The payment journey for consumers and bettors has emerged as one of the most prevalent issues for US gambling as we head into a new year.
The years ahead are likely to see even more embracing of sports betting within the US and a more committed approach to personalising the player journey when it comes to payments.
Speaking at the Betting on Sports America – Digital Conference, Umberto Corridori SVP Sales EU, Digital Payments Nuvei emphasised that granting the users control is a vital factor in maximising engagement.
He revealed that: “In order to put the player in control of their gaming funds we have also developed a series that split the payout in case a win comes from multiple gaming categories, we also have the ability to reverse the withdrawal.”
He went on to say that with the benefits and factors that increase the enjoyment of the experience for users, it becomes increasingly important that operators have a strengthened risk management operation.
Ailie Kofoid, CEO – Americas at EML Payments, underlined the group’s role as being able to ‘continue bringing together financial regulators and gaming regulators, continuing to educate them on payment opportunities’.
She continued by emphasising the importance of a unified approach, as well as education, being an imperative tool when it comes to the ability for the payments sector to innovate.
Kofoid highlighted that what it all leads to is an increase in choice for consumers, as the market opens up, players will have the payment method that best suits their sports betting desires and characteristics.
Dana Daee, Business Development Manager, Payments Kindred Group, echoed the sentiment that innovations are crucial on the journey to creating a seamless customer journey.
She added on what has changed within gambling payments over the last few years: “We are seeing more of an openness to move towards real-time payments, there are still some hurdles that need to be passed first, but even with traditional methods like ACH seeing them going to the same-day clearing cycle, that’s really a big step in moving towards real-time payments.
“I think as well, credit and debit card companies have also become more accepting in terms of gambling transactions. If we look at stats from January until now, there has been something like 10/15 per cent increase in acceptance of gambling transactions.
“The landscape is really moving towards listening to the players that are demanding an instant payment journey.”
Christopher Granger, Lottery & Gaming Lead Visa, agreed with Daee and affirmed how happy to see increased comfortability in the way firms embrace and accept gambling transactions.
He went onto shed light on the key withdrawal element of the consumer journey, something he believes has been bolstered immensely by the launch of Visa Direct.