Paysafe Continues Push In Online Gambling Through Expanded Agreement With FOX Bet – Digital Transactions

Paysafe Group Holdings Ltd. continued its efforts on Tuesday to make online gambling transaction processing a larger part of its business by expanding a partnership with FOX Bet, a U.S. online and mobile sports betting platform operated by Flutter Entertainment plc .

Under the terms of the deal, which follows an agreement earlier this month to deal with video game transactions for Golden Nugget Online Gaming Inc. in Michigan, Michigan consumers using the FOX Bet platform can place bets online using Paysafe’s Skrill digital wallet and paysafecard eCash. Previously, FOX Bet offered Paysafe’s Skrill Wallet to consumers in Colorado, New Jersey and Pennsylvania, all of which have legalized online gambling.

Paysafe’s eCash offering allows consumers to make deposits to their FOX Bet account in Michigan. Consumers can make deposits online or via a mobile device in denominations of $ 10, $ 25, $ 50 and $ 100, using a 16-digit code.

The addition of the Skrill Wallet and eCash is part of Paysafe’s plan to offer online players preferred alternative payment methods to credit and debit cards, according to the company.

FOX Bet platform allows Michigan consumers to place online bets on NFL football, NBA basketball, MLB baseball and NHL hockey, as well as mixed martial arts fights and local football matches and international.

In addition to allowing cash deposits to accounts, Paysafe will support payments. Winnings can be withdrawn directly to Michigan players’ Skrill accounts and then transferred in real time to their bank accounts. Customers can also use the Skrill Visa Prepaid Card to withdraw their cash winnings at an ATM.

Michigan Consumers Michigan players who wish to bet on FOX Bet’s range of sports markets can use Skrill to make deposits to their sports betting accounts.

“Americans are keenly embracing alternative payment methods, so integrating our … Skrill and paysafecard solutions, both specifically tailored for sports betting, will ensure that FOX Bet offers all the different ways players want to pay when they pay. play, “Philip McHugh, CEO of Paysafe said in a prepared statement.

Paysafe will continue to seek new opportunities in the online gambling market in states where gambling has been legalized, the company said.

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