GeoComply Unveils Record Surge in Online Betting Amid NFL Season Kickoff

In a clear sign of the growing acceptance of legal sports betting, a recent report from GeoComply Solutions Inc. has revealed a substantial surge in online betting activity during the first week of the 2023 NFL season. 

56% Surge in Geolocation Transactions and 40% Rise in New Player Accounts

GeoComply, a Vancouver-based tech company widely utilized by the US sports betting industry to verify customer locations, disclosed that it processed a staggering 242.3 million geolocation transactions from legal US sportsbook customers. This figure marks an impressive 56% increase compared to the same period in 2022, demonstrating the significant growth of the industry.

Moreover, GeoComply reported a 40% rise in the number of new player accounts registered during the opening week of this year’s NFL season, with over 1.1 million accounts created. The majority of these activities, approximately 80%, occurred online, highlighting the shift towards digital sports betting.

Anna Sainsbury, co-founder and CEO of GeoComply, said: “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.”

Presently, nearly 47% of the US population has access to legal and regulated online sports betting. This percentage is poised to increase to 51% as North Carolina, Maine, Vermont, and Kentucky prepare to launch regulated betting services in the near future. However, this still leaves almost half of the nation without legal protection.

GeoComply Report Sheds Light on Sports Betting Legalization Debate

The report spotlights six states—Alabama, Georgia, Minnesota, Missouri, Mississippi, and South Carolina—where lawmakers are currently deliberating the legalization and regulation of sports betting. In these states, the high number of consumers attempting to access legal betting platforms in other states underscores the demand for legalized sports betting.

Despite the encouraging data, GeoComply’s report also reveals a significant number of unsuccessful attempts to place bets across states where it remains illegal. Regulators strictly mandate that bettors must be physically present within a state to place a legal bet, resulting in more than half a million unsuccessful attempts in Missouri alone.

Furthermore, the report highlights the increasing popularity of in-play betting, where customers place bets while a game is already in progress. During the season opener between the Kansas City Chiefs and Detroit Lions, for instance, GeoComply observed a massive surge in transactions, particularly when Detroit scored the game’s first touchdown.

While the report provides valuable insights into the growing legal sports betting landscape, it is important to note that GeoComply’s data does not capture every online bet placed in the US.