GeoComply records over one million accounts in New York market

GeoComply says more than one million accounts have been created across authorized sportsbooks in New York since its mobile sports betting market launched.
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GeoComply has compiled data showing that more than one million accounts have been created across the five authorized sportsbooks in the state of New York since its mobile sports betting market launched.

Caesars Sportsbook, DraftKings, FanDuel, Rush Street Interactive, and BetMGM were the first five out of nine licensed operators to be approved by the New York State Gaming Commission to process mobile sports wagering in the Empire State.

GeoComply data has revealed that from the New York market’s launch on January 8: 1.2 million accounts are active in the state, with 878,000 unique players – more than New Jersey and Pennsylvania combined over the same period; only 9.3% of NY players have placed bets previously in NJ, easing cannibalization concerns; and 770,840 (87.8%) of NY players are brand new to regulated online sports betting (never before seen in GeoComply’s systems).

Lindsay Slader, Managing Director of Gaming at GeoComply, commented: “The momentum of New York’s sports betting launch has continued and it is mostly home-grown. The vast majority of users are brand new to regulated sports betting in the US.

“The data tell us that New Yorkers are dumping illegal sportsbooks for the new legal options and operators are also excelling at attracting first-time bettors.”

GeoComply data also showed that: New Yorkers are mostly loyal to one sportsbook so far, with an average of 1.36 accounts per player; geolocation transactions (not equivalent to total wagers, but a strong indicator of market activity) on the second weekend (17.9 million), exceeded transactions from launch weekend (17.2 million); and NJ is unaffected by the NY launch, averaging 12.6 million geolocation transactions the two weekends before the launch and 13.1 million the two weekends since the launch.

“New York hasn’t failed to dazzle us, but we are also impressed by the sustained growth of the overall sports betting industry. We can’t wait to share how many more GeoComply data records are broken from now through the Super Bowl,” concluded Slader.