GeoComply, a leading geolocation technology provider, has delved into the intricate landscape of in-stadium online betting during the recently concluded 2023-24 NFL season. From the regular season to the climactic moments of the playoffs, the data paints a vivid picture of the evolving dynamics of online sports betting.
Surge in Overall Online Betting Activity:
The NFL Playoffs witnessed a remarkable 24% increase in geolocation transactions and a 12% rise in active user accounts compared to the preceding season. This surge intensified during the conference championship games, boasting a 35% increase in geolocation transactions and a 13% uptick in active user accounts compared to the corresponding stage in the previous season.
Stadium Showdown:
In terms of on-site geolocation transactions during the regular season, Paycor Stadium, home to the Cincinnati Bengals, emerged as the leader with an average of 67,000 transactions per game. Following closely were State Farm Stadium (Arizona Cardinals) with 64,000 transactions per game and Lincoln Financial Field (Philadelphia Eagles) with an average of 61,000 transactions per game.
Fan Engagement – New Accounts Created:
Examining the creation of new accounts for online sports betting during the regular season, FedEx Field stood out with fans generating an impressive average of 695 new accounts per game. MetLife Stadium and Paycor Stadium secured the second and third spots, boasting averages of 438 and 374 new accounts per game, respectively.
Super Bowl Weekend Extravaganza:
The data echoes GeoComply’s previous records during Super Bowl LVII weekend in February 2023. The company conducted a groundbreaking 100 million geolocation checks across 23 US states and the District of Columbia, marking a substantial 25% increase from the previous year. Notably, over 100,000 geolocation checks were identified in and around State Farm Stadium during the Super Bowl weekend. Ohio, a recently regulated state, found its place among the top five states ranked by geolocation transactions.
Cybersecurity Triumphs:
GeoComply’s commitment to cybersecurity was underscored as the company successfully thwarted over 140,000 fraud attempts in the week leading up to Super Bowl LVII. This highlights the critical role technology plays in securing the integrity of online sports betting platforms during major events.
Regulatory Milestone:
In October 2023, GeoComply achieved a significant milestone with the approval of its Core for Authentication product by the New Jersey Division of Gaming Enforcement (NJDGE). This strategic move aimed to enhance the Know Your Customer (KYC) process on the Prophet Exchange platform, showcasing the company’s dedication to regulatory compliance and user authentication.
As the curtains fall on the 2023-24 NFL season, GeoComply’s data provides not just a snapshot of online betting trends but a dynamic narrative of evolving fan engagement, technological advancements, and regulatory compliance. The surge in geolocation transactions, coupled with impressive cybersecurity measures, sets the stage for a future where the intersection of sports and technology continues to redefine the landscape of online sports betting.