The daily fantasy sports industry has been under increased scrutiny recently. This is especially after the Ohio Casino Control Commission (OCCC) called out and said that they would investigate sites “masquerading” as games of skills.
Underdog announced Tuesday that the company had signed a deal with GeoComply to become the DFS geolocation provider.
We are excited to work with Underdog. GeoComply’s VP of Business Development & Licensing Sam Basile said that Underdog has become a market leader in the daily fantasy market because of its commitment to innovation and compliance.
DFS was thought to be a thing of the past with the advent of sports betting. However, new groups such as PrizePicks are finding success in both states that have and do not regulate sports betting. Underdog completed a Series-B round of funding that resulted in a $485m valuation for the company. This deal covers not only Underdog’s DFS product, but also a future sports betting product.
We are proud to partner with GeoComply in order to fulfill our commitments towards our customers and regulators. This partnership is essential to ensuring our customers have a frictionless, safe and compliant experience”, said Underdog Senior Director Matt Garrigan.
This announcement comes only five months after Underdog had announced a partnership between XPoint and a geolocation company.
