GeoComply: Strong Opening Sports Betting Weekend In Massachusetts
The launch of Massachusetts mobile sportsbooks has already proven to be a success. GeoComply has released the official report from the opening weekend. From March 10 to March 12, online sportsbooks in Massachusetts saw 8.1 million geolocation transactions. This came from 406,437 unique accounts.
The launch weekend in Massachusetts surpasses markets like Virginia, Arizona, Indiana, and Maryland while having similar population densities. A new player in the U.S. sports betting industry is born.
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Mobile Sportsbooks Dominate During MA Launch Weekend
Massachusetts mobile sportsbooks are already a top-five sports betting market with its launching window. The only markets that saw more activity during that stretch were New Jersey, New York, Ohio, and Pennsylvania. The opening weekend can give a glimpse of just how dominant Massachusetts mobile sports betting will be going forward.
MA has a population of approximately 7 million residents. Arizona has approximately 7.4 million residents. Arizona’s opening weekend saw 147,091 unique accounts and 4.9 million geolocation transactions. AZ has been a top 10 sports betting market since its inception, and Massachusetts opening has blown Arizona out of the water.
Massachusetts is also impressive as it had fewer operator options for residents. Only six mobile apps were live during the launch weekend in Massachusetts. Comparatively, Arizona launched seven mobile apps. There are currently 17 operators live in Arizona; Massachusetts still managed to see more activity over the weekend.
It is not simply Arizona either. Massachusetts residents were more active over the weekend than in Illinois, Colorado, and Michigan. All of these markets have been established and are heavy hitters in the industry.
Fraudulent Transactions Halted By GeoComply
GeoComply also serves as the fraud prevention and cybersecurity solutions operator in Massachusetts. During launch weekend, GeoComply prevented another 5,000 transactions from users known for fraud. This saved customers an estimated ‘tens of thousands of dollars.’
“We are privileged to be licensed in Massachusetts and support operators and the MGC as it builds a regulated online sports betting market with responsible gambling hard-boiled into its regulations,” said Lindsay Slader, GeoComply SVP of Compliance. “Massachusetts citizens will benefit from legal online sportsbooks dedicated to greater protection and an increased budget for responsible gambling programs.”
The Massachusetts Gaming Commission (MGC) estimates that $60 million in tax revenue will be garnered annually from the local mobile betting market. $5.4 million of that total will be invested in the Public Health Trust Fund. This supports responsible gambling efforts.
Locals can wager and feel safe in Massachusetts knowing that the MGC and GeoComply are both committed to safety and security.
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