Sports betting services are common for all games, no matter how big or small. In fact, the sports betting market size in the United States was estimated to be at $13.76 billion in 2023, with a steady growth projected for the next few years. This is a profitable industry, with much room for growth. Sports betting advice businesses work with clients to map out specific techniques and provide advice in order to turn a profit in sports betting. Unfortunately, businesses who provide sports betting advice may have troubles obtaining the right payment processing solutions they need for daily transactions.
This is where working with a high-risk payment processor may be the best choice. At USA Payments, our team of sports betting advice merchant account experts connect with businesses in this industry to provide specific tailored payment solutions!
Why Is My Sports Betting Business Getting Declined by Payment Processors?
Sports betting is a relatively new thing for many states. It first became legal in the country around 2018, and while it is recognized in most states, this is not the case for all of them. Sports betting companies may be considered high-risk by banks and other traditional payment processing platforms, which can make it hard for these merchants to obtain the right payment gateways to accept credit cards, debit cards, and even mobile payments. Which in this digital age, can be especially taxing on a business!
Why are sports betting advice merchants considered high-risk? It may be due to:
Frequent Chargebacks
Any business that may run into a larger amount of chargebacks is considered high-risk. Sports betting advice is no different. If a client is dissatisfied with their experience working with a sports betting merchant, they may file a chargeback in order to reclaim their money. Because sports betting may not always have the most promising outcome, this industry (and the businesses operating within it) are at risk for chargebacks and in turn looked at as a risk by banks and other payment processors.
Higher Fraud Risk
Because businesses in sports betting often operate online, most payments may be taken online or through the phone. This becomes a ‘card not present’ payment. These types of payments run a higher risk of fraud as well. Secure card information may be stolen, and this can also result in chargebacks.
Legality of Sports Betting
The legality of sports betting itself is what makes this a risky industry for many payment processing companies. Some of the states where sports betting is not yet legal include Georgia, Texas, California, and others. This can cause hurdles for merchants in the sports business sector who are looking to provide clients with secure payment processing methods.
Sports betting advice merchants may be used on a game-by-game basis, during a specific sports season, or year-round. Some merchants offer advice services through subscription services which charge a recurring fee to clients. Timeframe choices and subscription services such as these also increase the high-risk factor for this industry.
How Can Sports Betting Advice Merchants Secure Credit Card Processing Solutions?
If you are a sports betting advice merchant, how can you provide clients with secure payment processing solutions? When banks and other payment processors don’t want to work with your business, there is still hope. You can work with a high-risk payment processing company. These types of companies have the experience of working with businesses in high-risk industries and can provide tailored payment solutions that will allow them to operate their business, make secure transactions, and of course, be able to profit and succeed.
USA Payments is a premier high-risk payment processing company! We offer sports betting advice companies the personalized payment solutions they need to take payments anywhere and any way!
USA Payments is a Leading High-Risk Payment Processor for Sports Betting Advice Companies!
At USA Payments, we don’t see the risk when it comes to working with high-risk merchants. Our experience provides us with the knowledge to offer merchants of different high-risk industries the proper payment processing solutions they need. We strive to help businesses continue to profit and grow, while also achieving the freedom of payment processing that other banks and payment processing platforms may deny them. We provide unique solutions for payment processing for businesses involved in:
- Sports betting advice websites
- Subscription sports betting services
- One-on-one sports betting consultants
And much more! Sports betting merchants may find their merchant accounts for reliable payment processing being constantly turned down due to the industry they belong to. This is why working with a high-risk payment processor like USA Payments may be the key!
Why Does My Sports Betting Company Need Reliable Payment Processing?
You may be wondering, why does my business really need reliable payment processing? As your sports betting company continues to expand, you want to ensure you have the proper payment processing software to collect payment for your services, while also keeping customer information secure. Many high-risk merchants who have a chance to work with banks and payment processors may end up losing their money when these banks and payment processors freeze or delete their merchant account due to the nature of the industry they may work in.
Reliable and consistent payment processing is key for any business. Some of the benefits of having payment processing solutions include:
- Establishing trust between your company and the clients you work with
- Being confident that your profit and revenue is secure and not in danger of being lost due to a deleted merchant account
- Encryption and other security features can help protect customer information to combat the risk of data breaches and fraud
- There are quicker processing times for transactions, which can also improve the overall customer experience while allowing for the easy flow of revenue for your business
These are just a few of the benefits that a merchant can see when it comes to stable payment processing. Connecting with one of the experts at USA Payments can help you learn more!
Our Tailored Solutions for Sports Betting Businesses
USA Payments is a top-choice in high-risk payment processors. We want every business we work with, no matter how big or small, to be able to access payment processing that works for their individual operations. This is why we seek to offer a vast catalogue of payment solutions for all businesses. With USA Payments, your sports betting company will have access to payment processing features such as:
- Being able to process all card types
- Low rates for businesses with no hidden fees
- Virtual terminal solutions
- Mobile solutions
- E-commerce solutions
Connect with USA Payments Today!
Sports betting companies may often have troubles obtaining a merchant account to process payments with traditional banks and other payment platforms. Fortunately, working with a high-risk payment processing company may be the solution that opens up gateways to a multitude of custom payment solutions!
USA Payments is a premier payment processing company that works with high-risk merchants to connect them with the solutions they need, at wholesale pricing that works for them. Are you ready to take that first step to secure payment solutions that help grow your business? Contact the sports betting merchant account team at USA Payments today to get started on your application!