Not too long ago, Paysafe Group Holdings partnered up with FOX Bet, an increasingly popular online and mobile sports betting platform in the country. As a result of this partnership, Paysafe will now process all of Fox Bet’s customer’s online transactions in Michigan including deposits and withdrawals. Punters in Michigan on the FoxBet platform now utilize Paysafe’s Skrill digital wallet, as well as the Paysafecard eCash with ease.
This is not the first time that Paysafe is partnering up with Fox Bet. Paysafe has a long-standing relationship with FoxBet’s parent company Flutter Entertainment. In particular, Paysafe has been providing payment solutions to Betfair and PokerStars for more than 10 years now.
As a result of this partnership, FoxBet now offers Paysafe solutions to 3 states, Colorado, Pennsylvania, New Jersey, as well as Michigan, which are all states that have legalized online gambling. For years, FoxBet has been offering its customers in Colorado, New Jersey, and Pennsylvania a skrill payment option.
However, the recent addition of Paysafecard and Skrill will allow Fox Bet to better serve its customers. More and more online gamblers are choosing to deposit money using alternative methods to credit and debit cards. Digital wallets such as Skrill are not only great because they are convenient, but they are also fast and secure.
As a result of this partnership, Michigan punters looking to wager on the wide array of sports markets including NBA, NHL, and Mixed Martial Arts will use Skrill to make swift and secure payments into their FoxBet accounts. The integration of Paysafe for Michigan punters makes Paysafe the first eCash solution for punters in the state.
In addition to making deposits, FoxBet customers in Michigan can also use Paysafe to withdraw their winnings. Players can withdraw their cash to their Skrill accounts and later transfer this amount to their bank accounts in real-time. Bettors can also use the Skrill pre-paid Visa card to withdraw their cash from most ATMs in the country.
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Paysafe has had a strong 2021 so far
In addition to partnering up with Fox Bet, Paysafe also joined forces with Golden Nugget in Michigan. Golden Nugget Gaming MI customers now use Paysafe for deposits and withdrawals. Paysafe is also expected to power Golden Nugget’s payment system in West Virginia and Pennsylvania in the next coming months.
Most recently, Paysafe was awarded the Payment Provider award for its innovative payment solution that allows online operators to access a full suite of payment methods in a single, streamlined integration. This is the first time this award has been given at the EGR North America Awards, which just goes to underscore Paysafe’s important role in the iGaming industry.
Paysafe has remained steadfast in its continued North American expansion of its unified payment solution, which allows operators to offer their customers a mix of traditional and alternative payment methods all under one roof. Paysafe’s platform has a payment gateway that was designed by the company. However, it also has digital wallets and eCash, which gives customers more variety than ever before.
In the last year or so, Paysafe has done an excellent job of responding to the demands of the modern punter. Paysafe has worked extremely hard to prioritize initiatives that spur innovation including those innovations associated with alternative payment methods, as well as advanced authentication technologies aimed at fraud prevention in the gambling space.
By highlighting its services for modern, tech-savvy punters that prefer to gamble on the move, Paysafe has managed to position itself as the top iGaming payment provider. Indeed, Paysafe is affiliated with some of the biggest and best names in the gambling sphere in Canada as well as America. It is these types of high-profile relationships that will allow the company to keep expanding into more states.
FoxBet enjoys a strong presence in Michigan
Ever since it launched its services in Michigan right before the Super Bowl LV Fox Bet has been growing rapidly. Michigan was the 4th state to legalize iGaming, joining the ranks of New Jersey, Pennsylvania, as well as Colorado. Since its launch in the state, FoxBet has been taking full advantage of the relationships it has with online gaming, as well as the country’s media.
This is one of the top components that has allowed FoxBet to stand out among well-positioned competitors such as BetMGM and DraftKings among others. FoxBet’s long standing relationships with online poker, as well as football, in particular, have helped the operator’s growth immensely.
Fox’s established and respected name in the sporting industry has definitely helped its brand recognition among punters. Fox has harnessed the power of the PokerStars and Fix brands to attract customers in the super crowded sports betting market. Fox enjoys customer traffic from FS1, as well as foxsports.com which broadcasts to millions of sports fans with its NFL broadcasts, which are some of the most-watched programs in the country.
In Michigan, the Fox brand is especially revered as it enjoys rights to broadcast some of the most popular teams in the NFC, as well as the NFL conference that covers home state champions the Detroit Lions. Fox is also affiliated with the Big Ten, which consists of some of Michigan’s most popular college programs including the State Spartans and the Wolverines.
Today, the Wolverine state is one of the most lucrative sports betting markets in the country. Just look at the numbers; they don’t lie. In June 2021, net income tax revenue equaled $1.1 billion June 2021. This was a massive 20.4% boost from June 2020 and $177.8 million beyond the predicted amount.
Final Thoughts
It is easy to see why Paysafe is the preferred payment provider for many punters these days. As time goes by and technology keeps advancing, more and more online gamblers will prefer to use eCash solutions such as the one provided by Paysafe.
In the country, at least 40% of the population utilizes e-wallet payments such as Paypal and Skrill. In the future, these payment methods are set to become the most preferred payment method followed by credit cards and bank transfers.
