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Nearly 80% of Americans Are Betting on Sports, But Few Understand What Comes After the Win
Sports betting has become a national pastime — and March Madness is one of the biggest moments of the year for casual and committed bettors alike. A new national survey from DIY tax software provider TaxAct reveals that 79% of Americans have placed or plan to place a sports bet, signaling that what was once niche is now firmly mainstream. The survey of 750 U.S. adults paints a clear picture: sports betting is common, frequent, and often motivated by entertainment more than income.
More than half of respondents (54%) said they place bets a few times a year, with another 30% betting weekly during specific sports seasons. A dedicated 7% say they bet every chance they get, suggesting that for some, sports wagering is as much a routine as it is a pastime.
And while winning money is not the only draw. 30% of respondents bet for the thrill of it, and 25% said betting makes watching sports more exciting. Social drivers are strong too: 17% enjoy the competitive aspect, while 12% use betting to connect socially. Only 16% of respondents said their primary goal is earning extra income.
Despite sports betting’s explosive growth, awareness of how it impacts taxes is low — and misconceptions are common. Only 18% of respondents knew that all winnings must be reported to the IRS, and just 25% correctly identified sports betting winnings as taxable income. Even fewer — 10% — were aware that losses can be claimed as an itemized deduction, and 11% knew the tax rate on gambling winnings can reach up to 37%. Only 2% of respondents were able to correctly identify all these statements as true.
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Alexander Kamenetskyi Head of SOFTSWISS Sportsbook
The SOFTSWISS Sportsbook at Five: From MVP to Award-Winning Global B2B Solution
Reading Time: 3 minutes
The SOFTSWISS Sportsbook celebrates its fifth anniversary, marking a major milestone in its journey from MVP to a fully mature, internationally recognised B2B product. Over these five years, the team has achieved standout results, from launching a project in just 14 days to delivering a mobile-first experience that generates over 90% of GGR.
Since its debut in 2020, the SOFTSWISS Sportsbook has expanded its sports and esports catalogue, introduced premium cricket, launched a mobile app, added a customisable betting interface, unique bonuses, and various gamification tools for player engagement and retention. It has also introduced seamless integrations with the SOFTSWISS Game Aggregator and Jackpot Aggregator.
An important milestone was reached ahead of UEFA Euro 2024, when the SOFTSWISS Sportsbook team delivered 22 new projects across 11 casino platforms, including the SOFTSWISS Casino Platform, within a single month. A breakthrough record was also set when the team launched a project in just 14 days from contract signing to the first bet.
The SOFTSWISS Sportsbook is engineered for smooth, platform-agnostic integration, enabling fast rollouts on both proprietary and third-party platforms. Delivering a strong player experience and supporting business growth, the Sportsbook seamlessly integrates into any iGaming operation with flexible launch options to meet diverse needs. Recent updates further enhance its efficiency, including API 2.0 for more scalable integrations and a renewed CMS with deeper content control.
Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, comments: “Five years ago, we set out to build a modern Sportsbook – flexible, scalable, and ready for the future of betting. Today, we have a stable architecture, powerful engagement tools, a strong risk management layer, and a team that knows how to move fast without compromising quality. The product has matured, and we are ready to push forward with even greater ambition.”
Delivering 2,000+ betting markets across 200+ sports and esports, with all Sportradar official leagues included, the Sportsbook supports 100,000+ monthly live events and a mobile-first experience that generates over 90% of GGR. Clients also highlight its intuitive CMS, robust risk management, and 24/7 technical assistance, reinforcing the Sportsbook’s position as a reliable B2B solution.
Anton Eshtokin, CMO of Boomerang Partners, shares: “The SOFTSWISS Sportsbook is an ideal choice for any iGaming operator looking to diversify its portfolio and strengthen its competitive position in the market. On behalf of our entire team, I’d like to congratulate the SOFTSWISS Sportsbook on reaching this remarkable five-year milestone. As a partner, you’ve consistently demonstrated innovation, professionalism, and a deep understanding of the industry’s evolution. We wish you continued growth, bold ideas, and the drive to keep setting new standards in the iGaming market. May the next five years bring even more success stories and breakthroughs that inspire the entire industry.”
The SOFTSWISS Sportsbook’s achievements have been acknowledged across the industry, earning accolades such as Best Online Sportsbook Provider at SiGMA South Asia Awards 2025, Innovative E-sports Product of the Year at SPiCE South Asia Eventus Awards 2024, Best Sports Betting Provider in the Baltics at BSG Awards 2023, and Rising Star in Sports Betting at SBC Awards Latinoamérica 2022.
