Paysafe has confirmed its expansion into the regulated New York sports-betting market as the firm seeks to enhance igaming in the region through payments and affiliate marketing.
The growth will be spearheaded by recently appointed CEO Zak Cutler and comes at a time when wagering in the Big Apple experiences rapid growth following legislation.
Cutler said on the move: “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 U.S. state and Canadian provincial regulation.”
As part of the expansion, FOX Bet, Golden Nugget Online Gaming, and PointsBet expanded their existing payments partnerships with Paysafe into new states in 2021. New partners Fubo Sportsbook, PlayUp, SuperBook Sports, and WynnBET, evolved their payment journeys through Paysafe.
Affirming just how fruitful the New York market is, recent data from GeoComply detailed that more than one million accounts have been created across the five authorised sportsbooks in the state of New York since its mobile sports betting market launched.
The firm’s data outlined that from the New York market’s launch on 8 January: 1.2 million accounts are active in the state, with 878,000 unique players – more than New Jersey and Pennsylvania combined over the same period; only 9.3% of NY players have placed bets previously in NJ, easing cannibalisation concerns; and 770,840 (87.8%) of NY players are brand new to regulated online sports betting (never before seen in GeoComply’s systems.