Xpoint secures authorization for geofencing implementation in 13 additional American regions.
U.S. Geolocation Provider Xpoint Expands Presence in 13 Additional Sports Betting Jurisdictions
Geolocation technology provider Xpoint has secured licenses to offer its services in 13 additional legal online sports betting markets across the United States, including New York, Pennsylvania, and Virginia.
Currently, Xpoint provides geolocation solutions to the exchange wagering platform Sporttrade in New Jersey and Colorado, as well as daily fantasy operator PrizePicks. Additionally, BettorFantasy, FlexFan, PlayStar, and Skill on the Net utilize Xpoint's services.
"Today's multi-licensure announcement is a testament to our commitment to the growing online gaming industry in the USA," stated Manu Gambhir, CEO of Xpoint. "With limited geolocation providers in the market, creating risk for operators and slowing innovation, these additional licenses mark a significant step towards fostering industry evolution and offering the most advanced geolocation platform."
Besides Colorado, New Jersey, New York, Pennsylvania, and Virginia, Xpoint has acquired licenses in Indiana, Iowa, Kentucky, Louisiana, Maryland, Michigan, West Virginia, Wyoming, and the District of Columbia. Xpoint is also licensed in Arizona, Nevada, Ohio, Tennessee, and Ontario, Canada, with pending license requests in Illinois and North Carolina.
Xpoint's geolocation services cater to iGaming, sports betting, and fantasy operators. The company's Xpoint Verify tool, specifically designed for the U.S. market, offers compliance services and deters fraud and spoofing.
All legal sports betting states and Ontario mandate that operators implement geofencing to prevent unauthorized betting from non-legal jurisdictions.
As the online sports betting industry in the U.S. continues to expand, the need for sophisticated geolocation solutions grows. Xpoint's expansion underscores this trend, positioning the company to capitalize on the increasing demand for advanced geolocation services.
Regulatory changes, technological advancements, competition among providers, and expansion opportunities contribute to the dynamic market for geolocation services in online sports betting. Geolocation technology providers must remain adaptable to the ever-evolving regulatory and technological landscape to ensure their services meet the demanding requirements of operators and bettors alike.
- Xpoint's expansion into 13 additional sports betting jurisdictions highlights the increasing demand for advanced geolocation services in the rapidly growing US online sports betting industry.
- With the acquisition of licenses in various sports betting markets such as New York, Pennsylvania, and Virginia, Xpoint is poised to cater to the geolocation needs of operators in these regions, thus reducing the risk of unauthorized betting.
- As technology continues to advance in the field of sports betting, Xpoint's focus on creating risk-mitigating solutions like the Xpoint Verify tool, specifically designed for the US market, ensures compliance with regulatory mandates and deters fraud and spoofing.
