SB3 would allow betting on collegiate events in tournaments with four or more teams.
SB3 will now go to the House Finance Committee.
SB3 is a bill proposed in the Rhode Island Senate that seeks to allow sports betting on in-state collegiate teams. This would reverse the prohibition on such bets that was put in place when sports betting was legalized in the state in 2018. The bill was filed by Senate President Dominick Ruggerio and has been approved by the Senate, but it still needs to be reviewed by the House Finance Committee before it can become law.
Under SB3, it would be permissible to place bets on in-state collegiate team events in tournaments that involve four or more teams, regardless of whether the tournament takes place in Rhode Island or not. According to the bill’s definition, these tournaments must consist of a series of athletic events that involve at least four collegiate teams and constitute a single unit of competition. Examples of such tournaments include pre-season invitationals, conference tournaments, and NCAA tournaments, including March Madness.
It took SB3 over two months to move through the Senate, with the bill initially presented to the Senate Special Legislation and Veterans Affairs Committee on January 10. Following additional review, the bill was eventually passed through the committee on March 22.
While no specific date has been set for the bill to be heard in the House Finance Committee, the Rhode Island House has a schedule in place that requires bills to leave the committee by April 11 in order to be considered for passage during this session.
Senate President Ruggerio has suggested that the bill will increase state revenues and implied that it is a response to the opening of the sports betting market in Massachusetts, which enables Rhode Island residents to cross the state border to place bets on college sports.
“I think it’s something that will raise revenue next year,” Ruggerio said. “I’m also looking at igaming. I think that will be a substantial revenue generator down the line where people can stay at home and basically do everything similar to what they do on sports betting.”
SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report
In a dynamic year for the iGaming industry, the SOFTSWISS Jackpot Aggregator has released its 2023 report, offering insights into significant trends and achievements.
Notably, the report reveals a staggering 2.6 times increase in bets participating in jackpots, shedding light on the growing appeal of these mechanics among operators and players alike.
A Year of Remarkable Growth
Throughout 2023, bets participating in jackpots experienced consistent quarterly growth, witnessing a remarkable 165% increase from January to December. By the end of the year, the total value of these bets had surged to an impressive 6.396 billion euros. Moreover, the number of jackpot campaigns witnessed a substantial growth of 3.8 times compared to the previous year, totaling 230 campaigns.
Expanding Reach and Impact
One of the standout achievements of 2023 was the expansion of the Jackpot Aggregator’s footprint. The number of brands utilizing its jackpot solution tripled within the year, culminating in over 70 active brands by year-end. This surge in adoption reflects a heightened level of market trust and interest in the product.
Introducing the Prime Jackpot Campaign
A significant milestone of 2023 was the introduction of the Prime Jackpot campaign, which debuted in Q4. This innovative feature garnered considerable attention and interest from players across various casinos. The Prime Jackpot campaign allows operators to participate in shared prize pools, ensuring that rewards are drawn from the collective pool rather than from a specific brand operator. This approach not only offers larger rewards to attract more players but also enhances player engagement and loyalty while optimizing operational costs for operators.
Insights from SOFTSWISS
Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, shared his insights into the year’s achievements. He emphasized the noticeable increase in clients and connected casino brands, as well as the growing volume and value of bets in jackpots. He expressed satisfaction in witnessing clients actively embracing the Jackpot Aggregator and recognizing the added value it brings to their brand operations. The solution empowers operators to provide players with enhanced gaming experiences and more enticing winnings. Client feedback is actively collected and analyzed to ensure clients have access to the most sought-after tools and mechanics.
Looking Ahead to 2024
In 2024, the SOFTSWISS Jackpot Aggregator is set to extend its reach to a wider spectrum of clients. This expansion will be guided by a customized approach, ensuring that each client can tailor the product’s capabilities to meet their specific requirements.
Meet SOFTSWISS at ICE London
The SOFTSWISS Jackpot Aggregator team will be present at ICE London from February 6th to 8th, 2024. They are ready to showcase their latest advancements and engage in discussions with existing and potential clients.
SOFTSWISS is a renowned international iGaming company that offers certified software solutions for managing gambling operations. With a dedicated team of over 2000 employees spread across Malta, Poland, and Georgia, SOFTSWISS holds multiple gaming licenses and provides comprehensive iGaming software solutions. Their diverse product portfolio includes the Online Casino Platform, the Game Aggregator featuring thousands of casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator. In 2013, SOFTSWISS made history by introducing the world’s first Bitcoin-optimized online casino solution.
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