US state regulators are already evaluating how best to improve consumer protections, while striking the difficult balance between state tax revenues and the risk of pushing consumers to unregulated and offshore providers.

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Operators may likely face increased requirements to assess responsible gaming risk for their customers. To do this, additional data sources that provide insights into consumer financial health will need to be considered to ensure proactive identification.

“Operators are keenly aware of the need to balance commercial performance with player protections,” said Raines. “The crucial next step will be to demonstrate proactive measures that protect consumers to regulators and consumer advocates. This can be achieved by leveraging their vast first party data, combined with consumer insights, which together can help them proactively identify high risk players without introducing unnecessary friction to the majority of consumers who play within their means.”

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Betson Appoints Todd Cravens as SVP of Gaming Division

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Betson Enterprises, a division of H. Betti Industries Inc., has appointed Todd Cravens as Senior Vice President of the Gaming Division, effective January 6, 2025. In this role, Todd will oversee the strategic growth and operations of Betson’s gaming division, focusing on expanding distributive gaming initiatives, strengthening customer and supplier relationships, and driving innovation within the industry. Todd will be based out of Betson’s Henderson, NV office and will join the company’s executive leadership team.

Todd brings a wealth of experience in gaming and amusements, including his previous tenure as CEO and President of Galaxy Gaming. With a proven track record in organizational leadership, business development, and strategic execution, Mr. Cravens is well-positioned to lead Betson’s gaming division in its next phase of growth. His focus on customers, product and team align with Betson’s commitment to delivering innovative solutions and superior service to its customers.

“We are thrilled to welcome Todd back to the Betson Gaming team working alongside Rick Kirby. His deep industry knowledge, leadership, and strategic mindset will be instrumental in driving the growth of our gaming division and expanding our footprint in the gaming industry, as well as the overall Betson business,” said Bob Geschine, President of H. Betti Industries.

Commenting on his new role, Todd said: “I can’t wait to get back to work and look forward to rejoining the Betson team. I look forward to working closely with the talented Betson crew to deliver on the company’s strategic objectives, focus on our customers, strengthen our partnerships, and explore new opportunities to innovate in the gaming market and beyond.”

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Scientific Games Scores Deal with NBA for Lottery Scratch Games in US

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Scientific Games continues to light up the company’s licensed properties portfolio with another big win. National Basketball Association (NBA)-licensed instant scratch games are now available to U.S. lotteries through Scientific Games, bringing the fan-passionate brand of professional basketball to their players.

As part of the new, multi-year agreement, Scientific Games will work with U.S. lotteries to help create custom second-chance promotions and experiential prizes to amplify their NBA-themed scratch games. Lotteries can also work with local NBA teams in their states to create team-specific games through sponsorships.

The Massachusetts Lottery, perennially ranked No. 1 worldwide for instant scratch game sales, is the first to feature an NBA-branded scratcher under the Scientific Games agreement. The Lottery launched an NBA Champion Boston Celtics-themed game on November 19 with the 2024-25 NBA season in full swing. With total sales of $1.6 billion since the introduction of its first sports-themed ticket in 2006, the Mass Lottery is also ranked No. 1 in the U.S. for retail sales in this category.

“The Celtics are one of the most iconic franchises in all of sports and we are thrilled to commemorate their most recent championship with a ticket that offers their passionate fanbase the opportunity to win up to one million dollars and a variety of experiential and merchandise prizes,” said Mark William Bracken, Executive Director of the Massachusetts State Lottery.

The NBA has a rich tradition of game-changing plays, storied rivalries and team dynasties. It is the most innovative league in sports, helping drive the growth of the sport around the globe. The NBA comprises 30 teams in North America, 29 based in major U.S. cities and one in Canada.

Tina Hoover, VP Licensing for Scientific Games, said: “We are excited to welcome the NBA back into the lottery category. The NBA has a loyal and passionate fanbase, which makes the brand perfect for lottery games that appeal to players in communities across a state. Each game can be customized to a lottery’s home market. Best of all, sales from the games will benefit the lottery’s good cause programs in those same communities.”

In fiscal year 2024, licensed branded games created by Scientific Games for North American lotteries represented USD $2.6 billion in retail sales.

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Seminole Hard Rock Hotel & Casino Tampa Marks $2 Billion Milestone in Jackpots Given Away in 2024

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A lucky guest – Richard B. – won a $100,000 Mercedes AMG GLE 53 SUV as part of a celebration of $2 billion in jackpots paid out so far in 2024 by Seminole Hard Rock Hotel & Casino Tampa.

Richard was playing a Dollar Storm – Caribbean Gold $0.25 progressive slot machine with a $18.75 bet. He won $1680 on the machine, which pushed the casino’s total slots payout for 2024 to over $2 billion. The win earned him the new Mercedes in recognition of surpassing the slot payout milestone.

“This is absolutely amazing. I stopped in to play for just a minute, hit a jackpot, and suddenly I was whisked away to find out I won a car. I’ve been playing at Hard Rocks forever, but this is the first time I’ve ever won a car,” said the winner.

In addition to Richard’s good fortune, 881 guests playing with their Unity Card each received $25 in Bonus Free Play. A total of $22,025 was awarded.

“It’s exciting that we have paid out more than $2 billion in jackpots. We are always dedicated to providing exceptional guest experiences, while ensuring that each visit to Seminole Hard Rock Tampa is truly unforgettable,” said Steve Bonner, President of Seminole Hard Rock Hotel & Casino Tampa.

2024 is the third year Seminole Hard Rock Tampa has paid out more than $2 billion in jackpots.

Seminole Hard Rock Tampa has paid out over 723,505 jackpots of $1200 or more so far this year. That’s almost two jackpots for every person who lives in the City of Tampa.

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