A rival to GeoComply surfaces through a partnership with Integrity Compliance 360.
GeoComply holds a near-monopoly on geolocation services in the tightly regulated U.S. iGaming and online sports betting industry, but a fresh collaboration poses a potential threat to its dominance.
Back in October, reported that Radar, a New York startup specializing in providing location services to retailers like Dick's Sporting Goods, Panera, and Dairy Queen, was planning to venture into the iGaming and online sports gambling realm. Today, Radar made the move official with the announcement of its partnership with Integrity Compliance 360 (IC360), a partnership formed through the merger of U.S. Integrity and Odds on Compliance.
This partnership offers an exciting opportunity to combine Radar's expertise in geolocation with IC360's strong leadership in sports wagering and iGaming regulatory technology, according to Radar CEO Nick Patrick. "Together, we will unlock new possibilities for businesses looking to tap into the potential of location data to fuel growth and innovation," he said.
Radar representatives confirmed that the partnership would lead to the launch of a geolocation product dubbed "Geo360 Powered by Radar." This business-to-business service aims to help online casinos and sportsbooks pinpoint the specific location of a player's request to place a bet online before facilitating the wager.
GeoComply's Reign
The U.S. online gambling scene experienced exponential growth after the Supreme Court's May 2018 ruling that a federal ban on single-game sports betting was unconstitutional.
Currently, only seven states — Connecticut, Delaware, Michigan, New Jersey, Rhode Island, Pennsylvania, and West Virginia — allow legal online slot machines and table games. However, legal online sports betting is operative in 30 states and Washington, D.C. GeoComply handles the lion's share of geolocation detection services for the operators in these locations.
A crucial aspect of online gaming regulation involves ensuring that only individuals of legal gambling age, residing within a state permitting iGaming and/or online sports wagering, can access the internet apps and platforms.
GeoComply's PinPoint technology is known for pinpointing an online gambler's physical location with unparalleled accuracy, down to four feet. The service relies on Wi-Fi, GPS, and cellphone tower signals to identify online users. GeoComply boasts that the data undergoes over 200 checks to verify the location information's authenticity and prevent fraudulent activity.
Rising Competition
Radar and IC360 are confident their upcoming Geo360 Powered by Radar product offers superior capabilities. They believe their integration of integrity monitoring services is what gives their service the edge over GeoComply.
"This partnership marks a significant advancement in our mission to provide a one-stop solution for the industry's regulatory compliance technology services," said IC360 CEO Matt Holt. "By blending our existing products and expertise with Radar's cutting-edge geolocation capabilities, we're well-positioned to offer unparalleled value to our clients."
Challenging GeoComply's grip on the market won't be a cakewalk, though.
The company currently has heavyweights like DraftKings, FanDuel, and BetMGM among its clientele. With its geolocation technology installed on more than 400 million devices worldwide and handling over a billion geolocation transactions each month, dislodging GeoComply from its position of dominance will be a daunting task.
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Source: www.casino.org
