Underdog, an operator of fantasy sports, has partnered with GeoComply, the geolocation supplier. The partnership agreement is for the North American region, replacing their previous geolocation partner, Xpoint. While both bring core elements to the table, it is mostly Underdog that is going to gain a competitive edge after partnering with GeoComply.The access granted to the operator is for Core Suite and Solus Product.
Geolocation service falls under Core Suite with the mission of preventing fraud. This includes identity theft, chargeback, and bonus abuse fraud. It has often been the flagship offering of GeoComply. Only operators with the licensed product can leverage the capabilities of Core Suite.
Fantasy sports operations will be combined with sports betting operations for better utilization of everything that GeoComply has to offer. Making it more interesting is the Solus Product which runs on an HTML5 browser. Hosts do not have to download plug-ins and/or applications to run GeoComply. However, it is specifically for web-based operations and not land-based operations.
Underdog and GeoComly joining hands in the North American region open the door to possibilities. Meaning, Underdog can perform better in the region, and GeoComply can strengthen its offering to later expand its clientele. Details about the partnership going beyond the boundaries of North America are not yet known.
The partnership has started receiving praise from the key personnel of GeoComply. Sam Basile, the Vice President of Business Development & Licensing, has called the partnership with Underdog thrilling, adding that what really made them the leader in the market is their commitment to innovation and compliance.
Matt Garrigan, the Senior Director of Operations at Underdog, has responded to this statement by expressing their pride in working with GeoComply. Matt has further added that the partnership with GeoComply is a key component to make sure that the experience for players on sports betting sites is safe, frictionless, and compliant. The company also said that it has agreed upon a number of market access agreements in many legalised online sports betting states.
The partnership with GeoComply is a part of the ambitious plans of Underdog to lead the industry from the front. In July 2022, Underdog conducted a Series B Funding round and was successful in raising $35 million. The purpose of raising the fund is known to start constructing a licensed sports betting product. Plus, there are plans in the pipeline to expand the team by getting more staff onboard.
The Series B Funding round of Underdog witnessed participation by existing investors like Mark Cuban, Breon Corcoran, and Kevin Durant. They were joined by BlackRock and Acies.
Underdog is currently running a promotion wherein players can see the platform match up to $100 on their first deposit. They can also explore the participation opportunities in the Best Ball tournament to stand a chance of winning a fair share of the prize pool, which is worth $15 million. The winner at the top position takes home $3 million. Underdog is available on desktop and mobile devices.