GeoComply emphasized the importance of legalisation in terms of player protection and tax revenues after releasing the report “From the Sideline to Mainstream” following the first NFL season of 2023.
The geolocation solution provider reviewed data collected from September 3-10 and processed 242.3 millions transactions in that time period, an increase of 56 percent over the same period a year ago.
Additionally, during the first week of 2018, 1.1 million US-based sportsbooks created new accounts, which is a 40 percent increase year-over-year.
Data also showed that 75% of online sports betting transactions are made on mobile devices, and that most of these take place on iOS.
The first-quarter touchdown from Jared Goff, to Amon Ra St. Brown, during game one of the Detroit Lions vs Kansas City Chiefs caused a huge surge in activity. The company processed 4,200 transactions every second after the score.
GeoComply CEO and Co-Founder, Anna Sainsbury stated that consumer awareness of fairness and security of legal online betting platforms played a crucial role in responsible growth.
Our data underscores an urgent need to act. While the growth in our transaction volume highlights the appetite for regulated sports betting online, it also highlights the urgency of the situation. States that have not legalised online sports betting must do so to be able to protect their consumers and generate substantial tax revenue.
Together, the three markets, Ohio, Maryland, and Massachusetts, who are experiencing their very first NFL season, accounted for 253,000 new accounts, as well as 41.3 million total geolocation transactions.
Around 47 percent of US residents have access to legal, regulated sports betting online. This number will increase to 51 percent when North Carolina Maine Vermont and Kentucky begin regulated betting in the next month.
GeoComply warns that “with almost half the country not protected”, “significant consumer demand is expected in six states, where legislators are considering bills next year to legalize and regulate sports gambling”. Alabama, Georgia Minnesota, Missouri Mississippi and South Carolina were the states that made up this list.
