Fantasy Sports & Online Gaming Merchant Accounts & Payment Processing
You can bet on Website Payment Pro for quality services and fair prices.
Although many vendor agencies (MSPs) shy away from fantasy sports and sports betting businesses, Website Payment Pro embraces this growing industry. The field is considered high risk by banks for several reasons. Fantasy sports companies experience a higher number of chargebacks, especially when customers lose a game and then attempt to dispute a charge for the service entirely by claiming the transaction was fraudulent. Even if a chargeback is illegitimate, it will remain on the company's merchant account record until it's disputed, investigated, and reversed. And when transitioning MSPs, potential providers will look at those account statements and may be deterred by a large number of chargebacks—as they can't tell which are in the process of being disputed and potentially reversed. Legal restrictions, in addition to the risk associated with accepting card-not-present transactions in general, further contribute to the industry's high-risk category.
We Can Support
Nonetheless, at Website Payment Pro, we understand the potential for chargebacks and offer merchant accounts with equally high chargeback thresholds. Our fraud and chargeback prevention tools and state-of-the-art payment gateways provide security, convenience, and advanced reporting features specifically tailored to the fantasy sports market.
Industry Data
Despite the challenges it faces, the industry's rapid growth is hard to ignore. According to the Fantasy Sports Trade Association, 59.3 million people played fantasy sports in the U.S. and Canada in 2017, and players' annual spending average on league-related costs (software, materials, single-player challenge games) was $556. Football leads the way as most popular, but many diverse leagues exist. More banks are adapting to cater to fantasy sports'> rise in popularity.
Our experienced team is happy to review your fantasy sports business and recommend a payment processing plan that fits your needs, all at a fair price.
Get started with secure fantasy sports merchant accounts and online gaming payment processing solutions from Website Payment Pro. Contact us today at 1-800-304-0555.
