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9 Aspects to Look For in a Top iGaming Payment Provider

Published

6 months ago

September 13, 2024

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Reading Time: 5 minutes

There are hundreds of iGaming payment providers out there. Which one will meet your demands? Many businesses ask this question. Not many get the right answer.

With the global online gaming market expected to reach $127 billion by 2027, getting the right iGaming payment services is paramount. Simply put, the better provider you have, the more customers you can serve, the faster payments will be, and the higher your income you will have.

Yet, choosing the right provider can be challenging, especially with the unique needs of high-risk industries like iGaming. In this piece, we will go through a nine-point checklist. These steps ensure you enter a pool of top iGaming payment providers.

So, buckle up.

European Gaming Congress 2024 (Warsaw, Poland)

1. Verify If an iGaming Software Provider is High-Risk Friendly

iGaming is a high-risk industry. That means higher fees and more scrutiny. Choose a provider specialising in high-risk sectors to avoid disruptions and reduce transaction rejections.

Keep note: Not all payment providers are willing to work with high-risk industries, leading to potential delays or increased fees.

The right iGaming payment provider must have these aspects to be truly high-risk friendly:

Have no volume restrictions
Understand the industry to the bone
Provide a dedicated account manager with expert knowledge of the sector
Support licenses in different jurisdictions

2. Check How Long It Takes for an iGaming Payment Provider to Open a Business Account

Now, you narrowed down the list of best payment providers for iGaming. The next important question to ask:

How long will it take to open a business account?

In most cases, when you need to open a business account, you can expect two challenges:

Lengthy approval process.
A lot of documents to provide.

Many banks does not understand industries like iGaming. That is why they ask tons of unrelated questions and require documents you don’t simply have. As a result, getting a business account can take weeks or months.

A good provider opens a business account for you in several weeks. A great iGaming software solutions provider opens a business account in about 48 hours.

https://account.paydo.com/en/auth/business/sign-up

3. Make Sure an iGaming Payment Provider Has SWIFT In Their Arsenal

For international transactions, SWIFT is a must. This scheme allows for faster, more secure iGaming transactions. It reduces delays and ensures smooth processing of player deposits and withdrawals.

Without SWIFT, iGaming operators risk slower processing times and dissatisfied players. Yet, the rule of thumb dictates that the more payment schemes you have access to the better.

4. Does iGaming Payment Provider Offer Multiple Currencies?

This should be your next question. Even if an iGaming payment provider is high-risk friendly, opens a business account fast, and is connected to SWIFT, this does not mean you get many currencies to work with. You still need to pay contractors in their local currency.

Also, setting up a multicurrency account can come at a significant cost. Banks and EMIs impose additional charges for each extra currency you might need.

5. Check If an iGaming Payment Provider Offers Merchant Services

If you have a website accepting payments, you need a good checkout.

What constitutes a “good” checkout?

In most cases, the number of chargebacks, holds, rolling reserves, as well as payment methods available. Besides, you want a checkout that can be easily integrated.

6. What About Mass Payouts?

Every iGaming operator knows how hard it can be to send multiple payments to several customers. When you don’t have mass payments with your iGaming provider, every payment must be made one by one. Without saying, it will take a lot of your time and nerve.

7. Confirm Whether an iGaming Payment Provider Have Virtual and Physical Cards

Virtual and physical cards allow flexibility for both business payments and player withdrawals. They can be used for payouts, ad spending, or corporate expenses. Besides, having a personalised plastic card speaks volumes about your brand.

8. Compliance With Global and Local Regulations

After going through the arsenal of services of a chosen best iGaming payment provider, the next logical step is to look at compliance. You must be sure a selected provider has the legal right to provide certain services and operate in partnership destinations.

To illustrate, as an iGaming payment provider, one should have at least these:

As an add-on, a good iGaming payment provider should have an Authorised Electronic Money Institution (UAB) license. This one allows the platform to issue electronic money and offer related financial services within the European Union (EU) and European Economic Area (EEA).

9. Double-Check the Security Measures an iGaming Payment Provider Implements

For top iGaming payment providers these security measures are non-negotiable:

Built-in anti-fraud.
PCI-DSS Level 1 compliance.
3D-Secure (3DS) technology.
Anti-money laundering (AML) protocols.
Automated KYC.

PayDo—All Payment Solutions in One Place

While all roads lead to Rome, all aforementioned aspects lead to platforms like PayDo.

