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Paysafe Expands Into Louisiana and Oregon Mobile Sports-Betting Markets
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Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of $5.1 billion in Louisiana. By leveraging its affiliate software, Paysafe aims to enhance customer acquisition and revenue growth for sportsbook operators, marking its presence in 20 states including Washington, D.C.
Positive
Expanded into Louisiana and Oregon markets, enhancing reach in mobile sports betting.
Partnerships with major operators like Caesars and DraftKings leverage projected $5.1 billion market in Louisiana.
Supports sportsbook operators with payments and affiliate marketing in 20 states.
Negative
None.
Company now powering payments and affiliate programs for multiple mobile sportsbooks in new Louisiana market while also extending payments business to Oregon
HOUSTON--(BUSINESS WIRE)--
Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced its expansion into the Louisiana and Oregon mobile sports-betting markets. The company is now processing sports-bettor deposits with major mobile sportsbooks in the Louisiana market, which went live recently, as well as powering multiple iGaming affiliate programs in the state through Income Access, its marketing technology and services provider. In tandem, Paysafe has also entered the Oregon sports-betting market to streamline player deposits.
Paysafe has extended its longstanding, multi-state payments partnerships with Caesars Entertainment Inc. (NASDAQ: CZR) and DraftKings Inc. (NASDAQ: DKNG) into Louisiana’s mobile sports-betting market, whose launch when combined with retail sports-betting could result in a mature market handle of $5.1bn annually, according to the American Gaming Association. The operators plus newer partner WynnBET, which plugged into Paysafe in 2021, can support player deposits by credit or debit card through an integration with Paysafe’s payment gateway, with all transactions processed seamlessly.
Paysafe is also optimizing Louisiana sportsbook customer conversions through the affiliate software of Income Access. Several Louisiana sportsbook operators, including Caesars Entertainment for its Caesars Sportsbook, are using the Income Access affiliate platform to track their affiliate programs.
Simultaneously, Paysafe has entered the Oregon market with DraftKings, which it has supported with online payments since 2013 in a processing relationship that today spans 17 states including New York. With DraftKings now the official sportsbook provider of the Oregon Lottery, players in the state can make streamlined deposits into their DraftKings Sportsbook app accounts using a credit or debit card through the operator’s connection to Paysafe’s payment gateway.
Paysafe’s entry into the Oregon and Louisiana sports-betting markets sees the company now supporting sportsbook operators with payments and affiliate marketing in 20 states plus Washington, D.C.
Zak Cutler, CEO of North America iGaming at Paysafe, said: “We’re proud to be supporting multiple operators in the new Louisiana mobile sports-betting market with two important pillars of their customer acquisition and ultimately revenue growth – payments and affiliate marketing. When our Oregon market entry is also factored in, we feel our position as the go-to iGaming partner for online payment solutions and the affiliate channel has never been stronger.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of U.S.$100 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
About Paysafe iGaming
Paysafe brings over two decades of specialized payments experience supporting the global iGaming and sports-betting sectors and provides operators with a comprehensive suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technology and services for iGaming operators through its Income Access business unit.
Since the opening-up of the U.S. iGaming market in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing sector, building on its leadership in Canada and Europe. As of February 14th, 2022, the company supports approximately 75% of operators in the country with payments or marketing solutions across 21 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Paysafe Limited’s (“Paysafe”, “PSFE” or the “Company”) actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause actual results to differ materially from those projected, including, but not limited to factors included in the “Risk Factors” in our Form 20-F and in other filings we make with the SEC, which are available at https://www.sec.gov. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law.
