Online gambling sites like Cardgames io, Replay Poker, and San Manuel Online Casino all have something in common; they need high risk merchant accounts. It’s all fun and games until your customers can’t make payments on your site. Additionally, this industry sees higher levels of fraud and chargebacks when processing payments. It’s a good idea to have tools to monitor and prevent these issues before they harm your site.
Online Casino Merchant Accounts
If you are in this industry, be sure your business is set up to accept payments through an online casino merchant account. Being able to detect fraudulent activity is a valuable asset for businesses in high risk environments. Online gambling businesses usually encounter high amounts of credit card chargebacks because of claims of fraud, high ticket items, gambling laws, and government regulations. Factors such as industry, location, and even the clientele can and will land your business in the high risk business category. eDataPay.com has payment solutions for online gambling merchants that are efficient and sustainable.
Processing Fees for Online Betting
As you’ve read thus far, the stakes are very high when considering starting a profitable online gambling site. You have to play to win. Processing fees and competitive rates are usually higher than what traditional banks charge low risk merchants. This is the reason that traditional banks don’t have the underwriting capabilities to offer merchant accounts to online poker or other types of casino skill games. eDataPay.com is able to provide secure solutions that make it easier for our online gambling merchants to buy in to our payment gateway services.
Online Gambling Regulations
eDataPay.com does not partake in blind betting on businesses within this industry. For example, business in the fantasy sports industry who have a “Legal Opinion Letter” have a more leverage as a merchant. A gambling license that says that they can gamble in that country is beneficial for other types of businesses in the field. Banks typically like to work with online gambling merchants that stay within the traditional high risk chargeback threshold which is below 2%. We are not in a position to work with start-up businesses in this industry, however we may obtain payment options that meet the needs of those looking to get started in online gambling in the future.
How to Pick a Payment Provider?
eDataPay.com is the best alternative to payment processors like, Paypal, Square, and Stripe who regularly shutoff and do not allow online gambling merchants to process payments. Reach out to us even If your payment processing needs are currently being met. We compare rates to see if you’re being charged a fair amount for this type of account.
eDataPay is sensitive to the unique needs of online casino related businesses. Through fully understanding the industry, we have since established many acquiring banking relationships to become experts in getting online gambling merchant accounts accepting online payments. We want your business to prosper and succeed for the long term – luckily, we have the means and the know-how to make that happen.