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Sports Betting in Rhode Island Promising Despite Decreased Income in April

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Rhode Island’s income from sports betting dropped by 24.7% in April, totaling $3.2 million in state-earned revenue. In March, the industry had recorded an upsurge in betting activity thanks to March Madness. In turn, the state earned $3.9 million in the moth, a significant increase from the $1.5 million income total recorded in February.

While the revenue recorded from sports betting has been inconsistent this year, it shows a growth curve compared to the same period last year.

Increased Betting Handle

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Sports punters in Rhode Island have been spending more at betting companies this year compared to last year. In January, the players wagered $39.8 million. This was a 74.6% surge compared to the amount wagered in December last year.

On the other hand, it was a 48% growth compared to the amount wagered in January last year. Interestingly, $21.9 million of the nearly $40M gambled in Rhode Island in January came from mobile betting.

In February, the betting handle decreased to $34.1 million. But this was still a 21.8% increase compared to the $28.1 million gambled in February 2020. In March, bettors swung back to action with the hopes of profiting from March Madness.

The result was that some $38.6 million was wagered in Rhode Island during the month. Online sports betting accounted for $16.1 million of the wagered amount. Compared to 2020, the betting handle in March was a 331.1% rise.

Rhode Island sports betting, and you can learn more from here, took a sharp drop in betting handle in April. The total wagered amount amounted to $29 million, which was a 24.7% decline. All the same, this was a growth of 4,811% compared to the same month in 2020.

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Soaring Revenues

Along with climbing betting handle numbers, the revenues from sports betting in Rhode Island have also been climbing. The state earned $3.7 million from the industry in January—an increase of $400,000 compared to December.

More than half of the amount–$2.1 million—came from mobile betting while $1.6 million came from in-person betting companies. Unfortunately, this income fell by 33% in the following month to stand at $1.5 million.

February was such a poor month for the sports betting industry in Rhode Island that it didn’t match the figures collected the same month last year. Luckily, the industry bounced back in March.

Total income jumped from $1.5 million in February to $4 million, a surge of 155.6%. Compared to March last year, this was a growth rate of 372.4%. As we mentioned, revenues dropped by 20.3% in April to stand at $3.2 million. But it was a whopping 11,472% rise compared to the $27,000 collected by the state in April last year.

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How to Join the Party

Sports betting has a bright future in Rhode Island. It might be experiencing inconsistencies in revenue and betting handles presently. But over time, especially post-pandemic days, Rhode Island could climb to become one of the biggest betting markets in the country.

That said, joining the sports betting party in Rhode Island is easy:

  • Choose a Betting Partner

There are two ways to bet on sports in Rhode Island. You can join the state’s official mobile betting website—it has a sportsbook supplied by William Hill and IGT. Or you could register an in-person account at the Twin River Casino n Lincoln or the Twin River Tiverton Casino.

Evidently, the variety of betting companies in Rhode Island is small. What’s more, the available betting operators are either controlled by the state or tribes. While this isn’t a bad thing, it reduces competition, which works efficiently in improving the quality of services offered.

All the same, pick an option. Over 50% of Rhode Island bettors prefer to use the betting app. It’s more convenient, safe and saves you from the hassle of leaving your house every time you want to place a bet.

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  • Add Money to your Account

If you plan to bet at one of the two casinos that provide sports betting, you don’t really need to create an account. Instead, the only requirement is a form of identification and money to bet. The only time you could need an account is if you want to benefit from the casinos’ reward programs.

On the official Rhode Island app, you can deposit from $10 to $10,000 through a variety of payment methods like Visa, MasterCard and PayPal. With money in your account, you can wager on thousands of betting markets in the US and around the world.

You can bet on all the major leagues: NFL, NBA, MLB, NHL and the MLS. You could also bet on international sports leagues like the English Premier League Gamers Arenas. What’s more betting on college sports is allowed except where colleges based in RI are involved.

  • Do Your Research

Betting on sports is simple. You can pick a game and back one of two teams. But this doesn’t guarantee you will win. Winning in sports betting requires extensive research. You have to look at every team’s squad, stats, form and play styles.

Some people even pay for betting tips but this isn’t always recommended. Tipsters, the people who sell betting tips, do the same type of match analyses you can do to bet and win. So, if you have to use betting tips, do your research and compare with professionals.

  • Take Profits and Manage Risks

After you place a bet and win, you have the choice of betting again or taking profit. Most people prefer to take profit. However, there’s no harm in re-investing some of the money back, especially if your aim is to compound your profits.

All the same, have a risk-management program in place. You don’t want to spend more than you can afford. And you don’t want to lose all your profits. Create a budget to guide you on the amount of money to spend on every bet, every day.

If you exceed your daily or weekly budget, quit betting. Likewise, take profits after you have a goal. This way, you’ll enjoy sports betting more than if you kept wagering your money until you lost it.

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Balkans

SYNOT Enters the Bulgarian Market

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SYNOT Group has successfully realized its first installation of land-based products in Bulgaria. The popular MAGIC BALL LINK jackpot system has been launched at IMPERIA Gaming Clubs in the city of Plovdiv, with three installations (a total of 12 Eclipse FL-32 machines) at three different locations.

“I would like to thank to IMPERIA Gaming Clubs for the trust and the opportunity to show the best performing products of SYNOT to the player’s audience in Bulgaria. I strongly believe that this is the beginning of a fruitful partnership which will grow in time,” said Stanislav Stanev, International Business Development Director of SYNOT Group.

MAGIC BALL LINK is a progressive jackpot system that has already gained popularity in several markets due to its attractiveness and performance. Bulgarian players can now enjoy eight exciting linked games that combine a entertaining gaming experience with the potential for significant winnings. This installation follows shortly after SYNOT Group recently obtained a license for the Bulgarian market, paving the way for further growth and expansion in the region.

