Competition within the geolocation sector is intensifying as more services emerge, according to SportsHandle. Previously, GeoComply and EPIC dominated their respective areas, but today’s market is far more saturated and competitive.
In conversations with SportsHandle, representatives from both companies acknowledged that the increase in competition was anticipated.
The Market Saturation Was Foreseen
Sam Basile, VP of business development for GeoComply North America, explained that his company initially stood out due to the superior quality of its product. This advantage, along with the essential nature of their services, allowed them to maintain a monopoly for some time.
As competition grew, GeoComply recognized the need to remain proactive and innovative. The company has since expanded into additional solutions, including know-your-customer protocols, fraud detection, research, and customer activation.
“Our internal moral compass has always been about being bigger, better, and having the best product,” said Basile. “The thought of having additional tools to enhance the customer experience is crucial.”
John Millington, senior director at EPIC Global Solutions, similarly noted that their near-monopoly was due to a unique approach based on lived experiences. EPIC recently saw the departure of several key employees to competitor IC360, which Millington described as a significant loss but not catastrophic.
New Challengers Emerge
Integrity Compliance 360 (IC360), a rebranded entity from US Integrity, is one of the most ambitious challengers. IC360 aims to offer comprehensive gambling-related services, including geolocation, and has partnered with Radar, a proven geolocation technology company.
However, Xpoint, another emerging geolocation company, believes Radar’s broad focus could be a drawback due to the gambling industry’s complexities. Xpoint CEO Manu Gambhir wished Radar luck but criticized its approach.
Xpoint, previously sued by GeoComply for patent infringement, successfully defended its products, sparking further interest from startups in the geolocation space. Gambhir noted that not all new entrants would survive in the competitive market.
Despite the challenges, Xpoint aims to lead by introducing Trust Mode, a solution that reduces geolocation service checks by over 20% while maintaining compliance.