The gaming and betting industry is experiencing a notable evolution, marked by significant advancements in compliance technology and robust market performance. Recently, mkodo announced that its GeoLocs geolocation compliance platform has successfully passed an independent assessment conducted by Gaming Laboratories International (GLI). In tandem, iGaming Ontario released its market performance report for the first quarter of the 2024-25 fiscal year, showcasing impressive betting statistics.
Overview of the GeoLocs Platform
mkodo, a prominent provider of compliance tools in the betting, gaming, and lottery sectors, has developed the GeoLocs geolocation compliance platform. This platform is designed to ensure that online gaming operators comply with geolocation regulations across different jurisdictions.
Independent Assessment by Gaming Laboratories International
The independent assessment by GLI focused on evaluating the geolocation verification controls of the GeoLocs platform, examining its performance across various devices, operating systems, and network environments. Christine M. Gallo, senior vice president of quality and technical compliance at GLI, emphasized the importance of this evaluation, stating, “The assessment of mkodo’s GeoLocs platform was completed with no geolocation risks identified, showcasing the robustness and reliability of the platform.”
Impact on mkodo and the Industry
Stuart Godfree, managing director of mkodo and GeoLocs, articulated the significance of this achievement: “This successful evaluation by GLI not only highlights our commitment to maintaining the highest standards in geolocation technology but also serves as a key milestone as we prepare to unveil exciting new innovations to the GeoLocs Platform.”
For over a decade, the GeoLocs platform has been a mature and reliable solution for the online gaming industry, ensuring precise and compliant geolocation services. The results of the GLI assessment reaffirm the platform’s reliability and security, enabling partners to operate confidently across diverse regions.
Additionally, mkodo’s commitment to collaboration with Accredited Testing Facilities (ATFs) underscores its dedication to independent verification and testing, ensuring the platform’s suitability in various compliance markets.
Q1 Financial Highlights
In a separate but equally important development, iGaming Ontario has reported a remarkable CA$18.4 billion betting handle for the first quarter of the 2024-25 fiscal year. This figure represents a 3.4% increase over the previous quarter and a striking 31% increase year-over-year.
Breakdown of Revenue and Player Engagement
Gaming revenue during this period reached CA$726 million, marking a 5.2% increase from the previous quarter and a 34% increase year-over-year. The robust financial performance is further underscored by the active engagement of nearly 1.9 million player accounts during Q1.
The average monthly spend per active player account was an impressive CA$284, demonstrating the growing engagement and financial commitment from players in the Ontario gaming market.
Implications for the Gaming Industry
These figures not only highlight the growth of the gaming sector in Ontario but also reflect broader trends in the industry. The increase in both betting handle and gaming revenue indicates a rising acceptance of online gaming among players and a potential for continued growth in the market.
The advancements in compliance technology through mkodo’s GeoLocs platform and the impressive market performance reported by iGaming Ontario signal a robust future for the gaming industry. As technology continues to evolve and regulatory frameworks adapt, companies that prioritize compliance and innovation will be well-positioned to thrive in this dynamic landscape.
Both mkodo’s commitment to maintaining high standards in geolocation technology and iGaming Ontario’s impressive betting statistics exemplify the promising trajectory of the gaming industry. Stakeholders, from operators to regulators, will undoubtedly be watching closely as these developments unfold, anticipating further growth and innovation in the coming years.