Genius Sports, the leading sports data technology company secured online sports betting supply licenses in Michigan and Virginia. As a result, the company will be able to power the marketing and sportsbook services of licensed operators in both states.
MI Regulator Grants Genius Sports Online Sports Betting Supply License
The leading sports data technology company, Genius Sports Group announced that it received online sports betting supply license from the Michigan Gaming Control Board on Monday this week. By receiving the license from the regulator, the company can now power sportsbook and marketing operations of licensed operators in the state via its Betgenius and Genius Sports Media companies.
The sports betting market in Michigan launched officially last week on Friday, January 22. Now, with the help of this online betting supply license, Genius Sports will be able to start supporting sportsbook operators instantly in the 10th most populated state in the U.S.
“Across the U.S., states are recognizing the potential of online sports betting.“
Jack Davison, chief commercial officer at Genius Sport
In a statement, Jack Davison, chief commercial officer at Genius Sport said that more U.S. states are recognizing the potential of online sports betting. He added that while more states are building momentum towards legalization, Genius will continue to work for obtaining state licenses so that it can support its sportsbook partners and continue gaining market share.
The Company Receives Sports Betting Supply License in Virginia Too
Besides the market entry in Michigan, Genius secured a sports betting supply license in Virginia as well. Announced once again on Monday this week, Virginia’s Lottery awarded the operator sports betting supply license. As a result, the company is going to power the marketing and sportsbook operations of licensed operators in Virginia with the help of its Betgenius and Genius Sports Media companies. Similar to Michigan, Virginia launched its sports betting market last week, on January 21. Consequently, FanDuel was the first operator to launch its product in the state on the day.
“With a population of over 8 million, Virginia’s online sports betting market has significant potential,”
added Davison
Speaking about the entry of Genius Sports in Virginia and Michigan, Davison stressed that this is “evidence of the significant commercial and regulatory tailwinds propelling our industry“. Furthermore, he added that the online sports betting market in Virginia has significant potential, considering the 8 million people living there.
Davison supported the launch deeming it as “timely” and acknowledged that the local fans can now legally bet just in time for the Super Bowl LV. In conclusion, he said that Genius Sports cannot wait to work with its partners to deliver the best in-game experiences. Following the launch in Virginia and Michigan, by now, Genius Sports is live and operating in 11 U.S. states.