Paysafe expands FOX Bet partnership into Michigan
June 29 2021 - 4:00AM
Business Wire
U.S. online sportsbook FOX Bet strengthens
Paysafe connection by integrating Skrill and paysafecard for
Michigan
Paysafe (NYSE: PSFE), a leading specialized payments platform,
today announced an expanded partnership with FOX Bet, a U.S. online
and mobile sports-betting platform operated by Flutter
Entertainment plc (LSE: FLTR; EURONEXT: FLTR). Building on Paysafe
integrations across multiple states, FOX Bet has now strengthened
its Michigan sportsbook’s payments offering with the Skrill digital
wallet and paysafecard eCash solution.
Paysafe has streamlined payments for Flutter Entertainment’s
Betfair and PokerStars brands for well over a decade, and its
Skrill solution is already integrated with FOX Bet’s Colorado, New
Jersey, and Pennsylvania offering.
Now, the addition of both Skrill and paysafecard will allow FOX
Bet to better serve sports bettors in Michigan. After credit and
debit cards, digital wallets are Americans’ preferred online
payment method, with 40% of consumers using a wallet like Skrill at
least monthly, according to Paysafe’s 2021 consumer survey. The
research also revealed that 12% of Americans are using eCash
products like paysafecard once a month or more.
Players in Michigan wanting to wager on FOX Bet’s comprehensive
range of sports markets – from NFL football, NBA basketball, MLB
baseball, and NHL hockey, to Mixed Martial Arts (MMA) and local and
international soccer games – can use Skrill to make rapid and
secure deposits into their sportsbook accounts.
paysafecard is also now available to make deposits with FOX Bet
in Michigan and becomes the brand’s very first integrated eCash
solution for players whose payment preference is cash. Available at
thousands of U.S. retailers, the solution can be purchased in
denominations of $10, $25, $50, and $100, providing consumers with
a 16-digit code to make online or mobile deposits into their FOX
Bet account.
As well as deposits, the expanded Paysafe partnership supports
payouts. Winnings can be withdrawn directly into Michigan players’
Skrill accounts and then transferred in real time to their bank
accounts. Customers can also use the Skrill Visa® Prepaid Card to
withdraw winnings as cash from an ATM.
Philip McHugh, CEO of Paysafe, said: “We’re delighted to
strengthen our partnership with FOX Bet. Americans are keenly
embracing alternative payment methods, so integrating our
best-in-class Skrill and paysafecard solutions, both specifically
tailored to sports betting, will ensure that FOX Bet offers all the
different ways that players want to pay when they play.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE:PSFE) (PSFE.WS) is a leading
specialized payments platform. Its core purpose is to enable
businesses and consumers to connect and transact seamlessly through
industry-leading capabilities in payment processing, digital
wallet, and online cash solutions. With over 20 years of online
payment experience, an annualized transactional volume of US $92
billion in 2020, and approximately 3,400 employees located in 12+
global locations, Paysafe connects businesses and consumers across
70 payment types in over 40 currencies around the world. Delivered
through an integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com.
About FOX Bet
FOX Bet is an online and mobile sportsbook developed through a
first-of-its kind national media and sports wagering partnership in
the United States with FOX Sports. FOX Bet brings sports fans
closer to the games they love by integrating regulated real-money
sports wagering on a wide range of sporting events. FOX Bet Super 6
is a free-to-play sports prediction game available nationwide in
the United States, excluding Washington state.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210629005186/en/
Nick Say, Manager, Corporate Communications, North America,
Paysafe Group T: +1-514 452-8747 / E: Nick.Say@Paysafe.com
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