Paysafe Payments Platform Enters the New York Sports Betting Market

Paysafe Payments Platform Enters the New York Sports Betting Market

By Lou Monaco

As the New York sports betting market heats up and with three more operators to officially launch in the future, one payments platform announced it is getting into the mix.

Paysafe announced Wednesday its expansion into New York. Paysafe, which was founded in 1996 and has a headquarters in London, touts its company as a leading specialized payments platform.

The company is now processing account online deposits and payouts for New York bettors and is already powering several New York-focused affiliate programs.

“Payments and affiliate marketing play essential roles in customer conversion and the growth of iGaming brands and the wider market,” said Zak Cutler, the CEO, North America iGaming, for Paysafe, in a news announcement. “We’re proud to have supported the ongoing expansion of the North American online gaming space in 2021 through 2022, with our recent entry into New York – a pivotal market that will hopefully galvanize broader U.S. state and Canadian provincial regulation.”

Cutler was appointed to this role in Sept. 2021 after serving as vice president of strategy and product at Jackpocket. He also previously was a top executive at DraftKings.


Paysafe Has Reach Far and Wide

Last year, Paysafe introduced and operated its platform in Arizona, Connecticut, Louisiana, Michigan, Montana, Virginia and Wyoming, where the company either went live with operators or had received licensing. It is now supporting gaming brands with payments and affiliate marketing in 18 states plus Washington, D.C.

Those brands include PointsBet and WynnBET in others states, as well as Betfred Sports USA, FOX Bet, Golden Nugget Online Gaming, Fubo Sportsbook, PlayUp, SuperBook Sports and Virginia Lottery.

In Canada, Paysafe has a payments partnership with PlayAlberta.ca, after its launch of Alberta’s only regulated online gambling website in 2020. Paysafe also has Canadian processing partnerships with Atlantic Lottery Corporation, BCLC, Loto-Quebec and Ontario Lottery and Gaming (OLG).


Latest Launch in New York

Australian-based PointsBet went live late Monday night in the busy field of mobile  New York sports betting operators.

PointsBet New York received the thumbs up from the New York State Gaming Commission and joins Caesars Sportsbook New York, DraftKings New York, FanDuel New York and BetRivers New York, which all started on Jan. 8. BetMGM started Jan. 17.

Along with WynnBET New York, two other companies have yet to go live in the Empire State: Bally Bet New York and Resorts World New York.

Through the first nine days (Jan. 8-16) of mobile gambling, the state announced a combined handle of $603 million by Caesars, Fan Duel, DraftKings and BetRivers.

Those numbers might be updated Friday, to reflect three weeks and the inclusion of BetMGM as an operator.

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WRITTEN BY
EmpireStakes.com
Lou Monaco
Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
... Read More