In fact, even many of the International high risk merchant accounts will not underwrite Online Gaming businesses. Many merchant account providers do not understand the issues surrounding this industry and will provide a merchant account that will eventually be terminated, which is not only highly disruptive to any business, but it also makes it more difficult to qualify for a merchant account in the future, since the termination would have to be disclosed on future merchant applications.
CyoGate does offer credit card processing solutions specifically for merchants in the Online Gaming industry including online casino poker, blackjack, lottery, and other wagering and parimutuel activities. There are some higher processing fees and more restrictive terms associated with these types of merchant accounts, due to online gaming being considered a high risk industry , however you can rest assured that you will not have your merchant account terminated simply for conducting business.
For more information on our Online Gaming merchant accounts, please contact us today, or apply for a merchant account using the button below. A standard retail "swipe" merchant account does not allow processing of these "card-not-present" transactions. At Merchant Advise Service we specialise in both online gaming merchant accounts and online gaming payment gateways. Our team of experts in online gambling payment processors work closely with providers to ensure we can secure the best deal possible according to the needs of the business.
If you need merchant account advice for a business in the following areas, get in touch today for a no fee, no obligation quote:. With our range of online gaming and gambling payment options our experts can provide the right advise first time around, saving you both time and money.
Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments.
We help high risk businesses to secure the merchant account they require, first time around. After a short pre-qualification call with our admin team you will be passed onto the right advisor for you. In person Online Phone. OR upload copy of recent transaction statement. Have been rejected for an account elsewhere? If so, please list providers. Please provide any other relevant information including any website addresses.
Thousands struggle to secure merchant accounts, some not knowing their business is classed as high risk. Speak to us directly and get any questions you have answered. Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs.
You may withdraw your consent at any given time. We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.
We act on requests to withdraw the information we hold on you as soon as we can. For further information please refer to our full terms and conditions HERE. Online gambling payment processing. Libby James Merchant Services Expert Libby James is co-founder, director and an expert in all things merchant services. Online gambling merchant services Online gambling, is commonly known as gaming within the merchant services industry.
It is perceived as a high risk industry by the majority of card processing providers for several reasons: Online gambling businesses have a high-volume turnover, which plays a part in the overall risk when an acquiring bank is assessing the complete profile of the merchant. Countries where online gambling is prohibited Online gambling is prohibited is prohibited across a number of countries internationally.
To process credit card payments effectively and efficiently, businesses need to turn to eMerchantBroker. Specializing in providing high-risk merchant accounts for social gaming, MMO, and online casinos, EMB offers customized payment processing solutions for all types and sizes of companies.
To begin the process, apply online now. Merchants can get approved for a casino and online gaming merchant account in as little as 24 hours. Once approved, EMB can set up chargeback management tools and a payment gateway. Also, a fraud filter also can be set up for online payments. EMB offers merchant accounts to many types of businesses in the casino and online gaming industry, including:. In addition to the businesses mentioned here, EMB works with new and existing businesses, merchants rejected or terminated by another credit processor, as well as those with bad credit or a history of excessive chargebacks.
In addition to the application and a secure, operational website, merchants also must have the following items handy to provide to processors and underwriters:. Merchant accounts are approved within 24 to 48 hours. When casino and online gaming businesses apply for merchant accounts, processors and underwriters want to see that they are running legitimate, reputable businesses.
During their review, underwriters look at many factors to ensure credit card processors are not taking on any unnecessary risk. Merchants that are considered high risk means processors are taking on a greater potential financial burden. The best way to prepare for the review is to have a principal in the business with a good credit history apply for the account, pay any outstanding debts, and have some money in the bank.
Before the review is the time businesses need to take care of anything that looks questionable. Your business has unique needs, we are unique solution. EMB will get you approved today for a low or high risk merchant account for your B2B, eCommerce, or Retail business at the most competitive rates. Online gaming and gambling is risky because the industry falls into a legal gray area. Though there are no federal laws that prosecute online gamblers, the Unlawful Internet Gambling Enforcement Act of states that no person or entity may knowingly accept any funds associated with a person participating in illegal online gambling.