In 2025, the sports betting solution entered a new phase, focusing on architectural upgrades to support faster feature delivery. The team plans to release a new API Tester in December and is preparing for the upcoming launch of virtual sports. The Sportsbook platform also covered urgent Brazilian and Bulgarian regulatory requirements. These strategic moves will allow the solution to maintain momentum and scale to meet the growing expectations of operators in diverse markets.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 36,700 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post The SOFTSWISS Sportsbook at Five: From MVP to Award-Winning Global B2B Solution appeared first on European Gaming Industry News.
Betinovio
Odds88 integrates award-winning sports data feeds with Betinovio
Reading Time: < 1 minute
Aggregator’s customisable feeds extend sportsbook provider’s offering across 110+ different sports
Sports aggregation platform Odds88 has secured a partnership with sportsbook technology provider Betinovio, expanding the brand’s coverage with unrivalled odds data streams.
As part of the deal, Odds88 will provide its award-winning modular data services to take Betinovio’s offering to the next level. Its operator partners can now gain access to customisable feeds, extensive betting content from more than 110 different sports and 4,000 daily events, and proven BetRank risk management tools.
Odds88 has also delivered its new 50/50 betting product, which promises to attract both casual users and savvy bettors with its low barrier to entry and a new layer of interaction of sports fans.
The aggregator’s data-driven platform uses AI algorithms to analyse behavioural data and tailor odds, promotions and offers to each individual player.
The agreement underpins Odds88’s position as an unparalleled source for trusted and comprehensive odds data, empowering global operators to create their most optimised sportsbooks yet.
Mike Forslund, Head of Sales and Business Development at Odds88, said: “We’re excited to build something truly exceptional in partnership with Betinovio. By combining the provider’s top-class sports betting technology with our unbeaten selection of data, we are introducing a proposition that will reshape the betting experience.
“Betinovio’s partners can now truly raise their game, enabling players to write their own event narratives.”
Marinos Eliazed, CEO at Betinovio, said: “By integrating Odds88’s data feeds, we are future-proofing our technology for operators. Players expect an interface that flexes to their needs and Odds88’s feeds offer endless possibilities for customisation.
“We look forward to seeing what we can create together.”
The post Odds88 integrates award-winning sports data feeds with Betinovio appeared first on European Gaming Industry News.
Amy Brewis Head of Account Management at Realistic Games
Realistic Games unleashes Christmas chaos with new title Wreckmas
Reading Time: 2 minutes
It’s the most magical time of the year, but don’t expect a peaceful Christmas with the release of Realistic Games’ latest blockbuster slot, Wreckmas.
The new 5×3, feature-packed slot brings toppled trees, tangled tinsel and chaotic carols to a family Christmas, along with the chance to hit a 5,000x max win.
Among the features is the Wild Train, which sees a toy train roll in and deliver random multipliers up to 5x on reels two-to-four.
There’s the Christmas Tree Collector, where the Christmas tree collects Wilds via electric shocks, triggering the Jackpot feature at any time.
Land three vinyl scatters across reels one-to-three to trigger Free Spins, where Wilds and the Christmas tree remain active with boosted wins. By collecting music symbols throughout the game to access the Scatter Collection, where only high-pay symbols land, players have the chance to gain two extra spins and a 2x multiplier.
And the Match 3 Jackpot Feature serves up 15 presents to unwrap, each packed with Mini, Minor, Major or Grand Prizes, along with the added chance to boost your winnings.
Despite its warm, claymation-style and festive charm, Wreckmas is anything but gentle. Its high volatility and 96.14% RTP ensures that every spin carries real energy and the chance of big wins.
Amy Brewis, Head of Account Management at Realistic Games, said: “Christmas content can sometimes feel predictable, so we wanted to create something that embraces the season but delivers a fresh, chaotic twist. Wreckmas is everything we love about a Realistic Games title, including inventive features, engaging gameplay and a sense of humour. We’re thrilled to bring something bold and different to operators during one of the busiest periods of the year.”
Wreckmas follows hot on the heels of Art Heist, a 1930s-inspired crime caper slot released by Realistic Games at the end of September. It has already earned fans for its suspenseful gameplay.
It’s been a busy end of the year for Realistic Games, which has secured a host of new operator partners over the past few weeks, including QuinnBet and Bally’s Interactive in the UK and 711 in the Netherlands.
The post Realistic Games unleashes Christmas chaos with new title Wreckmas appeared first on European Gaming Industry News.
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