LONDON–(BUSINESS WIRE)–Paysafe (NYSE: PSFE), a leading payments platform, today announced its expansion into Ohio’s emerging online sports betting market after entering the Maryland iGaming space in Q4 2022. Paysafe is now enabling safe play for a range of sportsbooks in the Midwestern state by providing their players with a comprehensive range of payment options, including credit and debit card deposits, Paysafe’s Skrill digital wallet for both deposits and withdrawals, and other solutions.
Beginning 2023 with a move to Ohio — whose sports betting market is expected to generate as much as $900 million in gross annual gaming revenue when it matures, according to PlayOhio — Paysafe now supports iGaming operators with payments in 25 different U.S. states or jurisdictions. Ohio’s landmark, which is the 7e the most populous U.S. state with 11.8 million residents, it follows Paysafe’s entry into Maryland in late November, which saw the company acquire DraftKings Inc., among others. (NASDAQ: DKNG) and PointsBet (ASX: PBH) provides online payment solutions.
Now, Paysafe has extended its longstanding payment partnerships with these two operators to Ohio along with several other existing partners – Betfred Sportsbook, Betway (subsidiary of Super Group; NYSE: SGHC), Hard Rock Sportsbook and SuperBook™ Sports, among others.
The separate integrations of Betfred Sportsbook, DraftKings, Hard Rock Sportsbook and PointsBet with Paysafe’s payment gateway enables their Ohio sports betting customers to make secure deposits via credit or debit card. All transactions are seamlessly processed by Paysafe.
Ohio sports bettors who wager with the Betway sportsbook can also make deposits and receive withdrawals using Paysafe’s Skrill digital wallet. The wallet, which has recently been upgraded and features a state-of-the-art user experience (UX), supports instant online deposits directly from Betway customers’ bank accounts (if linked), as well as the ability to cash out winnings quickly.
In addition, through their connectivity to the Paysafe payment platform, Betway, PointsBet and SuperBook™ Sports can offer their Ohio customers a range of other alternative payment methods (APMs) from third-party providers.
Zak Cutler, President of Global Gaming at Paysafe, said: “We are excited to start the year by expanding our iGaming payments footprint in the US to Ohio, which ranks as the most important US sports betting market since New York became a year ago. . Through our premium payment platform and Skrill wallet, we look forward to supporting the growth of our operator partners in Ohio.”
About Paysafe
Paysafe (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payment platform. Its main goal is to enable businesses and consumers to seamlessly connect and transact through industry-leading payment processing, digital wallet and online money solutions capabilities. With more than 20 years of online payments experience, an annualized transaction volume of more than US$120 billion by 2021 and approximately 3,500 employees in more than 10 countries, Paysafe connects businesses and consumers through 100 payment types in more than 40 currencies around the world. Paysafe solutions are delivered through an integrated platform and focus on mobile-initiated transactions, real-time analytics and the convergence between physical and online payments. More information is available at www.paysafe.com.
About Paysafe iGaming
Bringing more than two decades of specialized payments experience, Paysafe powers the global iGaming and sports betting industries and offers operators a comprehensive range 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 of the iGaming market in the US in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing industry, building on its leadership in Canada and Europe. As of January 18e, 2023, the company will support 75% of the country’s operators with payment or marketing solutions in 25 jurisdictions. In Canada, Paysafe also has a leading position and partners with most of the regulated iLottery and gaming brands.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are for illustrative purposes only and are not intended as, and should not be relied upon by, any investor. used as a guarantee, assurance, prediction or definitive statement of fact or probability. The actual results of Paysafe Limited (“Paysafe”, “PSFE” or the “Company”) may differ from its expectations, estimates and projections and therefore you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially and possibly adversely from those expressed or implied by the forward-looking statements. While the Company believes its assumptions about future events are reasonable, a number of factors could cause actual results to differ materially from those expected, including but not limited to factors included in the “Risk Factors” in our Form 20-F and in other filings we file with the SEC, which are available at https://www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to publicly release updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, display. except as required by law.