Share
LexisNexis Risk Solutions and Radar are joining forces to create an airtight geofencing solution.
They will combine Radar’s location expertise with LexisNexis’ data chops to help gaming operators stay on the right side of US regulations.
Key takeaways
- LexisNexis Risk Solutions and Radar deliver geofencing technology for US online casinos and the sports betting industry.
- The collaboration combines Radar’s location expertise with LexisNexis Risk Solutions’ capabilities in Know Your Customer (KYC), fraud prevention, compliance, and payments.
- The partnership aims to simplify regulatory compliance for gaming operators, protect players and ensure fair revenue distribution.
What to expect from LexisNexis Risk Solutions and Radar collaboration
LexisNexis Risk Solutions and Radar are revolutionizing the gaming industry with a suite of products and tools. This collaboration ensures devices are geographically compliant, whether that’s within:
- State boundaries
- Sports arenas
- Tribal lands
- Casino floors
- Other regulated venues
But that is not all. They will be combining Radar’s location expertise with LexisNexis Risk Solutions’ capabilities in:
- Know Your Customer (KYC)
- One-time passcodes
- Fraud prevention
- Compliance
- Payments
With this comprehensive solution, gaming operators can streamline customer management, all in one place.
In a Radar press release, Sean Britt, senior director, LexisNexis Risk Solutions, said they are well equipped for the mission they are up against:
“LexisNexis Risk Solutions provides the tools gaming and gambling operators need today to mitigate fraud, identify risk, and help ensure compliance.
By aligning with Radar, we can offer those protections throughout the entire customer lifecycle. The collaboration is timely as the industry navigates a period of rapid expansion and increased regulations.
It represents a proactive approach to addressing the challenges of regulatory compliance in the rapidly evolving landscape of online gaming and gambling.”
Regulatory crackdowns to ensure fair play in online casino revenue output
The US online gambling scene is heating up, with 38 states and DC on board. However, navigating the complex regulatory landscape is no easy feat, as every state has its own guidelines.
With supertight regulatory procedures, the benefits of this solution are boundless. With this solution, players can be assured gameplay is safe. In turn, offshore operators without these assurances will no longer have the upper hand to benefit from states with legal online casinos.
This solution also creates space for positive development in online casinos, brick-and-mortar casinos, and the entire gambling industry. Nick Patrick, co-founder and CEO of Radar added:
“Radar’s extensive expertise in location-based products, coupled with our proprietary algorithms and robust reporting, aligns perfectly with the risk mitigation knowledge and solutions from LexisNexis Risk Solutions.
We are excited to provide our tools and services to gaming and gambling operators, simplifying their compliance processes.”
The US gaming industry is on a hot streak as revenue for Q2 2024 saw $17.63 billion in revenue, marking 14 quarters of consecutive growth.
It was a cash cow for states in Q2 2024, with US commercial gaming generating $3.73 billion in taxes across 24 jurisdictions.
But with great growth comes great responsibility, and regulators are cracking down. Some recent US gaming crackdowns include:
- Borgata underpaying Internet gambling taxes in New Jersey
- Wynn Las Vegas using an unlicensed financial service provider
- Milton Champion, Maine Gambling Control Unit’s Executive Director, at odds with casino inspectors
