Leading specialized payments platform Paysafe continues to expand its brand across the regulated gambling sector of North America and this time New York State in particular. The company has now joined the Empire State’s recently launched mobile sports betting sector, thus strengthening its position as a top-brand for iGaming payments and affiliate marketing on the continent.
New York decided to legalize mobile sports betting in April last year, and in November, the New York State Gaming Commission greenlit a total of nine operators to lead the expansion. The first several operators started to accept bids earlier this January, as the market is now officially live for New Yorkers to enjoy wagering from the comfort of their homes.
Gaining Access to One More Market
Via its premium payment gateway and by collaborating with the operators Paysafe is processing online deposits and payouts for the Empire State’s brand-new online sports betting regime. Also, the company is powering several operators’ state-based affiliated programs. It is believed that the NYS mobile sports wagering market could reach US$1 billion in annual revenue.
The platform has more than 20 years of experience of collaborating and supporting North American and international gaming operators. Last year alone, the company extended its footprint across Arizona, Connecticut, Louisiana, Michigan, Montana, Virginia, and Wyoming. Also, in Q3 last year the company appointed former DraftKings and Jackpocket leader Zak Cutler.
Mr. Cutler has now been bestowed the responsibility of guiding and leading the company’s new North America iGaming division, which aims to deliver an innovative operator-first growth strategy. The division now supports gaming brands with payments services and affiliate marketing in a total of 18 states, as well as collaborations in Canada, such as one with PlayAlberta, ALC, BCLC, Loto-Québec, and the OLG.
Also last year, operators such as FOX Bet, Golden Nugget Online Gaming, and PointsBet expanded their existing partnerships with the payment platform provider. The company has also acquired several new partners including Fubo Sportsbook, PlayUp, SuperBook™ Sports, and WynnBET who are now using Paysafe’s traditional credit and debit card payments. It also helped out Skrill USA to adjust the wallet for iGaming brands.
The Long-Awaited Launch
After the long wait, New York State officially kicked off its mobile sports betting framework on January 8, 2022. In the morning a total of four gaming operators launched their online sportsbook apps for the state. The four operators were Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive, and the state entered a new chapter of its iGaming industry.
Shortly, after the launch of the first four operators, BetMGM also received all regulatory approvals and became the fifth online sports betting operator in the Empire State. This became reality on January 17, 2022, and it welcomed bettors with some cool bonuses and promotions. For example, there was a risk-free first bet up to US$1,000, as well as an opportunity to wager US$10 and win US$200 on the NFL Wild Card Round.
Source: “Paysafe Strengthens iGaming Market Leadership With New York Entry”, BusinessWire, January 26, 2022