Sportsbook Merchant Account

Sportsbooks, both startups and already operating businesses have the problem in always finding reliable payment processing. Online gambling is by far one of the hardest industries to find banks and payment processors to accept and process for. There have been a number of crackdowns mainly with the United States government that makes most processors veer away from this industry. Sportsbook businesses operating outside of the United States are called “7995” or “coded.” For these companies there are more offshore processing solutions available to businesses. These coded merchants are not accepting any payments from the United States or from US citizens. The United States strongly restricts online gambling and for merchants that are offering online gambling to the United States, they will not find these solutions advertised anywhere.

Merchants operating in the coded gaming industry will find their solutions to be easily obtained compared with their non-coded counterparts. Online sportsbook businesses that are operating with high volume and low chargebacks are able to receive very competitive rates. Coded gambling provides their services to merchants all over the world except for the United States. Europe is a large market as well as Asia when it comes to online sportsbook gambling. The banks and payment processors are mostly located in Europe.

If you are operating a sportsbook business you should make sure you have all of your processing history available and your application along with licenses, passport etc. ready for the payment processor to review before making their decision. If you do not have previous payment processing history available, the merchant should put together the rest of their documents anyway. It will not be easy however look for a payment processor that is willing to accept startup sportsbook businesses. These payment processors will have higher rates and most likely steep setup fees because most processors do not want to work with start ups. The merchant is able to get their business running and when they are large enough, the processor will move them into an account with lower fees or if not, the merchant can switch payment processors.

Offshore Merchants has a list of many banks and processors that work with sportsbook merchants. The merchant will be working directly with the banks and processors in Europe. Merchants should contact Offshore Merchants and they will be able to setup their business with a merchant account that has a competitive rate and competitive terms.

Businesses that have special needs will also be able to be accommodated by Offshore Merchants. Some merchants require a special gateway or an API that will work with their system unlike others provided to them. The banks and processors will work to make sure that these banks are able to provide payment processing services that will satisfy all of the merchant’s requests. Offshore Merchants partners with a network of banks worldwide, if you have searched for a payment processing solution for your company and have not found a suitable one, contact Offshore Merchants today to see what they can offer your business.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.