Fraud prevention and cybersecurity specialist GeoComply Solutions Incorporated has heralded the successful launch earlier this month of online sportsbetting in the eastern American state of New York.
The Vancouver-headquartered firm used an official Tuesday press release to declare that its own data suggests that in the region of 1.2 million accounts have so far been created across the five authorized online sportsbooks in ‘The Empire State’ with 770,840 of these players being ‘new’ to the world of regulated sportsbetting. New York became the latest American jurisdiction to legalize remote sports wagering from January 8 with punters now able to place a wide range of bets with the sites at FanDuel.com, BetRivers.com, WilliamHill.com, DraftKings.com and BetMGM.com.
GeoComply Solutions Incorporated explained that online sportsbetting sites in New York had around 878,000 unique users as of January 17 while processing an impressive 17.9 million geolocation transactions over the course of last weekend alone, which represented a rise of over 4% week-on-week. Turning its attention to cannibalization concerns and the company moreover disclosed that only about 9.3% of these customers had previously placed bets with domains licensed by the neighboring state of New Jersey.
Lindsay Slader serves as the Gaming Managing Director for GeoComply Solutions Incorporated and she used the press release to proclaim that the online sportsbetting market of New Jersey ‘hasn’t flinched’ in the wake of the New York launch and actually saw its most recent average weekend geolocation transaction tally swell by approximately 4% to hit 13.1 million.
Read a statement from Slader…
“The momentum of New York’s sportsbetting launch has continued and it is mostly home-grown. The vast majority of users are brand new to regulated sportsbetting in the United States and the data tell us that New Yorkers are dumping illegal sportsbooks for the new legal options while operators are also excelling at attracting first-time bettors.”
GeoComply Solutions Incorporated furthermore asserted that its research determined that online sports bettors in New York ‘are mostly loyal to one sportsbook so far’ courtesy of an average of 1.36 accounts per player with an extraordinary 87.8% of these punters wagering exclusively with the five home-grown sites. The firm finished by pronouncing that the state could soon become ‘king of the hill’ as the 878,000 unique sign-ups it witnessed over the course of the ten days from January 8 was higher than the analogous tally for New Jersey and Pennsylvania combined.
Slader’s statement read…
“New York hasn’t failed to dazzle us but we are also impressed by the sustained growth of the overall sportsbetting industry. We can’t wait to share how many more GeoComply Solutions Incorporated data records are broken from now through to Super Bowl LVI.”