Connect with us
Prague Gaming & TECH Summit 2024
geocomply:-super-bowl-lviii-weekend-volumes-increase-22%-year-over-year as-united-states-legal-online-betting-grows geocomply:-super-bowl-lviii-weekend-volumes-increase-22%-year-over-year as-united-states-legal-online-betting-grows

Anna Sainsbury

GeoComply: Super Bowl LVIII Weekend Volumes Increase 22% Year-Over-Year as United States Legal Online Betting Grows

Published

on

 

GeoComply, a global leader in advanced anti-fraud and geolocation compliance technologies, has announced a 22.3 percent increase in geolocation checks throughout Super Bowl weekend, surpassing last year’s figures. This sustained growth underscores an important shift in the United States towards a state-regulated, taxed and secure betting environment, enabling more Americans to place legal bets on the year’s most anticipated football game. GeoComply analyzed its data across 28 US states*, Washington DC and Puerto Rico with legal, online sports betting during Super Bowl LVIII weekend.

“The continued transition to the legal market set the stage for a historic first Super Bowl in Las Vegas and the record-breaking results we saw did not disappoint. We are proud to help foster the growth of a regulated industry that puts accountability, security and player protection at the forefront,” the founder and Chief Executive Officer for GeoComply, Anna Sainsbury, said. “Compliance drives our mission and with that commitment we strive to help our customers reliably and responsibly expand the player funnel and boost their businesses. Every year the legal market grows is good news for consumers and states and bad news for illegal offshore sportsbooks that become marginalized.”

Additional Key Insights from Super Bowl LVIII Include:

  • Throughout Super Bowl weekend, GeoComply saw a total of 8.5 million active accounts across states where online sports betting is legal. This represents a 15 percent increase over last year’s Super Bowl
  • During the two weeks leading up to the Super Bowl, GeoComply saw more than 1.77 million new users sign up for legal online betting accounts
  • Since the start of the 2023/2024 NFL season through the Super Bowl, GeoComply customers have added more than 13.7 million new accounts, a 28 percent increase from last season
  • Minutes before kick-off, GeoComply saw a massive spike in traffic totaling 14.75 thousand transactions per second (TPS) immediately. This was the highest TPS ever recorded on GeoComply’s systems, nearly doubling the last Super Bowl’s peak
  • Tale of two Kansas cities: Chiefs fans on both sides of the Kansas City border want to support their team. GeoComply’s real-time pin drop map from Super Bowl Sunday shows legal activity in Kansas, while just across the street in Missouri they are blocked from betting

(GeoComply will be releasing additional Super Bowl data insights later this week.)

2024-SuperBowl-LVIII-Weekend-Active-Account-Increase.png

GeoComply’s technology is critical for the online sports betting industry. Its platform uses more than 800 data points to accurately confirm that players are located in a state where sports betting is legal before placing a bet. Super Bowl LVIII represents many new growth milestones for the legal online sports betting industry but it also represents a significant technical achievement that ensures that players have a fantastic experience and regulators have the proper assurances that all bets placed fall within the appropriate state borders.

Advertisement

“GeoComply’s technology brings the perfect blend of geolocation precision mixed with a rock-solid player experience,” Sainsbury said. “These two aspects of our platform are critical to the industry’s success as a whole and we designed the solution to meet these massive spikes in demand without compromising on either of them. Innovation is at the core of our brand and we will continue to improve on our technology with the expectation that by the next Super Bowl, more states and more players will join the masses.”

*GeoComply’s Super Bowl data is based on GeoComply’s aggregated geolocation transactions for its United States sportsbook customers in regulated states including Massachusetts, Kentucky, Maine, Vermont and Puerto Rico, all new regulated markets since last year’s Super Bowl. The data does not include Florida. Unless otherwise indicated, data for this release was collected starting at 12am ET on February 10 and continuing through the completion of the Super Bowl on February 11.

