GeoComply, a fraud and risks solutions provider, has recorded over 400,000 player accounts in Massachusetts during the Bay State’s opening weekend of sports betting.
Throughout the regulatory process, the Massachusetts Gaming Commission (MGC) has placed emphasis on consumer protection that has resulted in a strong oversight system with strict rules around advertising and responsible gambling.
GeoComply SVP of Compliance Lindsay Slader commented: “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.
“Massachusetts citizens will benefit from legal online sportsbooks dedicated to greater protection and an increased budget for responsible gambling programs.”
The Commonwealth’s officials have estimated that annualized tax revenue from sports betting will be around $6m, of which $5.4m will go into the state’s Public Health Trust Fund. This fund is aimed primarily at supporting responsible gaming (RG) programs.
Massachusetts has invested a great deal of money into RG programs since 2011 (when it legalized casinos). The Fund’s budget for 2022 was $17m.
GeoComply prevented over 5,000 transactions from devices or accounts with a known history of fraud, saving consumers tens of thousands of dollars. It recorded a total of 8.1 million geolocation transactions in Massachusetts through the opening weekend of sports betting.
Massachusetts figures on launch weekend far surpassed those of similar-sized states. It was the fifth-busiest state nationwide over last weekend, with only New Jersey, Ohio, Pennsylvania and New York recording more geolocation transactions.
Slader further commented: “Today, one of the biggest challenges facing operators is onboarding genuine players and keeping out fraudsters. With the gold standard of geolocation in place and an experienced team of experts, we are uniquely positioned to lead the fight against fraud in all its forms.”
