According to new data released this week by GeoComply Solutions, the anticipated shift away from black market sports betting in the United States and toward licenced forms of sports wagering is gaining traction.
During the current NFL season, tens of millions of Americans now have the option of betting lawfully with state-approved and regulated sportsbooks, according to the geolocation security specialist. Legal online sports betting volumes have more than doubled from last year in just 12 months, which can only be regarded as a sign of bad times ahead for the illegal industry.
The biggest four-day stretch of geolocation transactions ever recorded by GeoComply was caused by a combination of new sports betting states and American consumers switching to regulated sportsbooks.
Nearly all of the online sports betting market in the United States now uses the firm’s compliance services.
Long awaited option
Lindsay Slader, Managing Director, said: “Preparing for this NFL season has been a process that began before the end of last season, and we expected high volumes, but what we have seen has surprised us nonetheless.
“The level of demand across new markets, such as Arizona, indicates that consumers have long waited for the option to legally place a sports bet.
“The data tells a remarkable story about the growth of the industry in a short period of time. This success is a credit to all our clients and state regulators, who have worked tirelessly to prepare for the start of the new NFL season.”
From September 9 to 7 p.m. ET on September 12, there were 58.2 million geolocation transactions throughout 18 states and the District of Columbia, according to GeoComply’s data. This is up 126 percent over the same time period in the 2020 NFL season, when the business processed 25.8 million transactions.
New Jersey, Pennsylvania, Michigan, Arizona, and Illinois had the highest volume of transactions, according to the data.
Live state-regulated sportsbooks
Since Thursday, when the state-regulated sportsbooks initially went live, more than 6.1 million geolocation transactions have been made from more than 271,000 newly-created accounts in Arizona, which opened on the opening day of the NFL season.
“Arizona is showing that there is pent up demand for sports betting in the western part of the US,” Slader added. “The state has catapulted near the top as the 4th largest state for transactions, in just its first weekend. We haven’t seen anything quite like it.
“I am immensely proud of the GeoComply team who has put in thousands of hours to ensure a seamless and most importantly, safe start to the NFL season. Whether it’s confirming location, verifying identities or detecting and thwarting possible fraud, our geolocation compliance and security solutions are committed to support the regulated online gaming environment.”
The company also stated that it intends to provide its data on a regular basis throughout the 2021/2022 sporting calendar to aid in the analysis and discussion of the US sports betting sector.