GeoComply has a unique view of the United States online sports betting market as the trusted geolocation supplier for many of the regulated online sports betting operators in the United States. GeoComply’s data does not purport to be definitive or represent the entire United States market but is intended to provide general insights into relevant market dynamics.

This press release has not been reviewed, authorized, or endorsed by the National Football League (NFL).

Advertisement

Anna Sainsbury

GeoComply releases NFL Week One Report showing increased demand for legal sports betting

Published

on

geocomply-releases-nfl-week-one-report-showing-increased-demand-for-legal-sports-betting

 

GeoComply Solutions Inc. (“GeoComply”), a leading provider of cutting-edge anti-fraud and geolocation solutions, today released From the Sidelines to the Mainstream, a report analyzing betting data from its systems during the first week of the 2023 NFL season.

The report reveals 242.3 million geolocation transactions, a 56% increase compared to data from the first week of the 2022 NFL season, and a 40% increase in betting accounts across GeoComply’s US online sportsbook customers.

GeoComply Co-Founder and CEO Anna Sainsbury commented: “Consumer awareness around the security and fairness of legal online betting platforms has played a pivotal role in the responsible growth of the industry. While the increase in our transaction volume emphasizes the appetite for regulated online sports betting, our data also accentuates an urgent call to action. States without regulated online sports betting should get off the legalization sidelines and unlock their ability to protect consumers and generate significant tax revenue.”

Insights found in the From the Sidelines to the Mainstream report include:

Advertisement
  • Find out which touchdown sparked the most traffic over the opening week
  • Numbers of geolocation transactions, new and active accounts in MD, MA and OH across GeoComply’s online sportsbook customers in these states
  • New sports wagering accounts registered across GeoComply’s U.S. online sportsbook customers throughout regulated states
  • Analysis of devices used to bet, such as iOS, Android, or PC
  • Numbers of geolocation transactions and would-be bettors coming from select states that have not legalized
  • Examples of illegal operators marketing to consumers in states that have not legalized

Today, approximately 47% of the U.S. population has access to legal and regulated online sports betting, a figure that will be boosted to 51% when North Carolina, Maine, Vermont, and Kentucky launch regulated betting as expected in the coming months. However, that still leaves almost half of the country unprotected.

The report reveals significant consumer demand in six states where lawmakers are considering bills to legalize and regulate sports betting next year – Alabama, Georgia, Minnesota, Missouri, Mississippi, and South Carolina.

The high number of consumers attempting to access legal sites in other states illustrates the appetite for legal sports betting and underscores a compelling argument for the legalization and regulation of sports betting in these states. Since the 2018 expansion of legal sports betting, states have collected nearly $4 billion in aggregate tax revenue.

The data in the report was collected from September 3 through September 10, 2023 and is based on GeoComply’s aggregated geolocation transactions for its US sportsbook customers in regulated states. Geolocation checks are recorded at various stages of a user engaging with a legal sportsbook, including registering an account, logging in and placing a bet. GeoComply’s data does not purport to be definitive or represent the entire regulated US market but is intended to provide general insights into relevant market dynamics.

Continue Reading

Anna Sainsbury

GeoComply appoints Lindsey Drake as CFO and Kelly Schaefer as CHRO to help drive continued growth and innovation

Published

on

geocomply-appoints-lindsey-drake-as-cfo-and-kelly-schaefer-as-chro-to-help-drive-continued-growth-and-innovation

 

GeoComply Solutions Inc. (“GeoComply”), a leading provider of cutting-edge anti-fraud and geolocation solutions, is pleased to announce the appointment of two seasoned executives to its leadership team. Lindsey Drake has been appointed as the Chief Financial Officer (CFO) and Kelly Schaefer joins as the Chief Human Resources Officer (CHRO).

Drake and Schaefer will both play a crucial role in shaping GeoComply’s continued growth strategies as the company expands. In 2023 alone, GeoComply announced minority investments from Norwest Venture Partners and Arctos Sports Partners and their first acquisition of an innovative technology and solutions platform, OneComply. Each of these events has had a significant impact on GeoComply’s ability to expand into new verticals and accelerate innovation to meet the needs of customers.

