Exclusive: Xpoint to rival GeoComply in US geolocation market
Miami-based tech firm looks to disrupt compliance market in US with Colorado slated as its launch state
Xpoint, a geolocation and compliance technology firm, is set to enter to US to challenge the market’s de facto monopoly supplier GeoComply, EGR can exclusively reveal.
Xpoint is now available in seven states, with the latest being Colorado, as the firm looks to provide a rival service to GeoComply, which has dominated the geolocation compliance space since regulated igaming first launched in the US in 2013 and claims to have handled more than two billion transactions in 2020.
Due to the state-by-state nature of sports betting regulation in the US, geolocation technology is of paramount importance to prevent customers to bet in states with legal wagering whilst located outside state lines.
Xpoint’s technology detects and circumvents instances of fraud, false data, spoofing and device tampering by running a variety of checks over all data types from customers.
EGR understands Xpoint will soon confirm its first operator partners in the US as it aims to claw market share away from GeoComply.
Marvin Sanderson, Xpoint CEO, said: “Xpoint has launched to innovate the sports betting and igaming compliance landscape in the US.
“Xpoint changes the previous concept of geolocation technology as a regulatory box-checker. Our platform provides our partners with the safe, compliant framework within which they have to operate in the US, and, uniquely in the global geolocation market, with the ability to develop a range of marketing benefits that can be deployed across multiple businesses functions,” he added.