Paysafe has broadened its expansion into the Louisiana and Oregon sports betting markets.
As part of the growth strategy, the payments platform will now process sports bettor deposits for major Louisiana online sportsbooks as well as fueling multiple iGaming programmes in the Southern state.
With Paysafe’s long standing partnerships with Caesars Entertainment and DraftKings, the firm is able to integrate these relationships for the Louisiana sports betting market which according to the American Gaming Association, could result in a market handle of $5.1 billion for the state.
CEO of North America iGaming at Paysafe, Zak Cutler, commented on the expansion into the two states: “We’re proud to be supporting multiple operators in the new Louisiana mobile sports-betting market with two important pillars of their customer acquisition and ultimately revenue growth – payments and affiliate marketing.”
Paysafe has helped sportsbooks such as Caesars Sportsbook and new partner WynnBET through the use of their Income Access software. Allowing to optimise customer conversions and help track their affiliate programs.
Online gambling has been legal in Louisiana from as late as June 2021. According to Louisiana Sharp, the state is projected to make $175 million through online gambling in annual revenue.
Oregon legalised online gambling in August 2019. Paysafe partner DraftKings are the official sportsbook provider for the Oregon lottery. Paysafe, through their partnership with DraftKings, allows customers to seamlessly deposit into their DraftKings account through Paysafe’s payment gateway.
“When our Oregon market entry is also factored in, we feel our position as the go-to iGaming partner for online payment solutions and the affiliate channel has never been stronger,” says Cutler.
Adding Louisiana and Oregon to their clientele of a burgeoning U.S online gambling market, PaySafe now supports U.S sportsbook operators in 20 different states.