April 4, 2023 (Vancouver, BC) — Leading fraud and risk solutions provider GeoComply has released its Ontario Anniversary Risk Report to celebrate the first year of regulated iGaming and online sports betting in Ontario.
As the leading provider of geolocation and anti-fraud services to Ontario’s licensed iGaming and online sports betting operators, GeoComply’s data provides compelling evidence that Ontario’s regulated market is attracting attention from around the world.
The report highlights:
- 19.9m login attempts worldwide
- Over 219,000 login attempts from devices associated with fraud
- GeoComply has detected 1,045 fraud rings affecting multiple operators
GeoComply Director of Risk Services Danny DiRienzo commented, “Online fraud is not uniquely a sports betting or iGaming problem. Recent data shows that cybercrimes were up 50 per cent in 2022 across all forms of e-commerce. However, our industry’s high standards of compliance put us in a strong position to combat it. Because every bettor must verify their location, we have the data to stop fraud before it gets a foothold.”
The report highlights the success of the regulated market in protecting consumers from rogue operators and fraudsters while promoting responsible gambling.
The full report can be viewed here.
GeoComply’s data does not purport to be definitive or represent the entire market in Ontario or any other jurisdictions but is intended to provide general insights into relevant market dynamics.
About GeoComply Solutions Inc.
GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user’s true digital identity. Trusted by leading brands and regulators for the past 10 years, the company’s geolocation solutions are installed on over 400 million devices and analyze over a billion transactions every month.
Our award-winning products are based on the technologies developed for the highly regulated and complex US online gaming and sports betting market. Beyond iGaming, GeoComply provides geolocation fraud detection solutions for streaming video broadcasters and the online banking, payments and cryptocurrency industries, building an impressive list of customers, including Akamai, Amazon Prime Video, BBC, BetMGM, DraftKings, FanDuel, and Sightline.
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