Paysafe has expanded its online payments presence in both Arizona and New Jersey thanks to a partnership with Bally’s sportsbook and iCasino. Paysafe, which is one of the most well-known payment platforms available, will streamline Bally’s player deposits. Playsafe will be in charge of player deposits for both Bally Bet online sportsbook in Arizona, as well as BallyCasino.com in New Jersey.
With these Paysafe integrations within the Bally Bet online sportsbook, sports betting punters in Arizona will now easily deposit their funds using their debit or credit cards. Once they have funded their accounts, the punters can then wager on a wide number of sports betting markets freely.
BallyCasino.com on the other hand will also have the Paysafe payment gateway plugged into its real money online casino platform in New Jersey. This means customers staying at the casino resort, as well as punters located anywhere within New Jersey will now quickly be able to deposit money into their accounts safely and seamlessly thanks to Paysafe.
In the coming months, Paysafe integrations in both Bally Bet Arizona and BallyCasino.com in the Garden State will be upgraded to allow access to Paysafe’s suite of alternative payment methods. Some examples of alternative payment methods that are included in Paysafe’s suite include Skrill, Paysafe cash, as well as paysafecard, which are all available for bettors that prefer betting online with cash.
Once the 2 partners conclude phase one of this collaboration, Paysafe will then proceed to integrate its product with various Bally Bet online sportsbooks. As Paysafe continues with its plans for expansion in the US sports betting market, this partnership with Bally’s will help the adept iGaming payments provider’s presence immeasurably.
The Bally’s brand is one of the most recognized brands in the gaming market in the country having been around for close to 50 years. Bally’s also has a lot to benefit from this partnership with Paysafe. In the short term, Paysafe will provide a streamlined payment process for Bally’s customers, which should help the brand serve its customers better and grow even further.
As Bally’s continues to roll out its digital casino and sports wagering product across the country, having a high-quality payment processor to cater to its customers’ needs is essential to its success. Payment has been in business for more than 20 years and has a vibrant presence in more than 12 plus locations all over the globe in more than 40 currencies.
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Paysafe Recently Shared Its 4th Quarter Financial Highlights
Just recently, Paysafe shared its financial highlights for the fourth quarter in 2021, as well as its outlook for this year’s finances. According to the CEO of Paysafe Philip McHugh, the brand’s fourth-quarter results exceeded Paysafe’s reviewed guidance of revenue, as well as its adjusted EBITDA. Paysafe continued to perform well in the US as the brand has managed to position itself as one of the top digital wallet businesses in the country.
As Paysafe continues to pursue its expansion plans in the US, it will continue to pursue such partnerships and competitive deals with disruptive and well-established firms in the gaming sector. In the future, Paysafe will increase collaborations with high growth verticals in the gaming space, in particular with iGaming operators such as FanDuel and DraftKings, as well as crypto-based companies.
During the fourth quarter, Paysafe launched an embedded finance solution in partnership with Binance. Binance boasts the biggest crypto exchange by volume, which was a significant milestone for Paysafe. In addition to partnering up with Binance, Paysafe also expanded its product in the recently legalized New York sports wagering market, which further helps to strengthen its position in the country.
Aside from its US presence, PaySafe also finalized the acquisition of SafetyPay, thus establishing the brand as the top provider of real-time banking products in Latin America. In total, Paysafe generated $371.7 million during Q4 2021.
Paysafe also reported an adjusted EBITDA increase of 11% in the 4th quarter where it generated $105.5 million compared to the $95.3 million generated in the previous year. The total revenue produced by Paysafe for 2021 stood at $1,487.0 million, which was an increase of 4% compared to the same period last year which produced $1,426.5.
Paysafe Growth Is Expected to Continue This Year
Not too long ago, Paysafe expanded into Oregon and Louisiana, which further expanded the payment solution’s presence in the country’s legal mobile sports betting market. As a result, Paysafe is now available to sports bettors in both states. Paysafe is also now powering iGaming affiliate programs in Louisiana thanks to its Income Access branch of the business.
Paysafe will start operating in Louisiana thanks to its partnership with DraftKings and Caesars Entertainment, which both have existing partnerships with Paysafe. To help its growth in Louisiana even further, Paysafe also has affiliate-based collaborations with several other licensed sportsbooks in Louisiana.
In Oregon, on the other hand, Paysafe will secure its presence in the state as a result of its partnership with DraftKings, which has been available for punters in the state since the brand debuted in 2013. Owing to its double launch in both Oregon and Louisiana, Paysafe is now in charge of payments in 20 states.
At the start of the year, Paysafe also lengthened its partnership with BetWildwood, which is the authorized online sportsbook of the Wildwood Casino. BetWildWood now has integrated Paysafe’s Skrill USA digital wallet, which allows its customers to make their deposits, withdrawals quickly and effectively. BetWildwood is driven by ISI Race & Sports.
ISI Race and sports is a turnkey race and sportsbook software provider that was first plugged into Paysafe early last year. Now that this integration has been finalized, customers of BetWildWood will now easily access their winnings and payouts via Skrill USA in real-time. A player will be able to withdraw their winnings easily at most ATMs through the Skrull prepaid Visa card, which can also be used for other online payments.
Final Thoughts
Paysafe’s payment solutions are designed to attract mobile-initiated transactions. and as the world becomes more and more mobile, Paysafe could not be better placed for growth. In the future, Paysafe will continue to offer specialized payment experiences for iGaming and sports betting operators in the country, which will allow the market to grow even more than it already has.
