Super Bowl LVIII Betting Surge: GeoComply Reports a 22% Increase in Online Wagers

The Rise of Legal Online Betting in the US

GeoComply’s recent announcement showcases an impressive surge in online betting activities during one of America’s most anticipated sports events, the Super Bowl. With a 22.3 percent increase in geolocation checks, this year’s Super Bowl weekend not only exceeded last year’s figures but also marked a pivotal moment in the shift towards a regulated and secure betting environment within the US. The data, spanning across 28 states, Washington D.C., and Puerto Rico, underscores the expanding reach of legal, online sports betting.

Anna Sainsbury, CEO and Co-Founder of GeoComply, emphasized the significance of this year’s Super Bowl, held for the first time in Las Vegas, in promoting the legal betting market. The event’s record-breaking results reflect the industry’s commitment to fostering a regulated ecosystem that prioritizes accountability, security, and player protection. GeoComply’s role in enhancing compliance and supporting the growth of legal betting platforms was highlighted as a crucial factor in the industry’s expansion.

Super Bowl LVIII: A Snapshot of Key Insights

• The weekend saw 8.5 million active accounts in states where online betting is sanctioned, marking a 15% increase from the previous year’s Super Bowl.
• Over 1.77 million new users registered for legal online betting accounts in the fortnight leading up to the Super Bowl.
• From the beginning of the 2023/2024 NFL Season to the Super Bowl, over 13.7 million new accounts were created on GeoComply’s platform, a 28% jump from the last season.
• A record-setting spike in transactions was observed minutes before the Super Bowl kick-off, with 14.75 thousand transactions per second, nearly doubling the previous year’s peak.

The GeoComply Effect: Bridging States and Enhancing Security

GeoComply’s data also shed light on the geographical nuances of betting, notably in Kansas City, where Chiefs fans on the Kansas side engaged in legal betting activities, while their counterparts in Missouri were restricted due to legal limitations. This stark contrast underscores the ongoing challenges and opportunities within the US betting landscape, as states navigate the complexities of regulation and compliance.

Commentary: Navigating the Future of US Online Betting

GeoComply’s latest report not only illustrates the growing acceptance and normalization of online betting in the US but also highlights the critical role of technology in ensuring a safe, regulated, and responsible betting environment. As the legal online betting industry continues to flourish, driven by technological advancements and regulatory compliance, the focus on consumer protection and the crackdown on illegal betting activities remain paramount. The record-breaking Super Bowl LVIII weekend serves as a testament to the potential of the legal betting market and the positive impact of stringent regulatory standards in fostering a secure and thriving betting ecosystem.