Since the law prevents gambling merchants from legally accepting wire transfers, merchants need companies, like emerchantbroker. There are no provisions in the law, stating players would be punished for gambling online or transferring funds to pay for bets.
The state level is a completely different story. Each state in the United States treats online gambling differently. Some states, like Delaware, have legalized regulated online gambling, some have conditionally legalized it, like Nevada, and others have outlawed it, like Louisiana and Iowa. Iowa has the strictest online gambling laws on the books. Depending on the amounts of bets exchanging hands, a violator can be charged with a felony.
Nevada permits online poker at state-licensed sites but prohibits anything else. Though online gaming has become a major, profitable component of the gambling industry, many banks consider them way too risky. Casinos and online gaming businesses are prone to excessive chargebacks and refunds and have a higher volume turnover. These increase the liability the processor likely will incur when processing credit card payments for the business.
Also, online gambling get hit with lots of friendly fraud. This is when customers dispute a transaction because they changed their minds. Due to laws in the United States, many online gambling businesses are based offshore, and there have been reports of money laundering and fraud.
Since they are abroad, it is more difficult to keep track of the dollars, and therefore, increasing the risk to processors. Though the casino and online gaming industry is growing in leaps and bounds, many of the businesses are new and have little or no experience and credit history. This also leaves processors taking on greater financial risk.
Processors have a take it or leave it attitude when it comes to excessive chargebacks. Excessive chargebacks also can hurt the relationships that credit card processors have with their sponsor banks and credit card brands, like Visa or American Express. Credit companies can fine credit card processors that continue to process purchases for businesses that have high chargebacks ratios. Chargebacks are costly. Once they have been terminated in the past by processors, it is very difficult for a merchant to get approved another time.
Merchants need to ensure they are using secure channels to prevent abuse by customers. Details of every transaction should be recorded, archived, and easily retrieved when necessary. Security steps should be taken to ensure that the exact date and time of the transaction, as well as the IP address of the computer from which the purchase was made is known in case there is a dispute.
This information can be used to fight a dispute. Despite all of this, businesses should train customer service representative to offer full refunds immediately to dissatisfied customers. When merchants look at their businesses, they often find out that refunds are more cost-effective than excessive chargebacks. Since many chargebacks in this industry are due to customers failing to recognize the name associated with the charge on their credit card statements, it is up to merchants to make sure customers know how the purchases will show up on their bills.
Clearly displaying business names and contact information on all emails, websites, promotional material, and receipts are perfect ways to prepare clients for what they will see on their credit card statements. In addition, Areto Systems has many years of experience in the online gambling space and choosing their merchants account can be a great move. The provider maintains fair pricing across all merchants with competitive rates for all startups.
Its understanding of new gambling sites, tons of information, innovative marketing tools, and low rates makes it a great solution for any online gambling site looking to test the waters. Better still, merchants can process all major currencies using this merchant account from all over the world. Instabill is a dependable, Portsmouth New Hampshire -based high-risk account provider for international gambling merchants.
The company facilitates online payments with powerful gambling-centric products and services such as online payment gateway, offshore banking partners, multiple currency support, fraud protection and more. Its merchant account enables users to accept payments from gambling players around the world with ease and in real-time. Instabill offers multiple payment processing systems that are divided into multiple online gambling merchants account including:.
The provider offers affordable and industry-competitive merchant account fees. The pricing is customized based on the business type, merchant size, and processing history. The typical fees may entail:. Payment Cloud is a reliable high-risk merchant account provider headquartered in Woodland Hills California. The company focuses on serving high-risk businesses and is perfect for online gambling sites struggling to find a reliable and cost-effective credit card processing solutions.
Some of its salient product and services include EMV-compatible terminals, mobile phone swipers, POS solutions, merchant cash advances, online payment gateway, and virtual terminals. Better still, Payment Cloud provides indispensable tools that help you and your employees learn how to safeguard identifiable customer information and credit card data effectively. The pricing is customized based on the type of business and your processing history. In addition, Payment Cloud comes a dedicated account manager to all new merchants for the time the account is actively held.
