Ollie RingGeoComply’s geolocation insights have provided the earliest idea as to the scale of mobile wagering in Massachusetts through the company’s analysis.
Per GeoComply’s data, over 400,000 player accounts were recorded in Massachusetts over the opening weekend in the Commonwealth State, following the launch of its mobile sports wagering across the state on March 10th.
Six operators launched at 10am, about 40 days after legalized sports wagering launched at three landbased casinos in the state (MGM Springfield, Plainridge Park and Encore Boston Harbor).
The mobile brands that went live were as follows:
- Caesars Sportsbook
- BetMGM Sportsbook
- WynnBET
- Barstool Sportsbook
- FanDuel
- DraftKings
The Commonwealth State has placed estimates on tax receipts per annum of approximately $60 million from sports betting, of which $5.4 million will go directly towards responsible gaming measures as responsible gaming continues to gather momentum across the United States of America.
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.”
She added: “When Anna [Sainsbury] and David [Briggs] founded GeoComply over a decade ago, they set about solving the geolocation conundrum. 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.”
Additional figures of interest from GeoComply are as follows:
- 5,000 transactions prevented from devices or accounts with a known history of fraud
- 8.1 million geolocation transactions in MA throughout the opening weekend of mobile sports wagering
- 6 operators were accessed
- 406,400 unique player accounts were used
Per GeoComply figures, Massachusetts mobile sports betting launch ‘far outstrips states of similar sizes, as shown in the graphic below:
Additionally, MA was only ranked behind: New Jersey, Ohio, Pennsylvania and New York in recorded geolocation transactions over the weekend just gone.
Operators Betr and Fanatics also have a provisionally approved license but both have missed first movers advantage as they will launch later in the year. Similarly, Betway has pinpointed 2024 as the year for a Betway MA launch.
The tax rate in MA is 15 percent on retail sports betting, and 20 percent on mobile sports betting. This is fairly par for the course, but given the state’s moderate size, again helps bolster arguments that the economic benefit of sports betting legalziation is clear to see. This will be key in arguments in states such as Texas, where 2023 could prove a pivotal year for TX sports betting.
This article was written for Business 2 Community by Ollie Ring.
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