Legal online sports betting is gaining momentum as fraud prevention and cybersecurity company GeoComply records its highest four-day period of geolocation transactions.
GeoComply supports almost the entire US online sports betting market and according to its data, legal online sports betting has exceeded more than double of last year.
As legalisation passes in more states, millions of Americans are able to bet legally for the first time as the new NFL season begins with state-approved and regulated sportsbooks.
With the combination of states opening up to sports betting states and the demand from consumers migrating to legal sportsbooks, betting volumes have skyrocketed to over double in the past year.
“Preparing for this NFL season has been a process that began before the end of last season, and we expected high volumes, but what we have seen has surprised us nonetheless,” said Lindsay Slader, MD of gaming at GeoComply. “The level of demand across new markets, such as Arizona, indicates that consumers have long waited for the option to legally place a sports bet.”
According to GeoComply, from September 9 to September 12, there were 58.2 million geolocation transactions across 18 states and the District of Columbia, representing a 126% increase from the 25.8 million transactions processed during the same period of the 2020 NFL season.
“The data tells a remarkable story about the growth of the industry in a short period of time,” added Slader. “This success is a credit to all our clients and state regulators, who have worked tirelessly to prepare for the start of the new NFL season.”
The data also shows that Pennsylvania, New Jersey, Michigan, Illinois and Arizona had the highest volumes of transactions.
GeoComply has plans to release its data throughout the 2021-2022 sports calendar in order to inform, as well as provide insight about the progression of the US sports betting industry.