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The new licence means GeoComply’s Core and IDComply products can be offered to regulated operators in Maryland, with the state poised to launch sports betting in Q4 2022.
The GeoComply products allow operators to utilise the data of visiting customers to improve and streamline know-your-customer (KYC) and anti-money laundering (AML) processes – while helping to mitigate fraud.
GeoComply’s SVP of Compliance Lindsay Slader said of the licence: “We are very excited about the launch of Maryland’s highly anticipated mobile sports betting market. Our team has worked hard to meet Maryland’s rigorous standards.
“Having our licence in hand means that our customers can launch with confidence on day one. We look forward to supporting the compliance needs of operators and providing state regulators with tools and data so they can properly oversee the growth of mobile sports betting in Maryland.”
The news comes as GeoComply – winner of Digital Product of the Year at the Global Gaming Awards 2022 – recently announced it had received a licence to operate in Ohio, which will launch sports betting in January 2023 – following a two-year delay.
Slader said of the Ohio licence grant: “We are delighted to get our licence approved early in the process. Compliance deadlines are coming quickly, and we are in the strongest position to ensure our customers meet the requirements and submit complete and final geolocation procedures by November 2nd.”
Furthermore, Gambling Insider recently spoke to Maryland analyst and legal gambling expert Geoff Fisk about the up-and-coming launch of sports betting in the state.
