Geolocation technology company Xpoint has achieved a significant milestone by securing licensure from the Tennessee Sports Wagering Advisory Council (SWAC) to offer its services in the state. This regulatory approval marks a pivotal step for Xpoint, allowing it to extend its presence in North America, where it has already established itself in Ohio, New Jersey, and Canada. With a commitment to enhancing the integrity and safety of online gambling, Xpoint’s geolocation solutions are set to play a crucial role in ensuring secure and fraud-free gaming experiences for players in Tennessee and beyond.
Leveraging Geolocation Expertise:
Xpoint’s CEO, Marvin Sanderson, expressed gratitude to the Tennessee Sports Wagering Advisory Council for granting the company a license to provide geo-verification services. Acknowledging the significance of this achievement, Sanderson emphasized Xpoint’s dedication to upholding responsible gaming practices. As an esteemed geolocation technology provider, Xpoint is poised to collaborate with multiple partners in Tennessee, fostering a secure and transparent gambling environment for players while mitigating fraudulent activities.
Xpoint’s Expanding Footprint:
Xpoint’s licensure in Tennessee represents an important expansion of its operations across North America. With prior successful launches in Ohio, New Jersey, and Canada, the company’s geolocation solutions have garnered recognition for their effectiveness in verifying player locations and ensuring regulatory compliance. The addition of Tennessee to Xpoint’s portfolio further solidifies its commitment to supporting the growth and regulation of the sports betting and online gaming industries.
Xpoint Verify: Empowering Safe Wagering:
Xpoint’s entry into the US market with its online casino brand PlayStar underscores the significance of its geolocation product, Xpoint Verify. Designed specifically for sportsbooks and iGaming, Xpoint Verify serves as a real-money gaming geolocation solution. By implementing advanced technology, Xpoint Verify empowers operators to validate the geographical location of players, thereby promoting secure and legitimate wagering activities. With such solutions in place, players can engage in gaming with confidence, knowing that their experiences are safeguarded against fraud.
Contributing to Industry Governance:
Xpoint’s dedication to advancing responsible gaming practices is evident in its active involvement in the industry’s governance. Earlier this year, the company became a board-level member of the American Gaming Association (AGA). By joining AGA’s board of directors and participating in various committees, Xpoint’s leadership team aims to contribute to the formulation of industry standards that prioritize player safety, regulatory compliance, and ethical gaming practices.
Tennessee’s Soaring Sports Wagering Activity:
Against the backdrop of Xpoint’s licensure, the Tennessee Sports Wagering Advisory Council reported a remarkable surge in sports wagering activity. In October, bettors in Tennessee placed wagers totaling $405 million, reflecting a substantial 20.3% increase from the previous month. This surge not only established a new state record but also highlighted the vibrant enthusiasm for sports betting in the region. The resulting adjusted gross income of $34.8 million contributed significantly to the state’s revenue and tax collection, signaling the positive impact of regulated sports wagering on the economy.
Xpoint’s licensure in Tennessee and its broader endeavors to provide geolocation technology solutions underscore the company’s pivotal role in ensuring the integrity of the gaming industry. By collaborating with regulatory bodies and industry stakeholders, Xpoint is making meaningful strides towards creating a safer and more transparent gaming environment. As the sports betting and iGaming landscape continues to evolve, Xpoint’s commitment to responsible gaming will remain instrumental in shaping a secure and enjoyable experience for players across North America.