Still not convinced? Durango Merchant Services is another well-established high-risk merchant account provider. The company is headquartered in Durango, Colorado US , and has been in the industry since The organization focuses on both the standard and hard-to-acquire merchants and has won many accolades that put them at the top of the echelon.
Durango offers a range of services including POS solutions, online payment gateway, offshore banking partnership, and electronic check processing. The company supplies payment processing for e-commerce merchants, face-to-face, and mobile. In addition, Durango is a force to reckon with in providing multicurrency accounts to merchants across the globe. It empowers global business to spread wings and offer services to international customers with ease.
You do not have to worry about the implementation and integration of the merchant account; the company has a team of IT gurus trained to handle all the tasks for you. The organization offers innovative payment solutions which include virtual terminals, e-commerce, wireless, retail, and other services that can be tailored to the needs and requirements of your business. Its exceptional customer service has been singled out for praise by many merchants.
The company team of security, payment processing, and technology experts, configures every facet of your account to get it up and running within the shortest time possible. Vantage payment is another praiseworthy high-risk merchant account provider headquartered in Scottsdale, Arizona.
The company offers unique and versatile merchant accounts for both domestic and offshore businesses and is ideal for online gambling sites operating in the EU market. Some of its notable features include call center services, European direct debit, multicurrency support, remote deposit capture, POS equipment, and SEO assistance.
Vantage Payments collaborates strategically with clients to customize payment solutions that serve them best. The company has partnered with numerous acquiring banks and offers contract terms based on the business type. Its merchant account stands out because of the fast approval and the competitive rates.
RegularPay processing was chosen as a head processing by multitude of merchants among which you can find online casinos, sports betting, gaming, lottery etc. We always prove the leadership in Gambling sphere increasing customer service level and decreasing prices for devoted merchants.
In the terms of Regularpay payment solution you will obtain personal Gambling merchant account in prestigious European acquiring bank with optimal price and without a hassle. The bigger volume the lower price. Also if merchant grows volume while being processed with RegularPay, we review rates and decrease them correspondingly.
Clear and transparent past history may greatly influence on the rate, because in this case the risk level goes down. It is very important moment too because it affects the risk level. Gambling is a synonym for the risk. People who are involved in gambling, receive huge portions of pleasure putting money on deposit and starting to bet. Owners of online gambling websites are eager to help their customers to enjoy their successes in online casino.
But it is impossible to run your own online business without a gambling merchant account. If you try to open it by yourself, most likely you will receive a polite but firm refusal. Acquiring banks do not want to put themselves in a risky situation, so it is easier for them to deny such propositions, as they are not sure about reliability of online gambling websites. Nevertheless, we are ready to take responsibility and help you to open your legal gambling merchant account. Why are we so sure?
Because we have set up solid professional relations with acquiring banks worldwide. It allows us to accept clients from this industry and provide them with gambling merchant account. One of the key benefits for our Gambling merchants is the possibility to make payouts to clients on the same credit card they have paid by. No matter how big Gambling merchants are, all of them need to pay money back to customers.
Having possibility to make payouts easily and for pleasant price is the great competitive advantage that drastically raises company attraction. Read the article how to apply for a merchant account. In order to avoid needless risks and unwanted consequences we provide direct Gambling merchant accounts, which means that broker receives personal account and is one and only owner of it. Thus, there is no possibility for merchants to be hardly hit by third-party persons on the same account.
Our competent managers are always ready to help you. Fill the form and manager will contact you within an hour. When all formalities are settled and you are ready to accept payments, you need to sign an agreement with a bank and do integration using our user-friendly API. Recently, however, Instabill unveiled a new payment solution which enables the player to pay for the game of his choice — online slots, poker or blackjack — via a gift card.
Our gift card payment solution works as such:. The bank will then process your application and determine your merchant account fees. Each online gambling merchant account is different, but typical fees include:. Additionally, most internet gambling sites are based offshore, leaving U.
