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Payments crucial to ongoing growth of US online sports-betting market

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Paysafe research reveals that streamlined payouts and alternative payment methods are critical to the market’s success in 2021

Quickly and easily receiving payouts of winnings is the most important factor for U.S. sports bettors when selecting an online sportsbook, and prioritized by 37% of players, according to research released today by Paysafe, a leading integrated payments platform. The latest All the Ways Players Pay report also suggests that offering digital wallets and other alternative payment methods allows sportsbooks to overcome the challenge of card declines.

Based on a consumer survey commissioned by Paysafe in December 2020 in eight regulated iGaming markets – Colorado, Illinois, Indiana, Iowa, Nevada, New Jersey, Pennsylvania, and West Virginia –the research reveals the paramount importance of streamlined frictionless payments to the market’s future success. When choosing an online brand, players are prioritizing fast payouts, and considering this more important than: brand reputation (32%), promotions (28%), competitive odds (27%), and sports markets offered (11%).

Getting payouts right also appears fundamental to customer retention, with 79% of sports bettors left with a negative impression of an online sportsbook if they wait longer than expected to receive funds after making a withdrawal.

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Players’ focus on payouts comes amidst a broader online shift in the U.S. gaming space galvanized by COVID-19. Over two thirds of sports bettors (68%) agree that the pandemic has made them more comfortable with wagering online. Their experience appears very positive, with 61% planning to bet online more frequently in 2021.

Despite strong expected market growth, significant challenges remain in the sector such as customers’ credit and debit cards transactions being declined when they attempt deposits. And this number seems to be growing, with 14% of sports bettors consistently incurring card declines compared to the 10% reported in the inaugural All the Ways Players Pay report of January 2019, suggesting the issue is arguably getting worse.

Card declines inevitably impact a brand’s customer retention and, ultimately, acquisition. Close to half of players (47%) would blame the sportsbook directly for a decline, 45% would leave the brand due to persistent card declines, and 65% would not recommend the sportsbook to peers.

Players’ immediate behavior when faced with a card decline, however, indicates the value of alternative payment methods in helping a sportsbook overcome this challenge. While a card decline would drive 19% of players to leave the sportsbook, 73% would continue to attempt a transaction, with a digital wallet the preferred payment method of choice (35%). One out of ten (8%) would use eCash.

The broader value to operators of alternative payments, and digital wallets especially, is indicated by analyzing high-volume bettors (those who bet more than 7 times a week). While a credit or debit card is the preferred payment method of all players (29%), when focusing exclusively on high-volume bettors, this shifts to digital wallets (favored by 35%).

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The ability of digital wallets to move funds quickly and easily between multiple sportsbook accounts appears to be the rationale for this preference, with 84% of such players considering this important when wagering.

eCash is the other major alternative payment method helping operators to meet player needs. Confidence in the security of online transactions is improving, with 64% of sports bettors saying they are more confident in making a deposit than they were a year ago, though concerns remain. And operators may be able to reassure such concerns with a payment offering that includes an eCash solution, which negates the need to share bank account or card details online, with 54% considering this the most secure payment method.

Philip McHugh, Paysafe’s CEO, commented: “Since the 2018 U.S. Supreme Court repeal of the federal ban on sports betting, the market has shown incredible growth, most recently in the online and mobile space during the COVID-19 pandemic. Against the backdrop of additional states regulating iGaming, our research indicates that the online market will continue to expand in 2021 and beyond – and payments will play a critical role in helping operators drive that growth.

He added: “Payments is a fundamental consideration when players choose and stay with a sportsbook, so it’s vital that operators and the wider market streamline how players deposit, wager, and receive winnings as a result. Card declines remain a significant issue, and as industry stakeholders work to address this, operators can leverage digital wallets and eCash to provide players with alternatives that complete their payment offerings.”

Visit Paysafe’s iGaming page for more information on how the company serves the industry. 

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ELK Studios Expands Partnership with SkillOnNet to Ontario Market

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PlayOJO, SlotsMagic and SpinGenie to carry ELK Studios’ games in Ontario

Global entertainment brand SkillOnNet and innovative Swedish game creator Elk Studios have cemented their longstanding partnership with the launch of ELK’s groundbreaking portfolio in the Ontario market.

ELK Studios is responsible for some of the industry’s most innovative and engaging online casino games. Now, players at SkillOnNet’s Ontario-licensed casinos, PlayOJO, SlotsMagic and SpinGenie, will be able to experience the feature-packed delights of hit titles like Nitropolis, Tinkerbot and Pirot, as well as new release Orbitfall, and the studio’s signature X-iter and CollectR mechanics.

The expansion marks a milestone for ELK Studios as it continues to grow its footprint in regulated markets worldwide. SkillOnNet recently successfully launched the studio’s portfolio in the Spanish and Mexican markets through its Spanish-language brands and expects the studio’s games to make a similarly immediate impact with Ontario players.