PayDo is a payment ecosystem. It made sure all the aspects we talked about were covered. Namely, the platform is:

1. High-risk friendly:

1. No volume restrictions.
2. No hidden fees
3. No minimal commitments
4. No minimal balances
5. No nonsense requirements
6. All iGaming licenses (Curacao included).
7. In-depth understanding of high-risk industries.
8. Curacao and other licenses supported
9. A dedicated account manager with extensive experience in iGaming
10. Momentary payouts
11. Scheduled payments
12. 140+ destinations

2. Business account opening:

1. Takes about 48 hours.
2. Completely remote.
3. Requires a standard package of documents.
4. Onboarding is as quick as verification.

3. Nine payment schemes:

1. SEPA
2. SEPA instant
3. Fedwire
4. Target 2
5. FasterPayments
6. Chaps
7. BACS
8. Kronos2

4. Multicurrency:

1. Dedicated IBAN with 35+ currencies and 150 countries.
2. Personal account with 12+ currencies.
3. No extra charges for currencies.

5. Checkout:

1. Zero chargebacks
2. No holds or rolling reserve
3. Easy API integration
4. 350+ payment methods
5. Localization
6. Instant settlements
7. Conversion rate > 98%
8. Unlimited websites

6. Mass Payouts:

1. Automatic payouts without any manual inputs.
2. Customers receive their funds without fees.

7. Virtual and Physical Cards:

1. Offer employees personalized cards.
2. Improve corporate expense management.
3. No limit on issuance.

8. Compliance and Security:

1.Licensed by:

1. 1. FCA.
  2. FINTRAC
  3. UAB.

2.Security measures:

1. 1. Built-in anti-fraud.
  2. PCI-DSS Level 1 compliance.
  3. 3D-Secure (3DS) technology.
  4. Anti-money laundering (AML) protocols.
  5. Automated KYC.
  6. Encryption.
  7. Safeguarding.

Besides, recently PayDo was nominated for the Payment Innovation of the Year award at a

reputable iGaming-focused SBC 2024 convention.

Finally, PayDo have become a SWIFT Direct Participant. Now the platform can send and receive messages directly through the SWIFT network without intermediary banks.

For PayDo clients, it means faster transaction speed and fewer delays.

Conclusion

When choosing a payment provider for iGaming, check these aspects:

High-risk friendly;
Business account opening;
SWIFT availability;
Multiple currencies;
Merchant services;
Mass payouts;
Virtual and physical cards;
Compliance;
Security measures.

The list is that long because top iGaming payment providers like PayDo work hard to develop a solution that will stand out in a competitive market. With PayDo, you get the services of 8-9 payment providers in one place and under one contract.

Don’t hesitate to open an account right now. We are ready when you are!

The post 9 Aspects to Look For in a Top iGaming Payment Provider appeared first on European Gaming Industry News.

Industry Awards

Soft2Bet’s Quickcasino Wins at EGR Europe Awards 2025

Published

15 hours ago

March 10, 2025

George Miller

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Reading Time: 2 minutes

Soft2Bet’s Quickcasino has been awarded “The Nordics and Baltics – Rising Star” at the prestigious EGR Europe Awards, reinforcing its status as one of the region’s most innovative and fast-growing online gaming brands.

This recognition is a testament to Soft2Bet’s commitment to market-leading technology, data-driven gamification, and player-first experiences. By combining cutting-edge mechanics with a highly localised approach, Quickcasino has established itself as a force in Sweden’s competitive iGaming landscape.

‍

A Market Leader in Innovation and Gamification

Quickcasino.se has redefined the Nordic and Baltic iGaming experience, blending seamless UX, high-speed transactions, and a unique gamification ecosystem to keep players engaged. Powered by Soft2Bet’s proprietary MEGA (Motivational Engineering Gamification Application) solution, the platform delivers dynamic challenges, real-time progression, and personalised incentives, creating an experience that is both immersive and rewarding.

Beyond gamification, Quickcasino’s commitment to top-tier security, lightning-fast payments, and market-driven customisation has resonated strongly with Swedish players. Its ability to merge high-performance technology with a player-centric approach, via MEGA, has driven remarkable growth, reinforcing its status as a market leader.

