Paysafe Enters New York’s Sports Betting Market

Renowned specialized payments services provider Paysafe has recently announced its expansion into New York’s rapidly-growing sports-betting market. This is a big play for the company especially as it pursues its ambitious plans to become the leading brand in affiliate marketing and online gambling payments. Its target markets for this expansion are the United States and Canada.

As it stands, Paysafe has already begun processing betting payments for some popular mobile sportsbooks in New York. It is also now behind several affiliate programs that are meant to increase eminence in the lucrative market. The latter is particularly important as it is a vital component in marketing. Both customer conversion and the growth of various online gambling brands hang on this.

Paysafe’s CEO of North America iGaming, Zak Cutler has been at the forefront of these developments which he believes will be very important for the wider market.

“Payments and affiliate marketing play essential roles in customer conversion and the growth of iGaming brands and the wider market. We’re proud to have supported the ongoing expansion of the North American online gaming space in 2021 through 2022, with our recent entry into New York – a pivotal market that will hopefully galvanize broader US state and Canadian provincial regulation,” he noted.

New York is not the first state that Paysafe is making a big play for. The company already has a solid presence in several other states including Montana, Arizona, Connecticut, Virginia, Michigan and Wyoming among others.

Partnership With Binance

Something that will certainly get crypto enthusiasts in the Empire State very excited is the planned partnership with Binance, one of the world’s most popular crypto exchanges. One of the indications that this was a very exciting development was the broad-based gains for stocks. This eventually stabilized and fell back to the breakeven line at about $3.46.

For Binance, this partnership is going to bring some new developments in addition to reviving previous projects. For instance, the crypto exchange is reopening EUR transfers via SEPA channels.

This reopening of the SEPA channels was possible because Paysafe will be Binance’s fiat on-ramps partner in Europe. The payment service provider has already developed a specialized platform that leverages their experience and resources in the online payments space. While the initial plans seem to be focused on the European market, we are optimistic that it could be scaled across several markets soon. It will not be surprising if North America becomes one of the partnership’s target markets as well.