A recent report by Paysafe, titled “All the Ways Players Pay,” has shed light on how crucial payment options are to bettors when selecting an online sportsbook
Based on a survey of 3,400 sports bettors worldwide, the study reveals that speed of payouts is the leading factor, outweighing even brand trust, promotions or odds.
Zak Cutler, President of Global Gaming at Paysafe, commented: “Our latest ‘All the Ways Players Pay’ research report surveys online sports bettors’ transactional preferences across an unprecedented range of regulated markets in the Americas and Europe.”
According to the findings, 34% of global players prioritise quick payouts over other factors, such as brand trust (33%), promotions and odds (24% each), user experience (18%), and variety of sports markets (17%).
In addition to fast payouts, bettors also place significant value on rapid deposits and the availability of their preferred payment methods, with both factors coming in at 25% each.
The report also highlights the diverse range of payment methods players prefer when engaging with sportsbooks. Debit cards emerge as the dominant choice globally, with 42% of bettors opting for this method. In certain regions, such as Mexico (63%) and Peru (56%), debit cards are even more popular.
Although debit cards are favoured globally, credit cards remain a preferred payment method for 24% of players, with France standing out at 39%. However, digital wallets are gaining ground, with 38% of global players choosing this option.
In regions like Argentina (52%) and US states such as New York (48%) and Florida (46%), digital wallets have become increasingly popular, reflecting the shift towards more modern, digital payment solutions.
For the first time, Paysafe’s report includes Latin America, revealing a significant shift towards alternative payment methods (APMs) in the region, a trend also seen in other sectors.
The report shows that 60% of players expect to use APMs more in the future, with Colombia (85%) and Peru (81%) leading the charge. This growing interest is no surprise, given the widespread adoption of payment solutions like Brazil’s Pix in these countries.
For example, last month, PayRetailers, a payments provider focused on Latin America and Africa, introduced an ‘enhanced Pix payment solution’ specifically aimed at betting operators in Brazil.
Real-time payments are also expected to gain popularity among bettors, with 73% anticipating them to become the standard at sportsbooks within two years.
However, fraud remains a significant concern, as 32% of players who haven’t placed a bet in the last six months cite it as a major reason. While transaction security has improved, with 66% of players feeling more confident compared to last year, operators should still be aware that 8% feel less secure, and 26% remain uncertain.
Cutler concluded: “Payments are crucial for player acquisition and retention in every single market, but there can be no one-size-fits-all approach. Operators will only maximise conversions and minimise churn if they localise their cashiers and respond to player demand for an exhaustive range of payment options that balance transactional speed with security.”
