A fantasy sports merchant account is ideal for companies in the online gaming industry. In recent years, the demand for credit card processing in fantasy sports has expanded greatly. With new online companies offering interesting and innovative ways to reach target markets in the online gaming sector, merchant account providers have been updating their underwriting guidelines and providing new ways to accept payments.
Fantasy Sports Payment Processing
In order to accept payments for your fantasy sports application or website, you’ll need to find a high risk payment processor who specializes in this field. Online gambling is a highly regulated activity with laws that fluctuate from state to state. Therefore, it’s essential to have a well-established high risk merchant account provider who can walk you through all of the onboarding steps.
How To Get A Fantasy Sports Merchant Account
- Find A High Risk Processor – As mentioned above, a high risk payment processor is your best way to get a merchant account if you’re a fantasy sports business. Find one who has a reputation for positive approvals and can onboard fast. Zen Payments is a trusted source for getting you all of the information you need in order to find a sustainable solution.
- Fill Out An Application – Online applications make the process fast and easy. Contact the payment processing company and fill out a form on their site. Next their team will reach out to you to fill out an application.
- Submit Documents – Submit essential documents such as your transaction history, the proof of ownership, and other basic information regarding your company. They’ll also want to review your website and get to know the exact type of payment style you have. For gambling accounts, there are many different ways customers pay, and get rewarded.
- Underwriting and Review – Their underwriting team will review your file and let you know if they need any more information. They may ask about your chargeback history, your average ticket sales, or other items that may not have been covered.
- Fast Approval – Once your package is complete, the payment processor will send it to the final banking entity for approval. At this stage they often choose to board the account.
Types Of Fantasy Sports Companies
There are many different ways to place bets on sports, and an increasing number of businesses that provide unique ways for people to wager on winners and losers. Here are a couple of the main verticals and company types that should reach out to high risk providers :
- Sports Betting – Sports betting is a historical pastime, and with new online features it has extended into easy-to-use phone applications and websites. You can now bet on sports around the world, but as mentioned this expansive ability comes with its payment processing difficulties. International betting and state-by-state standards make the vertical high risk.
Best Merchant Account for Sports Betting
The best merchant account providers in the sports betting industry are high risk ones. Zen Payments is a master in the field with multiple resources for online companies and applications. With payouts and money disbursements on the line, be sure to work with experienced payment processors who can secure your account fast and guarantee competitive rates.
Table of Contents
- - Fantasy Sports Payment Processing
- • How To Get A Fantasy Sports Merchant Account
- • Types Of Fantasy Sports Companies
- - Best Merchant Account for Sports Betting