Paysafe Provides Fanatics Sportsbook With All-Inclusive Payment Solution

Rhea-AI Summary

Paysafe (NYSE: PSFE) partners with Fanatics Betting and Gaming to integrate traditional card payments and alternative payment methods (APMs) for Fanatics Sportsbook customers in the U.S. The partnership aims to meet the diversifying payment preferences of online sports bettors and offers a seamless payment experience through Paysafe's API-based solution.

U.S. online sportsbook integrates with Paysafe platform to offer customers a comprehensive range of traditional and alternative payment methods

LONDON--(BUSINESS WIRE)-- Paysafe (NYSE: PSFE), a leading payments platform, today announced a new partnership with Fanatics Betting and Gaming, the subsidiary of global digital sports platform Fanatics Holdings Inc. Under the deal, Fanatics Sportsbook has integrated with Paysafe to offer its customers traditional card payments and other alternative payment methods (APMs).

Against the backdrop of U.S. online sports bettors’ diversifying payment preferences, Fanatics Sportsbook customers’ transactional expectations will be met through the operator’s partnership with Paysafe. Implemented via a single, streamlined integration, Paysafe’s unique API-based solution provides Fanatics Sportsbook with a range of options for making deposits and receiving payouts.

Paysafe’s support of card transactions allows Fanatics Sportsbook’s customers across Kentucky, Maryland, Massachusetts, Ohio, and Tennessee, to seamlessly deposit into their player account using their debit cards. All card deposits are processed in a matter of seconds using the Paysafe payment gateway, which also seamlessly processes player payouts when they cash-out winnings using their eligible cards.

In addition, players who favor using cash in their everyday lives can fund sports bets at Fanatics Sportsbook using Paysafecash, Paysafe’s barcode-based online cash solution. Fanatics Sportsbook customers can also choose from an array of other APMs through the Paysafe platform’s connectivity to various third-party providers.

Following the operator’s regulatory approval in several other U.S. iGaming jurisdictions, Fanatics Sportsbook’s partnership with Paysafe is expected to expand into new states imminently.

Zak Cutler, President of Global Gaming at Paysafe, said: “With the stature of the Fanatics brand in the sports world, we’re proud to partner with Fanatics Betting and Gaming to provide Fanatics Sportsbook and its customers with an unparalleled payments experience. We’re confident that our ‘all in one’ payment solution will exceed the transactional expectations of Fanatics Sportsbook’s diverse customer base and support the brand’s growth in its current and future markets.”

Kathleen Boord, SVP of Strategic Operations at Fanatics Inc., commented: “We’re excited about our continued partnership with the team at Paysafe. Their single integration has allowed us to move quickly and has provided us with flexibility that ensures we’re allowing our customers to transact with their preferred payment options. We look forward to the ongoing collaboration with Paysafe as we continue to build on our strong foundation and create the best experience for our Fans.”

About Paysafe

Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors. 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 over $130 billion in 2022, and approximately 3,300 employees located in 12+ countries, Paysafe connects businesses and consumers across 100 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 November 13^th, 2023, the company supports 75% of operators in the country with payments or marketing solutions across 29 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands.

About Fanatics Betting and Gaming

Launched in 2021, Fanatics Betting and Gaming is the online and retail sports betting subsidiary of Fanatics Holdings Inc., a global digital sports platform. The Fanatics Sportsbook is the most rewarding online sportsbook with up to 5% back in FanCash on every bet. The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting, transparent withdrawals, live streaming, industry leading search functionality and a curated Discover page with the sports and bets that matter most to a customer. Fanatics Betting and Gaming is headquartered in New York.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231113600099/en/

For further information about Paysafe, please contact:

The Paysafe Press Office via PR@Paysafe.com

For further information about Fanatics Betting and Gaming, please contact:

Kevin Hennessy at Fanatics Betting and Gaming via kevin.hennessy@betfanatics.com

Source: Paysafe

FAQ

What payment methods are integrated for Fanatics Sportsbook customers?

Fanatics Sportsbook customers can use traditional card payments and alternative payment methods (APMs) such as Paysafecash, as well as other APMs available through the Paysafe platform's connectivity to third-party providers.

In which U.S. states can Fanatics Sportsbook customers use Paysafe's card transactions?

Fanatics Sportsbook customers across Kentucky, Maryland, Massachusetts, Ohio, and Tennessee can use Paysafe's card transactions for seamless deposits and payouts.

What is the expected expansion of Fanatics Sportsbook's partnership with Paysafe?

Following regulatory approval in several other U.S. iGaming jurisdictions, Fanatics Sportsbook's partnership with Paysafe is expected to expand into new states soon.