GeoComply for Sportsbooks
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CONTENTS
WHAT IS GEOCOMPLY?
GeoComply is a solution software that allows companies to verify the location and authenticity of its users. It provides its product for several industries including media and entertainment, financial services, and online gaming.
Operators such as BetMGM, bet365, FanDuel, and Caesars use GeoComply to ensure the location of its players.
Updated on : 12/21/2024
WHAT DOES GEOCOMPLY OFFER SPORTSBOOKS?
GeoComply is a useful tool for sportsbooks considering the legality of sports betting varies state-by-state. Sportsbooks must know, with complete certainty, where their users are when placing wagers.
If any users place wagers on a sportsbook’s site or app from a state in which sports betting is illegal, there could be harsh legal ramifications for both parties.
Overall, GeoComply attempts to provide a one-stop-shop service for sportsbooks that will protect them and their users from illegal and potentially dangerous behavior.
It does so through a series of products that each serve a unique purpose in identifying fraud and suspicious activity.
GEOCOMPLY CORE
For sportsbooks, GeoComply Core’s main purpose is to gather, verify, and analyze multi-source location data to ensure sportsbooks are not allowing fraudulent users to place bets on their site or app.
Through sophisticated machine learning algorithms, GeoComply Core discerns patters in fraudulent behavior and constantly updates its rules and logic that fight new threats.
In addition to location data, GeoComply Core also collects and examines information on devices. Its intention is to recognize fraudulent device activity such as jailbreaking and using fake location apps.
By acquiring and processing location and device information, GeoComply Core can alert sportsbooks like BetMGM of things like illegal account activity and account sharing.
Think of GeoComply Core as a massive data-collection tool.
GEOCOMPLY HUB
GeoComply Hub takes all of the data that was collected from GeoComply Core and presents it to the customer in a way that allows them to make informed decisions.
It allows the customer, or the sportsbook, to view dashboards and reports that summarize the biggest findings from the data. From there, sportsbooks are able to do their own analysis that helps them determine where their biggest risks lie.
Through GeoComply Hub, sportsbook operators like FanDuel can create or set rules that auto-block fraudulent users. They can also see the reasoning behind any alerts, get background information on payment disputes, and analyze patterns of suspicious behavior from users.
RISKGUARD
GeoComply’s RiskGuard product aims to identify more sophisticated location and identity fraud. Some key features include recognizing complex location spoofing methods, detecting account takeovers, and creating fraud fingerprints.
RiskGuard also works to uncover users whose location jumps a long distance in a short amount of time. All of its features make an effort to prevent location fraud before it occurs. If suspicious activity does occur, RiskGuard notes it and uses it to flag future suspicious activity.
On top of location fraud, RiskGuard works to unearth account hackers and bots. After long periods of dormancy, hackers may attempt to take over an account illegally, which poses a major threat to security.
GEOGUARD
GeoGuard provides a dynamic list of fraudulent IP addresses and specializes in preventing emerging location fraud threats.
Its technology is intelligent enough to recognize deception methods used by IP hijackers. Hackers and hijackers will sometimes use methods that mask that true nature of an IP address, and GeoGuard is able to thwart that effort before it’s successful.
In addition to detection and recognition, GeoGuard specializes in threat prevention. Through machine learning and human intelligence, it’s able to predict emerging threats, which would allow a sportsbook like DraftKings to eliminate a risk before it develops.
GeoComply’s website even claims that GeoGuard is “approved and recommended by major rights owners for film, TV and sports.”
ID COMPLY
ID Comply acts as an all-in-one solution for Know Your Customer (KYC) and Anti Money Laundering (AML) processes.
For the KYC piece, ID Comply checks users’ personal information against up-to-date jurisdiction requirements through multiple vendors. Performing checks against multiple vendors lowers the chance of failure for ID Comply.
Regarding AML, ID Comply monitors risk in real-time. In essence, it analyzes transactions and cross-references blacklist screenings and more to identify potentially suspicious activity.
While user information is gathered and analyzed, ID Comply only stores applicant data anonymously for user privacy.
PINPOINT
PinPoint is a GeoComply product specifically made for sportsbooks. It has many of the above fraud prevention features built into it, but its main purpose is to provide geo-fencing for retail sportsbooks.
In some cases, retail sportsbooks will allow a user to bet online, through a website or app, as long as the user is on the sportsbook’s physical property. The most safe and efficient way for a sportsbook to ensure its users are not managing to place wagers off the property is by building a custom geo-fence.
PinPoint allows sportsbooks to build a custom geo-fence around their property, and it provides a similar client portal to GeoComply Hub that grants the sportsbook the ability to make more informed decisions through data analysis.
PinPoint’s Beacon Manager portal also allows the sportsbook to continuously monitor its geo-fence and receive status notifications.
GEOCOMPLY FAQ
IF I AM A RESIDENT OF A STATE WITH LEGAL SPORTS BETTING, CAN I BET WHEN TRAVELING OUTSIDE THE STATE?
It depends where you are traveling. If you are in another state where sports betting is legal, then yes, you are able to place wagers.
If you are in a state or jurisdiction where sports betting is illegal, then you will not be allowed to place wagers.
GeoComply’s technology will recognize your location and instantly relay it to the sportsbook.
CAN I ACCESS MY ACCOUNT OUTSIDE OF JURISDICTION BORDERS?
Yes. In almost all cases, you can access your sportsbook account from any jurisdiction. Typically, you can even make deposit and withdrawal requests from anywhere.
The caveat is that you cannot place real money wagers unless you are inside a jurisdiction that allows it, regardless of your home address or where your account was created.
GEOCOMPLY CONCLUSION
GeoComply’s technology and services offer sportsbooks a necessary layer of protection and safety against multiple variations of fraud.
With location tracking, identify verification, geo-fencing and more, sportsbooks have the ability to keep their customers and their own product secure.
GeoComply is a global leader in geolocation security, and sports bettors should take comfort in the fact that their betting platforms are doing everything in their power to protect them.