GeoComply receives contractor licence in Maryland
The licence will allow the company to supply its geolocation, ID verification and fraud detection services to operators when the state launches online sports betting.
US.- The geolocation data firm GeoComply has been awarded a contractor licence by the Maryland State Lottery and Gaming Control Agency. The licence will allow the firm to supply its geolocation, ID verification, and fraud detection and prevention services to regulated operators when online sports betting launches in the state.
GeoComply products allow operators to use the visiting customer’s data to improve know-your-customer (KYC) and anti-money laundering (AML) processes. It also helps to mitigate fraud.
GeoComply senior vice president of compliance Lindsay Slader, said: “We are very excited about the launch of Maryland’s highly anticipated mobile sports betting market. Our team has worked hard to meet Maryland’s rigorous standards. Having our license in hand means that our customers can launch with confidence on day one.
“We look forward to supporting the compliance needs of operators and providing state regulators with tools and data so they can properly oversee the growth of mobile sports betting in Maryland.”
Sports betting apps could be up and running in Maryland by the start of December. The Maryland Lottery and Gaming Control Commission has sent ten applicants for final approval from the Sports Wagering Application Review Commission (SWARC), which could award the licences at its next meeting on November 21.
The ten operators who have been passed to the SWARC are Caesars Sportsbook, FanDuel, Betfred, BetMGM, DraftKings, Fanatics, Parx, Barstool Sportsbook, PointsBet, BetRivers.
GeoComply’s approval in Maryland follows the award of a conditional licence by the Ohio Casino Control Commission in September. The Commission granted 10 operator licences and four supplier licences as it prepares for the launch of sports betting on January 1.
Maryland retail sports betting handle climbs to $31.4m in September
Maryland’s seven sportsbooks registered a sports betting handle of $31.4m in September, a 67.9 per cent increase compared to August’s $18.7m. According to the report from the Maryland Lottery and Gaming Control Commission, sportsbooks posted a 17.6 per cent hold for the month.
The win rate just surpassed August’s 17.2 per cent. Maryland collected $984,308 in taxes, most of which go to the Blueprint for Maryland’s Future Fund.
