Geolocation specialist Radar is ready for its breakout G2E as it sets its sights on leading the gaming industry in the next couple of years.
Radar is debuting Location OS at next week’s trade show in Las Vegas. That includes AI-enabled products that can help sports betting and online casino operators build out customizable reports as well as push offers to players when they visit retail gaming locations.
Co-founder and CEO Nick Patrick told LSR the company is ready to impress potential clients with all the progress made since Radar’s first G2E in 2023.
“I think as we start to share some of the stuff, people are going to be shocked at how much progress we’ve made,” Patrick said. “Credit to the GeoComply folks. They built a really big, impressive business and they are the 800-pound gorilla, but I think things are really going to tip toward us next year and I think it’s going to be surprising.”
Radar has built out gaming segment
Radar has landed deals with three top US sportsbooks so far thanks to the work its done in the gaming segment.
The company is now licensed in more than 20 states and brought on gaming experts from both operators and regulators to improve its industry knowhow.
“The whole package is really, really compelling to people and I think the market is believing more and more as we continue to invest in the product and get more traction in the space,” Patrick said.
Per-user pricing helps fight fraud
There are a few reasons why Radar’s per-user pricing fits what gambling operators need better than the per-check pricing the industry has been used to, Patrick said.
Part of that is the savings as operators could reduce costs by 30% to 50% through a deal with Radar, he said. The best use, however, could be fighting sophisticated fraud rings.
Being able to check a customer’s location as often as a company wants without extra costs while running custom activity reports could stop some of the fraud that is getting through right now, Patrick said.
“You have these really sophisticated fraudsters that have figured out how to get in, do bonus abuse, drain the account in the span of 20 minutes, rinse and repeat,” Patrick said.
Multiple geolocation providers catching on?
Gaming operators tend to sign deals with multiple suppliers for the same services, such as know your customer or payment processing, to ensure their platforms continue to work as they should if one of their suppliers see their services interrupted.
That has not always been the case with geolocation services, though Patrick predicted at the beginning of the year that sentiment would change. Part of that is because of Radar offering a differentiated product, he said.
Another reason is because geolocation contracts sometimes restricted partners from looking for alternatives, according to the Financial Times.
