GeoComply’s proprietary technology has detected something stirring in the bayou, crisscrossing the parishes of the state, and second lining its way down Bourbon Street: its betting fever and it’s heating up fast. This is according to the earliest reports of Louisiana’s performance since online sports betting first went live last Friday.
Very promising news indeed.
From the first weekend – betting went live at 8AM Friday morning, January 28 – GeoComply detected over 3.4 million transactions. The peak time for transactions was on Sunday between 5PM and 6PM, completely unsurprising given that this is the time of week when America is most enraptured in football frenzy.
This means that, during the first 36 hours of betting, a whole 3.6% of Louisiana’s adult population were placing bets. This beat New York on a per capita basis, and New York has had the most storied debut of them all.
A strong majority of the action – 68% of geolocated transactions – occurred in the southeastern part of the state. This makes sense: that’s where New Orleans is, that’s where Baton Rouge is, and it is the most densely-populated part of the state.
Altogether, the Pelican State ranks eighth in the country in terms of transaction volume, ahead of Indiana, Tennessee, Colorado and Connecticut.
GeoComply’s technology, while unable to discern sports handle volume, does use a fairly accurate read on market performance. It uses geolocation technology to see how many bets are being made at a given time, thereby providing what is very nearly real time data.
