Report reveals consumer trends and the importance of legalization for player protection and tax revenue
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:
- 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.
GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user’s true digital identity. Trusted by leading brands and regulators for the past 10 years, the company’s geolocation solutions are installed on over 400 million devices and analyze over a billion transactions every month.
Our award-winning products are based on the technologies developed for the highly regulated and complex US online gaming and sports betting market. Beyond iGaming, GeoComply provides geolocation fraud detection solutions for streaming video broadcasters and the online banking, payments and cryptocurrency industries, building an impressive list of customers, including Akamai, Amazon Prime Video, BBC, BetMGM, DraftKings, FanDuel, and Sightline.
For more information, visit our Awards and Press page or contact: press@geocomply.com.
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