Paysafe expands into mobile sports betting markets in Louisiana and Oregon
HOUSTON–(BUSINESS WIRE)–paysafe (NYSE:PSFE), a leading specialty payment platform, today announced its expansion into the Louisiana and Oregon mobile sports betting markets. The company currently processes sportsbook deposits with major mobile sportsbooks in the Louisiana market, which have recently gone live, as well as several iGaming affiliate programs in the state via Access to income, its technology and marketing services provider. At the same time, Paysafe also entered the Oregon sports betting market to streamline player deposits.
Paysafe has expanded its longstanding multi-state payment partnerships with Entertainment Caesars Inc. (NASDAQ: CZR) and DraftKings Inc. (NASDAQ: DKNG) in the Louisiana mobile sports betting market, the launch of which, when combined with retail sports betting, could lead to a mature market management of $5.1 billion per year , according to the American Gaming Association. Operators plus a new partner WynnBETwhich connected to Paysafe in 2021, can support player deposits by credit or debit card through integration with Paysafe’s payment gateway, with all transactions processed seamlessly.
Paysafe also optimizes conversions for Louisiana sports betting customers through the affiliate software access to income. Several Louisiana sports betting operators, including Caesars Entertainment for its Caesars Sportsbookuse the Income Access affiliate platform to track their affiliate programs.
Simultaneously, Paysafe entered the Oregon market with DraftKings, which it has supported with online payments since 2013 in a processing relationship that now spans 17 states, including New York. With DraftKings now the official sports betting provider of the Oregon LotteryState players can make simplified deposits to their DraftKings Sportsbook app accounts using a credit or debit card through the operator’s connection to Paysafe’s payment gateway.
Paysafe’s entry into the Oregon and Louisiana sports betting markets sees the company now supporting sports betting operators with payments and affiliate marketing in 20 states plus Washington, DC
Zak Cutler, CEO of North America iGaming at Paysafe, said:We are proud to support several operators in the new mobile sports betting market in Louisiana with two important pillars of their customer acquisition and ultimately revenue growth: payments and affiliate marketing. When our entry into the Oregon market is also factored in, we believe our position as the go-to iGaming partner for online payment solutions and affiliate channel has never been stronger.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialist payment platform. Its main objective is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online payment solutions. With over 20 years of online payment experience, an annualized transaction volume of US$100 billion in 2020, and around 3,400 employees in more than 12 locations globally, Paysafe connects businesses and consumers to across 70 payment types in more than 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared towards mobile-initiated transactions, real-time analytics and convergence between physical and online payments. Further information is available at www.paysafe.com.
About Paysafe iGaming
Paysafe brings over two decades of specialist payments experience to the global iGaming and sports betting industries and provides operators with a full suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technologies and services for iGaming operators through its Income Access business unit.
Since opening the US iGaming market in May 2018, Paysafe has consistently affirmed its ambitions to be the payments leader in the growing industry, building on its leadership in Canada and Europe. As of February 14and, 2022, the company supports approximately 75% of carriers nationwide with payment or marketing solutions in 21 jurisdictions. In Canada, Paysafe also holds a leadership position and partners with the majority of iLottery and regulated gaming brands.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for informational purposes only and are not intended to , and should not be relied upon by any investor as a guarantee, assurance, prediction or definitive statement of fact or probability. The actual results of Paysafe Limited (“Paysafe”, “PSFE” or the “Company”) may differ from their expectations, estimates and projections and, accordingly, you should not rely on these forward-looking statements as predictions of future events. . These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially, and potentially adversely, from those expressed or implied by the forward-looking statements. Although the Company believes that its assumptions regarding future events are reasonable, a number of factors could cause actual results to differ materially from those projected, including, but not limited to, factors included in the ” Risk Factors” in our Form 20-F and in other filings we make with the SEC, which are available at https://www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions or circumstances about which any statement is based, unless required by law.
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