Uri Poliavich, Founder and CEO of Soft2Bet, commented: “Receiving European recognition from one of the leading industry awards is a proud moment for Quickcasino and Soft2Bet. This achievement not only recognises Quickcasino’s rapid success but also highlights how our B2C experience acts as a proof of concept for B2B partners. As we investigate new ways to enhance our offerings, the results we achieve with our brands showcase the power of our technology and help operators elevate player engagement, retention, and performance in highly competitive markets. This award reinforces our ability to drive success for our brands and partners.”

‍

A Future Focused on Growth and Innovation

Quickcasino’s latest accolade adds to Soft2Bet’s growing list of industry recognitions. Looking ahead to 2025, the company is preparing for major market expansions, new strategic partnerships, and continuous advancements in gamification technology. With innovation at its core, Soft2Bet remains committed to pushing boundaries and delivering industry-leading solutions that shape the future of iGaming.

The post Soft2Bet’s Quickcasino Wins at EGR Europe Awards 2025 appeared first on European Gaming Industry News.

Baltics

The Lithuanian Gaming Control Authority (LPT) has completed its inspection: Olympic Casino has been fined almost 8.4 million euros

Published

15 hours ago

March 10, 2025

George Miller

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Reading Time: 3 minutes

The company Olympic Casino Group Baltija (OCGB) did not take sufficient steps to identify the origin of Šarūnas Stepukonis’ losing funds, and the monitoring of his financial transactions was only formal and ineffective. Such violations were identified by the Gaming Supervisory Authority, which conducted an inspection of OCGB’s activities in Lithuania. The company was fined almost 8.4 million euros.

The Gaming Supervisory Authority (LPT) investigated the actions taken by OCGB in response to Š. Stepukonis’ transactions on the company’s gaming website from December 2016 to the end of June 2021. The law obliges gaming operators to ensure that customer funds are not obtained from criminal activities or through participation in such activities. It is also mandatory to verify the origin of the funds. LPT found that the measures applied by OCGB were poor and insufficient, and the monitoring of Š. Stepukonis’ transactions was formal.

Gambling organizers must report suspicious transactions to the FNTT. Š. Stepukonis’ transactions had obvious signs that should have raised suspicions for the gambling organizer. However, the FNTT was not informed about this.

During the inspection, evidence was also collected that Š. Stepukonis’ gambling was irresponsible. The gambling company should have noticed this, especially since the client was assigned a personal manager who saw all of his transactions.

“Instead of finding out whether Š. Stepukonis had a gambling problem or informing the supervisory authority, Olympic Casino encouraged him to gamble even more. An individual incentive package was prepared for him. A total of 1.3 million euros was allocated for this. This “bonus” could only be spent on gambling. Other incentives were also allocated,” – comments on the results of the inspection by LPT Director Virginijus Daukšys.

Since mid-2021, gambling companies in Lithuania have no longer been allowed to offer incentives to their customers that they would later lose. Just before this tightening came into effect, Š. Stepukonis’ virtual gambling was moved from Lithuania to Estonia, where it was still allowed to encourage gamblers.

In this way, it was possible not only to maintain incentives for gambling, but also to avoid supervision by the LPT. If an ordinary gambler from Lithuania tried to go and register on the Estonian Olympic Casino website, he would be redirected to the Lithuanian website. However, in the case of Š. Stepukonis, the redirection was not carried out. These circumstances are part of the pre-trial investigation.

During the inspection, a total of five violations of the provisions of the Law on the Prevention of Money Laundering and Financing of Terrorism and the Law on Gambling were identified.

The law allows for a fine of up to twice the amount of damage caused. The damage was determined to be 6.4 million euros – the amount Š. Stepukonis lost at the Olympic Casino in Lithuania. When calculating the fine, an aggravating circumstance was taken into account – the company did not cooperate during the inspection.

According to V. Daukšys, after this story came to light, steps were taken to prevent similar cases from recurring. The most important change is the law, proposed by the LPT, which obliges gambling companies to take action upon noticing irresponsible gambling and to provide information about it to the LPT.

“Until now, there was no such obligation. Therefore, the LPT did not have information that would allow it to take preventive actions in advance,” says V. Daukšys.

The new Gambling Law will come into force in November this year. Its aim is to reduce the accessibility, attractiveness and potential harm to personal health of gambling.

LPT also reviewed its procedures, adjusted internal procedures, allowing for more frequent scheduled inspections of the activities of gambling companies. In addition, the Ministry of Finance conducted an audit of LPT’s activities. No significant operational deficiencies were identified during the audit. LPT took into account the audit recommendations and allocated more human resources to money laundering prevention functions.