A player at an online blackjack table takes a huge loss, telephones his credit card issuer and denies the charge. Instabill provides merchants the education they need to prevent, dispute and even reverse chargebacks with its frequent blog posts on chargeback strategy, as well as its satellite website, Instabill.
California to Consider Online Gambling. Seven More U. States Considering Online Gambling. Advice for Startup Online Gambling Merchants.
That restriction was the result of a cease-and-desist order from the office of the state Attorney General, who claimed that fantasy sports count as illegal gambling under New York state law. However, around the same time, a Massachusetts court ordered that Vantiv had to continue processing payments for DraftKings. Vantiv asked the courts to clarify, stating that the company was stuck in the middle between conflicting court rulings.
As fantasy sports continues to grow in popularity, expect to see clarification on these issues. For the time being, fantasy sports remains a high-risk situation. In late spring of , the United States Supreme Court changed course on a long-standing prohibition on sports betting in the country. The decision does not automatically permit sports betting in all states, and indeed, many states would need to pass or amend their own laws to permit it.
Additionally, some opponents of the change argue that it could have negative implications as far as game-fixing and other cheating strategies. However, others say that it should be legalized and regulated, allowing for fan engagement and a possible economy boost. ESPN published and maintains a tracking map showing which states have taken action related to sports betting.
High risk merchant accounts will cost more than lower risk accounts, and that holds true for gambling accounts. Be prepared to offer details on what kind of business you run, how you accept payments, your average transaction size, your expected monthly volume in card payments, and supporting documents such as financial and bank statements, social security number, and ID. By providing some details about your business, you can get instant quotes from processors that support high risk industries.
Try it here! BY Ben Dwyer. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees. View all articles. Toggle navigation Sign Up for Free. Sign Up for Free Log In. May 14, High Risk Merchant Accounts. Interchange Rates and Fees. Credit Card Processing exposed Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
Read Now! Please join the conversation Cancel reply Your email address will not be published. Get started now! All Rights Reserved. Our competent managers are always ready to help you. Fill the form and manager will contact you within an hour. When all formalities are settled and you are ready to accept payments, you need to sign an agreement with a bank and do integration using our user-friendly API.
When integration is finished, you just make a test transaction and start accepting real payments on personal Gambling merchant account! Personal Gambling merchant account means that you are only one owner of the account and you fully control payments coming through it. Unfortunately for merchants, some payment providers often use the so-caled aggregated account where they place several sometimes even many enough merchants in order to get the desirable processing volume or risk ratio.
As a result here comes the threat that one of participating merchants can cause troubles and entire account will be closed harming other merchants. Moreover, usually these risks effect rates increasing them in a considerable extent. In contemporary world the safety question is fundamental, especially in a Gambling sector. Unluckily, cheating in the Internet is impossible to reduce to zero, but it is real to prevent.
As a result of this, RegularPay technical department has developed and applied required security filters so-called anti-fraud filters which, due to sophisticated settings, allow merchants to completely exclude all sorts of card fraud. At the same time the flow of genuine transactions is not affected. We are constantly enhancing existent filters and creating new ones to protect our brokers from intricate fraud attempts.
Possibility to accept credit card payments with activated 3D secure option is also available. Contact us in case you want to know more about payments protection. And the last thing to be mentioned is our fully secured and PCI DSS compliant payment gateway which has the ultimate level of safety because we clearly understand that there is a colossal number of transactions in Forex industry and failsafe gateway is must-have condition.
Feel yourself safe with us! RegularPay expert account managers are checking the provided information, so you will receive our feedback very soon! Meanwhile you can find many useful things here:. Gambling Merchant Account. It is possible because: We have established working partnership with a numerous acquiring banks; Our managers provide profound on-the-fly support on each stage of receiving an account; RegularPay has already provided multiple Gambling businesses with online payment solution.
Thorough list of safety options including Anti-fraud system, 3-D secure etc. Easy and prompt integration with our technical solution. Full support on every step of integration. Large network of trusted acquiring banks and partners. Wide list of processing and settlement currencies.