In a significant development, Pollard Banknote’s Mkodo has joined forces with the Arizona State Lottery to provide its cutting-edge geolocation tool, GeoLocs, for the state’s online sweepstakes platform, Lucky Lounge. This strategic collaboration aims to ensure full compliance with geolocation regulations across Arizona, marking an important step in advancing the user experience for geolocation verification.
Mkodo, under the leadership of Managing Director Stuart Godfree, is thrilled to support the Arizona Lottery in its sweepstakes program, reinforcing its commitment to compliance with geolocation regulations. Following the early 2023 launch of the Lucky Lounge platform, this partnership is set to establish GeoLocs as a leading provider in North America for compliance solutions. The shared goal is to enhance the geolocation experience for Arizona Lottery players.
GeoLocs: The Ideal Choice for Arizona Lottery
The decision to implement GeoLocs as the geolocation verification tool for the Arizona Lottery was driven by its outstanding technology, expertise, and comprehensive knowledge of regional regulations and compliance requirements. GeoLocs was the perfect match to ensure the Arizona Lottery’s geolocation needs were met effectively.
Arizona’s Sports Betting Landscape
Arizona’s sports betting industry has been making significant strides. In July, the total sports betting handle reached $323.2 million, representing a 17.8% decrease from June’s $393.2 million but a noteworthy 11.3% increase year-on-year. The majority of wagers, $320.2 million, were placed online, while the remaining $2.4 million was attributed to bets made at retail sportsbooks.
Winning and Revenue
Sports bettors in Arizona won a substantial $287.9 million during this period. The adjusted gross event wagering revenue amounted to $34.6 million, showcasing an impressive 38.4% increase compared to July 2022 and a substantial 24.9% uptick from June 2023. The bulk of this revenue, $34.3 million, was generated through online sports betting, while retail sportsbooks contributed $151,222.
After accounting for $7.7 million in free bets and promotional credits, primarily from online betting activities, the adjusted gross revenue stood at $26.8 million. This figure demonstrated a remarkable 78.7% growth from the same month in 2022 and a noteworthy 63.4% increase from June 2023. Online sports betting was the dominant contributor to this adjusted revenue, amounting to $26.6 million, with retail operations contributing $145,433.
The partnership between Mkodo and the Arizona State Lottery marks a significant step forward in enhancing geolocation compliance and delivering a superior user experience. The continued growth of Arizona’s sports betting industry, with its increasing handle and revenue, indicates a promising future for the state’s gaming landscape. This collaboration, along with the adoption of GeoLocs, underscores the commitment to responsible and compliant gaming practices in Arizona, providing players with a secure and engaging platform for their sweepstakes endeavors.