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“We are happy to welcome SYNOT slot machines on our floors, and we really believe that SYNOT products will supplement our diverse offering to the players and will become an integral part of all our locations,” said Gavril Chetrafilov, Owner of IMPERIA Gaming Clubs.

The post SYNOT Enters the Bulgarian Market appeared first on European Gaming Industry News.

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Compliance Updates

UKGC Publishes Update on Financial Risk Assessments Pilot

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The UK Gambling Commission (UKGC) has published a further update on the ongoing pilot of financial risk assessments.

Written by the Director of Major Policy Projects who is leading the pilot, Helen Rhodes, the update provides information on Stage two of the pilot and the issues being explored in the final stages of the pilot.

“Financial risk assessments are a proposed way of identifying high-spending remote gambling customers who may be in financial difficulties, in order to help support them,” the Commission’s latest update on the finance risk check pilot reads.

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“This is not the same as ‘affordability checks’ – the Commission does not have any regulatory requirements for affordability checks and is not proposing any. Financial risk assessments would be a much more targeted way of identifying potentially financially vulnerable customers. They would not affect a customer’s credit score if they were introduced in the future.”

Key Points Covered by the Update

The UKGC says that the pilot has given it a better understanding about the financial risk profile who met the thresholds. These customers were found to be between twice and four times more likely to have a debt management programme than those who didn’t meet the thresholds, and more between twice and five times more likely to have a default in the last 12 months.

The most remarkable is the fact that the data has reinforced the UKGC’s view that the finance risk checks will be as non-intrusive and frictionless as possible. According to the UKGC’s estimations, only 0.1% of customers would be subject to a non-frictionless assessment.

It also says that 95% of assessments carried out in stage one were possible in a frictionless matter, with this figure rising to 97% in stage two, where the total number of risk assessments carried out across three credit reference agencies rose from 860,000 to 1.7 million.

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The analysis phase of stage three of the pilot is expected to continue into the summer, after which the UKGC will move into stage four.

NatCen is continuing to work as the UKGC’s evaluation partner on this pilot and post-pilot analysis work.

Director of Major Policy Projects, Helen Rhodes, said: “These further findings from the pilot have helped us understand the extent that assessments could be conducted in a frictionless manner.

“Building on our staged approach to the pilot, we will now further explore data consistency across credit reference agencies, as well as how to support operators to identify the severity of financial difficulties that a customer may be experiencing and how they could support these customers.”

The post UKGC Publishes Update on Financial Risk Assessments Pilot appeared first on European Gaming Industry News.

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Compliance Updates

Irish Politician Philip McGuigan Calls for Urgent Action on Gambling Harm Treatment

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Sinn Féin MLA Philip McGuigan, Chair of The All Party Group on Reducing Harm Related to Gambling, has called for urgent government action following the publication of a report presenting the findings from the 2024 Gambling Prevalence Survey, commissioned by Department for Communities, which reveals alarming levels of gambling-related harm in the north.

Speaking in the Assembly, McGuigan said what is perhaps most alarming from the survey’s findings, is the low number of people seeking help. Only 1% of those who gamble reported accessing support or information from gambling or mental health services.

He said: “The Minister of Health must act without delay to commission dedicated gambling treatment services. With existing addiction services already under pressure, additional funding is essential. The findings of this survey point to a serious gap in provision for addiction treatment in the north. The need is clearly there, but people aren’t getting the help they need.”

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According to the “Prevalence of Gambling in Northern Ireland 2024” report, 3% of the population are experiencing severe gambling-related harms, while a further 10% are considered low or moderate risk gamblers. Shockingly, approximately one in seven adults who gambled in the past year admitted to betting more than they could afford to lose. Additionally, one in eight reported needing to gamble increasing amounts to achieve the same level of excitement, and nearly one in 12 said gambling had caused health problems such as stress and anxiety.

McGuigan said: “These figures are deeply concerning and underscore the serious social and public health implications of gambling addiction. This isn’t just about individuals losing money; it’s about broken families, damaged relationships, and communities struggling with the fallout of gambling harms.”

The survey also found that 10% of people affected by gambling had experienced the breakdown of a close relationship due to someone’s gambling, highlighting the wider ripple effects of the issue.

To address the funding gap, McGuigan is also calling on the Minister for Communities to bring forward the promised levy on land-based gambling operators without delay.

“Calling the Minister for Communities to introduce a levy is a fair and necessary step. The industry profiting from gambling must contribute to the prevention and treatment of gambling harm,” he said.

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McGuigan also criticised the British Government for excluding Northern Ireland from the proceeds of the statutory levy on gambling operators introduced in Britain on 6 April. This levy is intended to fund research, prevention and treatment of gambling-related harm.

“Online gambling operators licensed by Britain’s Gambling Commission are freely advertising and profiting here in the North. Yet, our population is completely excluded from the financial benefits of the statutory gambling levy on these operators. That is unacceptable. Executive Ministers must demand that the North receives its fair share of this funding,” McGuigan said.

The survey further revealed that 66% of respondents believe there are too many gambling advertisements, and 71% support a watershed for gambling ads on TV and radio.

McGuigan is now urging the Secretary of State for Culture, Media and Sport, Lisa Nandy MP, to use her powers to implement tighter advertising restrictions, including a TV and radio watershed to limit exposure to gambling content during peak viewing times.

“The public clearly wants action. The evidence is there. We must act now to protect individuals and families from the devastating consequences of gambling addiction,” he said.

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The post Irish Politician Philip McGuigan Calls for Urgent Action on Gambling Harm Treatment appeared first on European Gaming Industry News.

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