Sportsbook Payment Gateway and Merchant Account for Your Business
Sportsbook businesses and betting sites are popular around the world. However, many credit card processors consider gambling companies (or any company that takes bets and pays out winnings) a risk. They prefer not to offer them merchant accounts due to the excessive chargeback ratios associated with this industry. However, High risk Pay offers the best solution and support for these sport betting businesses.
High Risk Pay offers specialized sportsbook payment processing services so you can take credit and debit card payments efficiently and safely.
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Why choose High Risk Pay as your merchant services provider ?
SPECIALIZED IN HIGH RISK
We offer high risk merchant accounts to all business types in high risk categories.
Having trouble getting approved for your high risk merchant account? Did you know HighRiskPay approves 99% of all applicants!
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Why High Risk?
Sportsbook Businesses: A Growing Industry
For many, following sports and betting on them are an everyday activity. Thousands of people enjoy watching games and trying to figure out which team will do better, and nearly every competition allows you to bet on it, no matter its size. This is why many businesses take bets and give sports advice as a service, too. The market is booming, and each day brings new profit opportunities for these online casinos and agencies.
Despite sportsbook companies being so popular, traditional financial institutions tend not to want to give their owners merchant accounts or ways to process credit cards. Banks and payment processors consider the risk associated with these activities too high, as this type of business tends to have more chargeback ratios than other industries. In addition, many sportsbook businesses are also based offshore, which can lead to more money laundering and fraud cases.
Most people pay for their bets using credit and debit cards, so these transactions are vital to your sportsbook company’s future. Operating in a high-risk business doesn’t mean you shouldn’t be able to secure a means of processing payments. One workaround you can use to make sure you stay in business and continue to accept credit card payments is using a sportsbook credible payment gateway such as High Risk Pay.
Why You Need a Sportsbook Payment Gateway
If you run a sportsbook company, you don’t want to spend endless hours gathering all the information required to open a high-risk merchant account with a bank or payment processor. And, if you manage to get one, you surely don’t want to risk losing your ability to charge credit and debit cards if the bank believes your gambling company has too many chargebacks or shows consistently fraudulent activity.
A safer way to conduct your business is to use a sportsbook payment gateway for all the online payments generated from sports betting. A gateway is an excellent way to handle the processing of cards and give your customers confidence that their money is safe. It is also an easy way to keep track of transactions which leads to better management of your accounts.
Payment gateways are able to authorize credit card transactions because they connect merchants with payment networks. The information is then transmitted to a payment processor or acquiring bank, and a message is sent to the merchant stating whether the payment was approved or not. Some people confuse merchant accounts with payment gateways. Sportsbook payment gateways let your customer submit their card information and verify them, following strict privacy regulations. Merchant accounts are just a type of bank account that allows your business to take credit card payments for products and services.
If you have a robust payment gateway system in place, you can give your customers more confidence when they pay for their bets. Gateways are great for supporting more types of payments, such as eWallets and PayPal. This can make your business much more flexible and scalable. Sportsbook payment gateways also provide better fraud protection and can prevent penalties and fees due to chargeback. Additionally, many companies also use subscription merchant services in combination with payment gateways to set up and manage automatic billing and regular payments.
Using High Risk Pay As Your Sportsbook Payment Gateway
High Risk Pay offers robust payment gateways ideal for sportsbooks, gaming, and gambling businesses. We work with companies of all sizes to provide solutions for high-risk merchants and can get your sportsbook payment gateway set up in less than 48 hours.
We offer safe, effective ways for payments to be transferred to banks so they can be processed securely. If your business is growing fast, High Risk Pay can also help you carry out transactions while serving a large number of customers at the same time. All the payments that go through our system are secured and encrypted, so third parties and fraudsters cannot access confidential data.
We have a 99% approval rate, require no contracts, and charge no application or set-up fees. You also don’t need to worry about your personal credit status; we care about your business and your potential, not your past (no matter if you have reported bankruptcy or have defaulted on a loan). Apply today to join our High Risk Pay sportsbook payment gateway service and start accepting credit card payments in less than 48 hours.
Frequently Asked Questions
Why use a sportsbook payment gateway?
Any sports betting business is high-risk due to chargebacks stemming from excessive gamblers. Sportsbook payment gateways provide better fraud protection and can prevent penalties and fees due to chargeback.