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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

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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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Week 46/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has welcomed another title into its Wildlife Series, Majestic Bison. Set in the Wild West, Majestic Bison surrounds players in a landscape populated with wild wolves, elegant eagles, fearsome snakes and formidable goats. A stripped back soundtrack captures the essence of the Wild West, with banjos and harmonicas immersing players in the action as they hunt for gold.

Spinomenal introduces Majestic Bison title

 

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PG Soft, a world-class digital mobile games company, is celebrating the magic of the Rio de Janeiro Carnival with the release of its new slot, Rio Fantasia. A young dancer named Isabella is the star of the show as players join in the rhythm and passion of one of the world’s most spectacular parties. Rio Fantasia is a 3-reel, 3-row video slot featuring Stacked Wild symbols, multipliers, and respin until win.

Join in the carnival celebrations with PG Soft’s Rio Fantasia

 

Hölle Games has released Jumpin’ Jacks, a new Classic title featuring a special Duplicating Wilds mechanic. This 5×3, 15 payline slot has a theme of Halloween harvest, with scarecrows, pumpkins, corn, crows and a creepy midnight sky completing the picture. The atmosphere is there to match, with a cosy yet somewhat spooky soundtrack.

JUMPIN’ JACKS HITS HÖLLE THIS HALLOWEEN

 

Belatra Games, the specialist online slots developer, has served up Cafe Pin-Up, a slot that whisks players away to a vibrant 1950s diner, where retro glamour meets thrilling gameplay. Players take a seat inside a charming cafe, where pin-up girls are on hand to deliver delicious dishes in a raucous atmosphere created by a jukebox playing toe-tapping tunes. The game is presented in a 5×4 grid with 20 paylines with the Pin-Up Girl Wild symbol playing the key role.

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Belatra serves up delicious new release Cafe Pin-Up

 

New from Peter & Sons comes Muddy Waters, a game that will send your Geiger counter up to 11. This high-volatility and highly radioactive slot comes packed with symbol multipliers, power-ups and a unique fishing mechanic. Muddy Waters riffs on the popular fishing-slot genre, but since this is the weird and wonderful world of Peter & Sons, it gets flipped on its head, because this game is about reeling in radioactive fish.

Peter & Sons’ Radioactive Fishing Game ‘Muddy Waters’ Hits November 14

 

Relax Gaming, the iGaming aggregator and provider of unique content, is getting players into the festive spirit with its latest release, Money Sleigh, a Christmas-themed slot guaranteed to deliver stocking-filled fun and the chance to unwrap big wins. Santa and his team of loyal helpers are ready to guide players through this exciting holiday adventure, with the potential to win up to 10,000x their stake.

Relax Gaming brings Christmas cheer with the release of feature-packed Money Sleigh

 

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AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES

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Zitro, a leading company in the gaming industry, has signed a collaboration agreement with Grupo OSGA, a business group committed to promoting the employment of people with disabilities. Grupo OSGA offers job opportunities to people with disabilities and supports their professional development in inclusive and accessible environments.

Through this alliance, Grupo OSGA will provide Zitro with a parcel and documentation service between its offices, optimizing Zitro’s operational efficiency and strengthening its social commitment to creating a more inclusive work environment.

At Zitro, we firmly believe in the power of diversity as a driver of growth and development. This collaboration with Grupo OSGA not only enriches our company but also reinforces our commitment to contributing to a fairer and more inclusive society,” said Albert Zorrilla, Managing Director of Zitro for Spain.

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“The collaboration with a prestigious international company like Zitro not only constitutes recognition of the work that Grupo OSGA has been carrying out but also contributes to the generation of real opportunities for people with disabilities to achieve effective and stable integration in the labor market,” said Oscar Galilea, President of Grupo Osga.

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EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers

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BetHub and EGT Digital have started their successful partnership, as a result of which the leading Bulgarian operator is now using the iGaming platform X-Nave. Its 4 main modules: CRM Engine, Sport product, Gaming Aggregator and Payment Gateway, enable the betting site to effectively manage all online gaming business verticals and further improve its performance.

CRM Engine provides a wide range of player management tools and bonus features, allowing the operator to create more personalized offerings for its customers, based on their preferences and behavior.

Through X-Nave’s Sport product BetHub will enrich even more the sport content it offers.

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The Payment Gateway gives access to numerous payment methods and thanks to the Gaming Aggregator EGT Digital’s slot games are already at the disposal of the website’s visitors. The top-performing titles from Bell Link, Clover Chance, High Cash, Single Progressive Jackpot, as well as the multiplayer game xRide quickly gained popularity among BetHub’s customers.

“We are very glad with our collaboration with EGT Digital so far,” commented Kiril Naldzhiev, CEO at BetHub. “The platform has made the management of our business much easier, and the company’s gaming content has shown impressive results that have not only met but exceeded our expectations.”

Tsvetomira Drumeva, Head of Sales at EGT Digital, also gave a positive evaluation to the cooperation. She said: “Partnering with a prominent operator like BetHub is very valuable for us, as it gives us the opportunity to demonstrate the enormous potential of our developments and consolidate our status as a leader in the local market. I am confident that this is the beginning of a very successful collaboration that will bring a lot of positives to both companies and the players themselves.”

The post EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers appeared first on European Gaming Industry News.

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