Bettors in the US are increasingly shifting away from illegal sports betting companies in favor of licensed operations, responsible gaming organization Conscious Gaming concluded based on record volumes wagered over the past weekend.
Bad News for the Offshore Companies
The trend of channeling players to the regulated market which provides a higher level of security brings the additional benefit from the funds that were once flowing out and are now remaining within the communities the funds originate from, boosting further opportunities for development.
According to the data gathered by Conscious Gaming’s parent company GeoComply, the NFL’s Conference Championship weekend in 2021 generated more than 30 million transactions assigned to 17 states which offer online sports betting, including the District of Columbia, representing 260% growth compared to the numbers recorded in 2020.
The two additional states alone, Michigan and Virginia, which managed to launch just in time for the heavy-packed with sporting events weekend, generated 7.5 million transactions from 400,000 accounts, contributing to 25% of the overall volume nationwide, and helped push the number of transactions during the packed with sporting events weekend.
“Hundreds of thousands of people in Michigan and Virginia placed legal online bets for the first time this past weekend.”Seth Palansky, Vice President, Corporate Social Responsibility, Conscious Gaming
Americans Choose the Higher Level of Protection
That fact, according to Palansky, demonstrated that Americans were willing to replace illegal gambling websites as well as “the street corner bookie” with licensed companies which provide protection for consumers and measures for responsible gaming.
Earning the trust from customers would cut off outflows of money which was previously siphoned out to offshore operators and would ensure the funds remain within the US and allow state governments, taxpayers and local communities to take full advantage of them and create other opportunities for economic growth.
“As the industry grows, it is important for it to remain firmly committed to protecting problem bettors and putting additional processes in place to ensure the growth can be managed effectively and responsibly.”Seth Palansky, Vice President, Corporate Social Responsibility, Conscious Gaming
Conscious Gaming, the independent nonprofit of GeoComply, has always been fully committed to customer protection via the latest technological innovations and breakthroughs, strong responsible gaming programs and effective self-exclusion tools.
As part of its ongoing commitment, Conscious Gaming launched its player protection solution in Pennsylvania, to complement the state’s PlayPause self-exclusion tool, make gambling safer and allow gaming operators to collect reliable information about their customers and identify those at risk of excessive gambling.