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Ontario has become a hugely important growth market since the province launched regulated online gaming in 2022. It was worth $2.4 billion in 2024, with $63 billion in wagering, the lion’s share coming from online casinos.

Jani Kontturi, Head of Games at SkillOnNet said: “ELK Studios is known for its high-quality games that blend unique storytelling and humour with high levels of engagement and playability, which is why we’re delighted to introduce them to Ontario. We believe they will perform successfully, as they have in other markets around the world.”

Vaida Cirtautaite, CCO at ELK Studios said: “SkillOnNet has been an invaluable partner in our growth journey, and we are thrilled to expand our collaboration into Ontario. We’re excited to bring our innovative games to a new wave of players in this dynamic market.”

The post ELK Studios Expands Partnership with SkillOnNet to Ontario Market appeared first on Gaming and Gambling Industry in the Americas.

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Playnetic granted Ontario supplier license

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Global B2B iGaming content provider secures first Canadian market entry following the successful submission and approval of its gaming-related supplier application

Playnetic, the in-demand global B2B iGaming content provider known for its quality games, reliable delivery and outstanding customer service, has announced the approval of its gaming-related supplier application by the Alcohol and Gaming Commission of Ontario (AGCO).

With the AGCO licensing process being recognised in the industry for its rigorous standards and thorough due diligence, the new certification confirms Playnetic was able to meet the high levels of integrity and regulatory compliance needed to legally distribute its content within the province.

As a result of the approval, Playnetic has now secured its first Canadian market entry and will be able to provide its library of innovative games to licensed operators in the Ontario region – with this starting point paving the way for further expansion into other regulated provinces in future.

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Given signs of change emerging within the Canadian market and Alberta making progress toward a regulated online model – likely drawing from Ontario’s framework – this license positions Playnetic strongly to expand its footprint in the country and further solidifies the company’s ambitious growth plans.

In the meantime, Playnetic has already begun making groundwork with key operators in the Ontario region and is looking forward to going live with some exciting brands over the coming months. The company will also be attending SBC’s Canadian Gaming Summit from June 17-19, where both existing and new potential partners alike are welcome to stop by and meet the team.

Dan Phillips, Chief Executive Officer at Playnetic, said: “Acquiring AGCO approval for our gaming-related supplier application is undoubtedly a big step for Playnetic. The new license not only secures our first Canadian market entry, but also reaffirms Playnetic’s position as a trusted provider in iGaming and underlines our commitment to compliance and operational excellence.”

Julian Borg-Barthet, Chief Commercial Officer at Playnetic, said: “We’re very excited to now be in a position to offer our library of innovative gaming content in Ontario, and the groundwork to do that with some of the region’s biggest licensed operators is already underway. Over time, we’re confident this license will also help us expand further into current markets and emerging regulated provinces, such as Alberta.”

The post Playnetic granted Ontario supplier license appeared first on Gaming and Gambling Industry in the Americas.

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BetVictor Canada launches Tracy McGrady Safer Gambling campaign

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BetVictor Canada has launched its new out-of-home advertising campaign across the streets of Toronto to promote NBA legend Tracy McGrady as its Safer Gambling Ambassador.

Two mobile digital trucks strategically targeting high-traffic areas near Scotiabank Arena, Rogers Centre, and major sporting events will provide prime audience exposure for the campaign, scheduled around Toronto Maple Leafs, Toronto Raptors, and Toronto Blue Jays home games.

To further enhance the campaign’s reach, BetVictor Canada has partnered with Clear Media Group to leverage digital taxi tops across Toronto, providing city-wide exposure with 100 taxis displaying key brand messaging. These digital taxi tops will run during peak evening hours (5:00pm – 9:00pm) on select dates until April 5th, 2025.

The campaign coincides with Problem Gambling Awareness Month, a nationwide grassroots campaign held each March that seeks to increase public awareness of problem gambling and promote prevention, treatment, and recovery services.

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BetVictor Canada offers an array of tools and services to help its Canadian customers bet and play safely and responsibly, across a host of sports betting markets and online casino games.

Mark Harper, Head of Emerging Markets at BV Group, said: BetVictor is delighted to be participating in the National Council of Problem Gambling campaign in March, to help increase public awareness of problem gambling and the need to promote prevention, treatment and recovery services.

“In using our Safer Gambling Ambassador, Tracy McGrady, to raise awareness about BetVictor’s safer gambling tools such as loss limits, time alerts and product restrictions we are dedicated to ensuring all players have a safe gambling experience. #PGAM2025.”

The post BetVictor Canada launches Tracy McGrady Safer Gambling campaign appeared first on Gaming and Gambling Industry in the Americas.

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