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2023 March Madness

TIPICO SPORTSBOOK ANNOUNCES 50% FASTER WITHDRAWAL PROCESS TO MEET FLURRY OF MARCH MADNESS ACTIVITY, SIGNIFICANT CHANGES IN BETTOR BEHAVIOR

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2 years ago

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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.

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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.”

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2023 March Madness

Tipico Unveils 2023 March Madness Competition

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2 years ago

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March 16, 2023

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Tipico, a leading global sportsbook operator, announced its in-app competition and suite of promotions for the 2023 March Madness tournament.

Tipico will host a contest within its mobile app that will last the length of the March Madness tournament, awarding grand prizes of one year of free bets to one first place winner, nine runners up, and state scoring leaders. Additionally, weekly top performing players will earn exclusive rewards after each tournament round. Bettors can participate in the contest by adhering to the following criteria and scoring system:

  • Place a $20 minimum wager to qualify for participation; bettors can place an unlimited number of bets throughout the duration of the contest.
  • If a bet wins and is “+” odds, bettor accrues points equal to the odds (ex. Winning Bet at +350 odds scores 350 Points).
  • If a bet wins and is “-” odds between, bettor accrues 20 points (ex. Winning Bet at -150 odds scores 20 Points).
  • If any bet loses or a bet with odds lower than -200 wins, bettor accrues 0 points.

Tipico will post a national leaderboard to be updated after each round of the tournament based on the scoring results of the previous round. At the conclusion of the tournament, the leaderboard’s highest scorer will receive a grand prize of $100 Weekly Bet Credits in the Tipico app for one calendar year. Additionally, nine runners up and individual state winners in Ohio, Iowa, New Jersey, and Colorado will each win $20 Weekly Bet Credits for one calendar year.

Furthermore, Tipico will provide a select number of its VIP user base with a mix of rewards including free bets and deposit matches at the outset of the tournament. VIPs will be identified as users who have demonstrated a commitment to NCAAB betting with Tipico throughout the 2022-23 season. As the tournament advances, engaged users will be rewarded with $20 NCAAM protected bets to be leveraged in the following rounds.

“March Madness is a celebration unlike any other, one that combines unparalleled competition, underdog storylines, and drama that reminds us why we love college sports. We are incredibly proud to unveil this contest and promotions to provide fans with a superior sportsbook experience as the college basketball season culminates. While the odds of creating a ‘perfect bracket’ are next to none, game and prop bet odds on Tipico allow bettors to fully personalize their tournament-watching experience,” Adrian Vella, CEO of Tipico, said.

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Tipico has also introduced “The Shot,” a March Madness Tournament streaming show featuring legendary Duke University NCAA Champion and NBA All-Star Christian Laettner. The show will feature game previews and analysis, as Laettner will break down predictions alongside host and sports media personality Lauren Jbara.

To complement its streaming content, the Ohio fan community will also have exclusive opportunities to engage with Tipico through several upcoming events featuring on-site incentive offers at Rhinegeist Brewery in Cincinnati, Lower.com Field in Columbus, and TopGolf Cleveland, among others throughout the state.

“We are thrilled to provide college basketball fans with more reasons to be excited about this year’s ‘Big Dance’. Our team has worked tirelessly to create a one-of-a-kind sportsbook experience that mirrors the exhilarating, quick-hitting nature of the NCAA Tournament and adds new layers of entertainment and suspense to this storied event,” David Paschkes, Chief Commercial Officer of Tipico, said.

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