GeoComply: Maryland’s Thanksgiving Holiday Betting Starts Big

Maryland is set to receive a boost from the launch of mobile sports betting, a new report by GeoComply, a geolocation and compliance company, noted. The company recorded 16.5 million transactions over the course of the US Thanksgiving Holiday, the company wrote in an official blog update.

Beating All Expectations During the Thanksgiving Holiday

Commenting on these results, GeoComply SVP compliance Lindsay Slader said that the launch of a newly regulated market meant more revenue and better consumer protections. Marylanders are expected to continue abandoning offshore and illegal gambling sportsbooks, and re-orient themselves towards the regulated sector where tax dollars are being channelled back into the jurisdiction and whether their personal information is safe.

There has been a strong argument for mobile betting in the state as well, with many lawmakers, Governor Larry Hogan included, arguing that interactive sports wagering would translate into even better tax revenue that can fund the Blueprint for Maryland’s Future Fund. GeoComply offered a breakdown of the mobile betting action that started last Wednesday, November 23. The company covered the period through Sunday, November 27, which was loaded with sports betting events, including NCAAB and NBA games, NFL weekend, and the World Cup in Qatar.

According to GeoComply, there have been 477,365 unique accounts participating across seven operators. The company cited 16.5 million geolocation transactions and 3.7 million geolocation transactions on Thanksgiving Day alone. GeoComply observed that the local market in Maryland, which was freshly launched, beat markets in neighboring states and other states that have had mobile sports betting for a while.

Maryland did better than Colorado and Virginia, Tennessee, and Indiana, and came after New Jersey which reported 17.1 million transactions. GeoComply believes that Maryland’s interest in sports betting will translate to improving the state’s budget and bolstering its education plan. Even though Maryland has roughly the same population and even a smaller population than neighboring states, it has been able to see almost double the number of unique accounts.