GeoComply Forecasts Record-Setting Year for NFL Sports Betting

GeoComply Forecasts Record-Setting Year for NFL Sports Betting

Super Bowl 57 (2)

The chief executive officer of GeoComply, Anna Sainsbury, published a series of data points hinting at a record-setting year for the sports betting sector in the United States.

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Sports Bettors Increase this Year

Since the Supreme Court of the United States struck down the Professional and Amateur Sports Protection Act in 2018, the number of people participating in sports betting has skyrocketed.

This increase can be attributed to the expanded availability of legally sanctioned betting opportunities. Sainsbury stated that since May of 2018, states in the United States that allow sports betting have received more than $2.4 billion in tax income from the activity.

According to Sainsbury, more than 44 percent of the country’s population has access to legally sanctioned betting on sports. Because of this, the 2023 NFL playoffs have seen a level of betting interest that has never been seen before.

Through the conference championship games, GeoComply has conducted more than 550 million geolocation checks, which authenticate a bettor’s physical location.

This number reflects a rise of 50 percent in comparison to the NFL playoffs in 2022. According to a post that Sainsbury made on LinkedIn, “Interest in the 2023 NFL playoffs has been off the charts.”

Record-Breaking Super Bowl XLVII

What can we expect from the betting action leading up to and taking place during Super Bowl LVII? There were no forecasts provided by Sainsbury.

On the other hand, she pointed out that during the Super Bowl weekend of the previous year, the company carried out over 80 million geolocation checks, representing a 226% increase over 2021.

It’s possible that this year may also witness a rise in the number of people placing bets.

In the past several months, the states of Ohio, Maryland, and Kansas have all begun offering online sports betting. These markets are still growing, and there will be a lot of betting on the big game because of them.

Out of these three states, Ohio is the one that is most likely to have the most significant impact on the betting for this year’s Super Bowl. On January 1st, the state began offering mobile sports betting to residents.

It is generally considered a candidate for a spot in the top five sports betting markets.

Even though the numbers for January revenue aren’t out yet, it’s likely that Ohio brought in at least $500 million in handle (total wagered) last month. This is despite the fact that the numbers for January revenue aren’t out yet.

The American Gaming Association (AGA) forecasts that this year will see record levels of bets placed on the Super Bowl. According to AGA projections, this year will see record levels of Super Bowl wagering.

According to the AGA’s projections, there will be a 61% increase in the number of adults who wager on the Super Bowl compared to 2022.

The association thinks that gamblers will bet about $16 billion on the game, which is twice as much as what sports betting businesses made last year.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.