As CFO, Lindsey Drake will oversee all financial operations at GeoComply, including financial planning, budgeting, and capital management. With an extensive background in finance and a proven track record of driving growth and profitability, Drake brings a wealth of experience to her position. Her strategic financial acumen and deep understanding of the technology industry will be instrumental in driving GeoComply’s financial success as the company continues its rapid expansion.

As CHRO, Kelly Schaefer will spearhead GeoComply’s human resources strategy, focusing on talent acquisition, development, and engagement. With a strong background in HR leadership and a passion for fostering a positive and inclusive work culture, Schaefer is well-equipped to lead GeoComply’s people-centric initiatives. Her expertise in talent management, organizational development, and employee engagement will be invaluable in attracting top talent and nurturing a high-performing workforce that drives GeoComply’s innovation and success.

Advertisement

The appointments of Drake and Schaefer means that women will account for over 60 percent of GeoComply’s leadership team. The company recently won the Diversity & Inclusion Award at the EGR North America Awards, and its commitment to diversity continues to set it apart in the technology industry.

“We are thrilled to welcome Lindsey and Kelly to the GeoComply team,” said Anna Sainsbury, GeoComply’s CEO. “Their extensive expertise and leadership in their respective fields will be instrumental in guiding our financial strategy and strengthening our talent capabilities. As we continue to expand our market presence and develop groundbreaking cybersecurity solutions, their contributions will be critical in driving our growth and further solidifying our position as a global leader.”

Continue Reading

Anna Sainsbury

Sightline and GeoComply Host Grand Opening of Las Vegas Offices

Published

on

 

Sightline and GeoComply hosted the grand opening of their new offices at the University of Nevada, Las Vegas (UNLV) Harry Reid Research & Technology Park. Dignitaries who attended the ribbon-cutting event included UNLV President Dr. Keith Whitfield, U.S. Representative Susie Lee, UNLV Vice President of Economic Development Bo Bernhard, staff from the local offices of U.S. Representatives Dina Titus and Steven Horsford, and leaders from across the casino gaming industry.

The new 10,000+ square foot Las Vegas offices will be a home base for more than 100 staff from both companies. The office serves as the global headquarters for Sightline, the U.S. sports betting and casino gaming market’s leading digital payments provider and mobile app developer. The office also hosts GeoComply, an award-winning fraud prevention and cybersecurity solutions company that detects location fraud and helps verify a user’s true digital identity. The Las Vegas location will serve as GeoComply’s U.S. headquarters, with their global headquarters remaining in Vancouver, British Columbia.

The combined space is an innovation hub for the companies, which have both achieved “unicorn” status with valuations exceeding $1 billion. The office is in the same building as UNLV’s Black Fire Innovation, a gaming industry center for research, development, and innovation.

“Las Vegas is a natural home for our U.S. headquarters. We are thrilled to be at Black Fire, as it is a hub to unite innovative technology and hospitality within the US gaming industry. The region’s large pool of experienced gaming industry professionals allows us to recruit top-level talent who know compliance, gaming operations, the experiences players want, and how to innovate within a highly regulated market. Being in Las Vegas gives our team easy access to our customers so we can connect, collaborate and problem solve,” Anna Sainsbury, Co-Founder & CEO of GeoComply, said.

Advertisement

“It is nothing short of incredible to see how Las Vegas has transformed into a tech hub since Sightline was founded a dozen years ago. Having our offices within UNLV and their Black Fire Innovation center will help ensure we have the resources necessary to continue to grow, innovate, and deliver for our clients,” Omer Sattar, Co-founder and Co-CEO of Sightline, said.

“As we thought about Sightline’s incredible growth over the past few years, we knew we wanted a new office space to provide our employees with a great space and drive our company into its next successful chapter. This office will provide the Sightline team with a tremendous base of operations to help reach even greater heights,” Joe Pappano, Co-CEO of Sightline, said.

Continue Reading

Trending