In a significant development, GeoComply, the geolocation data firm, has been granted a conditional license by the Ohio Casino Control Commission (OCCC), positioning itself as the first geolocation company in Ohio. The OCCC also awarded 10 operator licenses and four supplier licenses as part of its preparations for the much-anticipated sports betting launch on January 1.
Ohio Casino Control Commission’s Pioneering Move:
The Ohio Casino Control Commission has set the stage for a groundbreaking sports betting market in the state by awarding 10 operator licenses and four supplier licenses. This significant move paves the way for a regulated and competitive betting environment, providing opportunities for both operators and suppliers to cater to the growing demand for sports wagering.
GeoComply’s Conditional License – A Game Changer:
GeoComply’s conditional supplier license is a landmark achievement, covering its cutting-edge IDComply product and geolocation services. As the only age and identity verification service licensed in Ohio, GeoComply is poised to play a crucial role in ensuring compliance with the state’s stringent regulations. The conditional license approval positions GeoComply at the forefront of the geolocation data industry in Ohio, bringing a new level of accuracy and security to the sports betting landscape.
The Road to Legalized Sports Betting in Ohio:
Governor Mike DeWine’s approval of House Bill 29 last December marked a pivotal moment in Ohio’s sports betting journey. With the legislation in place, bettors in Ohio will have the opportunity to legally wager on college and professional sports, as well as other major events like the Olympics. This marks a significant shift in the state’s gambling landscape and is expected to boost the local economy while providing a safe and regulated betting platform for enthusiasts.
The Impending Sports Betting Launch:
January 1, 2023, is a highly anticipated date for bettors in Ohio, as it marks the official launch of legal sports betting in the state. The newfound opportunity for sports enthusiasts to place wagers on their favorite teams and events is expected to draw considerable attention and participation. The inclusion of college sports in the legal betting offerings opens up a vast market for operators, attracting a diverse range of sports fans.
GeoComply’s Record-Breaking NFL Betting Insights:
As the sports betting landscape continues to evolve, GeoComply reported record-breaking NFL betting figures based on geolocation volume data. The surge in betting activity during the opening weekend of the NFL season, with a 71.5% year-on-year increase in bets, underscores the immense potential of the sports betting market. Additionally, the legalization of sports betting in several states since the previous NFL season has contributed to this surge in betting activities.
Geolocation Data Driving Growth:
GeoComply’s geolocation data is proving to be a crucial component in driving the growth of the sports betting industry. With New York emerging as the leading market in terms of transactions during the early NFL season, it highlights the importance of accurate and reliable geolocation services in catering to the demands of a vast and diverse customer base.
The conditional license granted to GeoComply by the Ohio Casino Control Commission sets the stage for an exciting and regulated sports betting market in Ohio. As the state gears up for the much-awaited sports betting launch on January 1, the role of geolocation data and identity verification services becomes increasingly crucial in ensuring compliance and providing a secure betting experience. With GeoComply at the forefront of this technology, Ohio’s sports betting market is poised for significant growth and success.