LexisNexis Risk Solutions Aligns with Radar to Deliver Gaming and Gambling Regulatory Compliance

Rhea-AI Summary

LexisNexis Risk Solutions has announced a strategic alliance with Radar, a leader in geofencing technology, to develop compliance solutions for the gaming and gambling industry. This collaboration aims to ensure that devices used for online gambling in the United States comply with state regulations. The alliance comes as the sector experiences record-breaking revenue of over $66 billion annually, a 10.3% year-over-year increase.

The partnership will integrate Radar's geofencing capabilities with LexisNexis Risk Solutions' data and technology to create tools that verify devices are within appropriate legal jurisdictions. This solution addresses the complex regulatory landscape, with 38 US states plus DC having legalized mobile gambling. The collaboration will enable operators to manage the entire customer lifecycle, including KYC, fraud prevention, and compliance, in a seamless manner.

Positive

• Strategic alliance with Radar to develop compliance solutions for the gaming and gambling industry
• Addressing a growing market with record-breaking revenue of over $66 billion annually
• Expansion into 38 US states plus DC that have legalized mobile gambling
• Integration of geofencing capabilities with advanced data and technology for comprehensive compliance solutions

Negative

• None.

Companies will develop a suite of products and tools designed to ensure that devices are within the appropriate legal jurisdictions.

ATLANTA, Sept. 19, 2024 /PRNewswire/ -- LexisNexis^® Risk Solutions today announced a strategic alliance with Radar, a recognized leader in geofencing technology. This collaboration integrates Radar's robust geofencing, mapping and geo-compliance capabilities with the advanced data and technology from LexisNexis^® Risk Solutions. Together, they will deliver a robust solution for gaming and gambling operators, that will help ensure that devices used for online gambling in the United States comply with applicable state regulations.

This alliance emerges at a pivotal time for the gaming and gambling sector, which is experiencing record-breaking revenue of more than $66 billion annually, marking a 10.3% YOY increase, according to the American Gaming Association (AGA). This growth has driven the development of new regulations aimed at preventing law circumvention and addressing unregulated electronic gaming devices, which the AGA says generate an estimated annual revenue of up to $44.2 billion.

Currently, 38 US states plus the District of Columbia have legalized mobile gambling, with more states considering the legalization of various forms of online betting. The regulatory landscape is complex, with each state having its own set of rules and considerations for gambling and gaming companies operating within its jurisdiction.

LexisNexis Risk Solutions and Radar are collaborating to develop a suite of products and tools designed to help ensure that devices are within the appropriate legal jurisdictions, whether that be state boundaries, sports arenas, tribal lands, casino floors or other venues. Combined with capabilities in know your customer (KYC), one-time passcodes, fraud prevention, compliance and payments from LexisNexis Risk Solutions, this alliance will enable operators to manage the entire customer lifecycle seamlessly with singular alignment.

"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," said Sean Britt, senior director, LexisNexis Risk Solutions. "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." 

"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," said Nick Patrick, co-founder and CEO, Radar. "We are excited to provide our tools and services to gaming and gambling operators, simplifying their compliance processes."

Click here to learn more about how LexisNexis Risk Solutions serves the gaming industry.

About LexisNexis Risk Solutions
LexisNexis^® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.

About Radar
Radar is the all-in-one location platform. Companies like Sleeper, DICK'S Sporting Goods, Panera, T-Mobile, and Zillow use Radar's geofencing SDKs and maps APIs to power location-based experiences across hundreds of millions of devices worldwide. To learn more about Radar's offerings, visit radar.com.

Media Contacts:
LexisNexis Risk Solutions:
Marcy Theobald
678.860.3639
Marcy.theobald@lexisnexisrisk.com

Radar:
Phil Sidoti
518-334-0442
philip.sidoti@radar.com

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SOURCE RADAR

FAQ

What is the purpose of the LexisNexis Risk Solutions and Radar alliance for the gaming industry?

The alliance aims to develop compliance solutions that ensure devices used for online gambling in the United States comply with state regulations by integrating geofencing technology with advanced data and risk management capabilities.

How much annual revenue is the US gaming and gambling sector generating according to the PR?

According to the American Gaming Association, the US gaming and gambling sector is generating record-breaking revenue of more than $66 billion annually, marking a 10.3% year-over-year increase.

How many US states have legalized mobile gambling as mentioned in the LexisNexis Risk Solutions press release?

The press release states that 38 US states plus the District of Columbia have legalized mobile gambling, with more states considering the legalization of various forms of online betting.

What specific capabilities will the LexisNexis Risk Solutions and Radar alliance offer to gaming operators?

The alliance will offer a suite of products and tools designed to ensure devices are within appropriate legal jurisdictions, combined with capabilities in KYC, one-time passcodes, fraud prevention, compliance, and payments, enabling operators to manage the entire customer lifecycle seamlessly.