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Paysafe Group Holdings Ltd. extended its foray into the booming sports-betting industry, announcing a partnership Thursday with Fubo Gaming, a Chicago-based subsidiary of live TV-streaming platform fuboTV Inc.
Fubo Gaming’s mobile sportsbook and Fubo Sportsbook applications will plug into Paysafe’s platform for credit and debit card payments, the Skrill USA digital wallet, and paysafecard and Paysafecash eCash solutions, subject to regulatory approval. Paysafe expects to begin processing transactions for Fubo during the fourth quarter of this year.
The deal will allow Fubo Sportsbook users to fund their account using a credit or debit card or ACH bank transfer from a checking or savings account. Bettors will also be able to use the Skrill wallet to make secure deposits into their Fubo Sportsbook account. Consumers that prefer to fund their account using cash can deposit money into their account using either paysafecard or Paysafecash. Both eCash solutions are available at thousands of retailers in the United States, Paysafe says.
In addition, Fubo Sportsbook plans to combine data from its betting and streaming platforms with first-party user behavior data from fuboTV to understand consumers’ viewing preferences and recommend relevant bets. Doing so will allow Fubo Gaming to turn passive viewers into active participants, the company says.
“We are building our Fubo Sportsbook to deliver [an] integrated and interactive betting experience, where sports fans can be active and engaged participants of the games they are watching and wagering on,” Scott Butera, president of Fubo Gaming, says in a prepared statement. “To bring that vision to life, we needed a payment partner who was going to provide secure, fast, and easy-to-use solutions for our sportsbook users.”
Sports betting is growing rapidly in the United States, with 25 states and the District of Columbia having legalized either online or retail sports betting as of early September.
