Online gaming and gambling has never been hotter. It all began with ESPN showing the World Series of Poker, which has since sparked numerous other poker tours and a staggering rise in online gaming and gambling sites. In addition, more and more states are beginning to allow a proliferation in gambling through approved casinos. The difficulty faced for a gaming merchant is that the entire industry lies in a perpetual gray area. Many municipalities have made it illegal for its citizens to engage in local and online gambling, but other states, countries, and localities put few restrictions upon them. As such, a gaming business is considered a high risk merchant in the eyes of most banks. This means that they will usually decline to provide a merchant account to gaming businesses, and if they do, the rates they charge will be higher. Merchant Processing Advisors can help find a payment processor for your gaming business due to the fact that we specialize in high risk merchants and that we have partnership agreements with both domestic and off-shore account providers that will offer competitive rates.
Many states are now looking towards casinos and gambling to help fill state coffers. In 2014 alone, the total revenue for US gambling was $103.2 billion. There are now 462 casinos operating in the United States, and individual states have raised $5.2 billion in tax revenue in a single year. Total revenue for online poker has spiked from $3.2 billion in 2007 up to $6.7 billion in 2012. A brick-and-mortar gaming establishment will have different needs than an online gambling merchant. However, both will need full PCI compliance, fraud and chargeback protection and integrated payment gateways to ensure debit and credit card transactions. An online gaming site will need the ability to handle multiple currencies with ease. Merchant Processing Advisors can provide worldwide contacts and find multiple merchant account providers that will offer the services and features you need to succeed. You can fill out our high risk merchant account application and receive a rate quote within 24 to 48 hours. If you wish to talk one-on-one with one of our professionals, you can contact us at any time. As always, Merchant Processing Advisors provides free consulting to our clients. All of our services are provided at no additional cost to you.
Our services are provided at no additional cost to you.