Source: Gambling Supervisory Authority under the Ministry of Finance of the Republic of Lithuania

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Conferences in Europe

Forging Strong Partnerships: SYNOT Games on Market Growth & Client Success

Published

16 hours ago

March 10, 2025

George Miller

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Reading Time: 3 minutes

HIPTHER, organizer of the Prague Gaming & TECH Summit 2025, is proud to present SYNOT Games, our Lanyards Sponsor, and a leading force in the iGaming industry. SYNOT Games has built a reputation for innovative, high-quality slot content, boasting a portfolio of 180+ certified games and “unleashing digital delights” across over 40 jurisdictions.

In this exclusive Sponsors Spotlight interview, we sit down with Dagmar Cvrckova, Head of Strategic Partnership, to discuss their expansion across global markets, business-oriented approach to clients, and what’s next for their growing portfolio.

SYNOT Games has successfully expanded into multiple regulated jurisdictions, from Europe to emerging markets. What factors drive your decision-making when entering new territories, and what challenges do you see in the current regulatory landscape?

Our expansion strategy rests on three core pillars: market potential, regulatory stability, and demand for unique content we develop. Before entering a new jurisdiction, we conduct comprehensive research to assess the player base, competitive landscape, regulatory requirements and operator demands.

Navigating compliance is one of the biggest challenges in the iGaming industry, as regulations are constantly evolving and changing. We take proactive steps by working closely with regulators, ensuring our games meet all certification standards, and staying ahead of legal changes. This approach ensures robust compliance and keeps us well positioned to capitalize on emerging opportunities in new markets.

With a portfolio of over 180 certified games, how does SYNOT adapt its content to meet the preferences of diverse player demographics across various regions?

Player preferences vary widely across regions, and our game development strategy is deeply rooted in data-driven decision-making. For example, while European players often favor classic slot mechanics and high-volatility games, Latin American markets prefer vibrant themes and engaging bonus features.

We analyze player behavior, session data, and engagement rates to fine-tune our content. Our localization goes well beyond language translation; it encompasses a complete adaptation of the gaming experience, including themes, payout structures, and bonus mechanics – to align with regional trends. But we’re not afraid to experiment either.

This approach allows us to deliver games that resonate with a global audience while staying true to the distinctive SYNOT Games style.

Strategic partnerships are a key focus for SYNOT Games. How do you approach collaborations with operators to ensure mutual success and long-term growth?

Strong and strategic partnerships are built on flexibility, customization, and shared goals. We don’t believe in a one-size-fits-all model. Instead, we work closely with our partners to deliver customized offerings – including exclusive games and tailored promotional tools – that drive player engagement and retention.

The key to our success is our ability to adapt, whether through customized game offerings, innovation, marketing support or technical solutions. This collaborative approach ensures sustainable growth for both parties.

SYNOT Games prides itself on “unleashing digital delights”: delivering original content adaptable to any operation configuration and needs. How do you balance innovation with maintaining a consistent and engaging player experience?

Innovation is at the heart of everything we do, but our approach is always player-first. We continuously experiment with new mechanics, themes, and features, but we also maintain the core elements that players love – intuitive gameplay, engaging graphics, and rewarding experiences. However, it is essential to strike a balance between innovations and solutions that are both effective and engaging for players, whether they are directly part of the games or retention tools.

The PEAK (Player Engagement & Acquisition Kit) is a prime example of a powerful retention tool that unlocks exciting new reward options and simplifies promotion management. It allows operators to set promotions according to their needs. And the best part? We’re continuously enhancing it with new features to keep engagement at its peak.

Of course, every innovation must be developed with a deep understanding of the regulatory landscape, ensuring compliance while delivering an exceptional gaming experience across different markets.

As a Lanyards Sponsor and key participant in this year’s Summit, what insights will SYNOT Games bring to the discussion, and what makes this event an essential platform for industry collaboration?

Of course, every innovation must be developed with a deep understanding of the regulatory landscape, ensuring compliance while delivering an exceptional gaming experience across different markets.

With SYNOT Games leading the way in market expansion and client partnerships, the Prague Gaming & TECH Summit 2025 is set to offer exclusive insights into the evolving iGaming landscape. Don’t miss the chance to connect with top industry professionals, explore the latest trends, and engage in thought-provoking discussions.

Join us on 25-26 March 2025 in Prague – Register now and explore the full agenda!

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