Paysafe Expands into Massachusetts’ Mobile Sports Betting Market
Paysafe, a leading payments platform, has announced its expansion into the mobile sports betting market in Massachusetts. The company is now powering payments and play for multiple mobile sportsbooks in the state, providing seamless and safe payment solutions for players to fund their accounts.
This move by Paysafe extends its support to operators with online payments in the 26th American iGaming jurisdiction. The Massachusetts sports betting market is expected to generate $300.17m+ in first-year revenue, according to Legal Sports Report.
Paysafe’s entry into the Massachusetts market also extends its existing payments relationships with DraftKings Inc. and Caesars Entertainment, Inc., among other operators. The Paysafe platform will allow sports bettors in Massachusetts to make frictionless and secure deposits into their player accounts using their debit cards through iOS or Android mobile sports betting apps.
All transactions are processed in a matter of seconds by Paysafe’s best-in-class payment gateway. The platform will also allow sports betting operators in Massachusetts to access a suite of alternative payment methods (APMs), including Paysafe’s own APMs and third-party solutions.
Zak Cutler, President of Global Gaming at Paysafe said, “We’re excited to expand into Massachusetts, my home state and an important milestone in the evolution of the U.S. iGaming industry, with its passionate sports culture and pivotal industry role in the development of daily fantasy sports and now sports betting. We’re also proud to extend our longstanding relationships with several major sports-betting partners into this new market, and we look forward to helping them maximize their player acquisition and retention in Massachusetts, just as we’ve done in multiple other U.S. states.”