Paysafe payments technology supports new Michigan sportsbook brand’s growth as deal with global operator extends into sixth U.S. state
Paysafe, a leading specialized payments platform, today announced the expansion of its partnership with PointsBet, the premier global sportsbook operator that recently launched its online sports-betting brand in Michigan. PointsBet, which already uses Paysafe’s payment processing services in five other regulated U.S. states, adds Michigan to the list of markets supported through the deal.
Founded in Australia, PointsBet made its U.S. debut in 2019 after receiving approval from the New Jersey Division of Gaming Enforcement (DGE) and partnering with the state’s Meadowlands Racetrack in East Rutherford. As a byproduct of PointsBet’s best-in-class technology infrastructure, the sportsbook operator offers unique features in addition to traditional fixed odds wagering, such as a spread betting model dubbed “PointsBetting”. PointsBet is currently live in six states – Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. The operator’s partnership with Paysafe extends across all these jurisdictions.
Through its latest integration with Paysafe, PointsBet allows Michigan-based customers to easily deposit funds using credit and debit cards, processed through Paysafe’s best-in-breed payment network, as well as ACH bank transfer via checking and savings accounts. Similar depositing methods are also available across the other five states in which PointsBet is active.
The deal also sees Paysafe expand its role in the U.S. iGaming space, where the provider has announced several recent partnerships and is focused on sustained growth as more states continue to regulate. Michigan is the most recent of these states, having launched its online market on January 22nd, following authorization from its Gaming Control Board, and bringing in $115.2M in online wagers during its first 10 days, according to the regulator.
PointsBet has already cemented its leadership role in the U.S. market, becoming an official sports betting partner of all four major U.S. leagues (NFL, NBA, MLB, & NHL), in addition to groundbreaking deals with NBC Sports and Kroenke Sports and Entertainment, to highlight a few. The cutting-edge sportsbook operator also won three 2020 EGR North America Awards for Sports Betting Operator, Socially Responsible Operator and U.S. Rising Star, respectively.
Gregory Kirstein, Director of Business Development for iGaming at Paysafe, said: “With its innovative mindset and dedication to providing a high-quality sports-betting experience, PointsBet has established a frontrunner status in the rapidly expanding U.S. iGaming market. We look forward to building on an already fruitful relationship by supporting the Michigan launch through our payment processing services, which streamline the customer payments journey and drive long-term loyalty.”
Paysafe Group (Paysafe) 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 over US $98B in 2019, and approximately 3,000 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. For more information, visit www.paysafe.com.
PointsBet is one of the fastest growing sportsbooks in the country and is rapidly expanding its U.S. footprint, currently bringing its best-in-class proprietary technology, modernized and premium brand mentality, expert trading practices, and proven growth marketing strategies to the burgeoning sports betting markets of Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. Originally founded in Australia, PointsBet is a cutting-edge bookmaker that prides itself on having the quickest and most user-friendly app (iOS and Android) while also providing the best content and experience for sports bettors. PointsBet is the only U.S. online bookmaker to offer PointsBetting – a unique and innovative way to bet – and has also introduced a slew of well-received, bettor-first initiatives, including: Good Karma Payouts, which provides bettors relief in the event of unlikely circumstances that sway the fate of the game, and Early Payouts. PointsBet offers the most markets on all four major U.S. sports (NFL, NBA, MLB, NHL) and PointsBetting in the world. For more information, visit www.PointsBet.com.