Gambling Credit Card Processing
Gambling credit card processing is a
systematic underwriting process that will
require a merchant to compile a list of
documents to be presented to the processor
and the bank. Gambling credit card
processing is used by all online casinos and
your online business should not be an
exception. An online gambling credit card
processing account will greatly increase
sales for the merchant with real-time card
approvals, instant gambling account funding
and cost effective rates. Gambling merchants
will be able to process transactions for all
of their games within their casino,
sportsbook, sports betting section and their
book maker section. Horse racing gambling is
also allowed by the gambling credit card
processing account provider. Smaller
gambling merchants will be bundled to
process with several other smaller merchants
while larger merchants will have access to
their own gambling credit card processing
account.
What rates will an online gambling
credit card processing account cost to the
merchant? Rates vary greatly depending
mainly on the previous financial history of
the merchant. The larger the merchant and
the longer they have been in business the
lower the rate they will pay. Newer gambling
merchants will be paying a higher fee for
their gambling credit card processing
account. Rates will range from 3-9%.
What is the normal timeframe for
approval of a gambling credit card
processing account? The timeframe can vary
greatly. It all depends on how long the
gambling merchant has been in business for
and if they have all of their financial
documents in order and able to be submitted
to the gambling credit card processing
provider. Usually gambling merchants will be
approved within 10 days however this is a
rough estimate. Gambling payment processors
all have slightly different underwriting
guidelines.
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