There is increased heat on the daily fantasy sports industry recently, particularly after the Ohio Casino Control Commission (OCCC) called out the industry and said they would look into sites “masquerading as games of skill.” That is not stopping the major players in the game from moving forward with their plans though.
Underdog announced on Tuesday that it signed a new deal with GeoComply for the company to be the geolocation provider for the DFS company.
“We are thrilled to be working with Underdog. With its customer focus and commitment to product innovation and compliance, it has quickly become one of the market leaders in the daily fantasy sports market,” said GeoComply VP of Business Development & Licensing Sam Basile.
Many thought DFS would fall by the wayside with the widespread adoption of sports betting, but new groups like Underdog and PrizePicks are finding success both in states with and without regulated sports betting. Underdog recently completed a Series B round of funding which led to a $485 million valuation of the company. The release noted that this deal will cover not only the DFS product but a forthcoming sports betting product from Underdog as well.
“We are proud to work with partners like GeoComply to meet our commitments to our customers and regulators. This partnership is a key component of ensuring that our customers benefit from a safe, compliant, and frictionless experience,” added Underdog Senior Director of Operations Matt Garrigan.
The announcement comes just five months after Underdog announced a partnership with geolocation firm XPoint.