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Paysafe Group Holdings Ltd. continued its push Tuesday into making processing online gambling transactions 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 a deal earlier this month to process igaming transactions for Golden Nugget Online Gaming Inc. in Michigan, consumers in Michigan using FOX Bet’s platform can place online wagers 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 states that have legalized online gambling.
Paysafe’s eCash offering enables consumers to make deposits to their FOX Bet account in Michigan. Consumers can make deposits online or via 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 gamblers preferred alternative payment methods to credit and debit cards, the company says.
FOX Bet’s platform enables consumers in Michigan to place online wagers on NFL football, NBA basketball, MLB baseball, and NHL hockey, as well as mixed martial arts bouts and local and international soccer games.
In addition to enabling cash deposits to accounts, Paysafe will support payouts. Winnings can be withdrawn directly into Michigan players’ Skrill accounts and then transferred in real time to their bank accounts.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 winnings as cash from an ATM.
Consumers in Michigan Players in Michigan wanting to wager on FOX Bet’s range of sports markets can use Skrill to make deposits into their sportsbook accounts.
“Americans are keenly embracing alternative payment methods, so integrating our … Skrill and paysafecard solutions, both specifically tailored to sports betting, will ensure that FOX Bet offers all the different ways that players want to pay when they play,” Paysafe chief executive Philip McHugh said in a prepared statement.
Paysafe will continue to look at new opportunities in the online-gambling market in states where igaming has been legalized, the company says.
