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Specialized payments platform Paysafe has announced a partnership with Fubo Gaming, the Chicago-based subsidiary of sports-first live TV streaming platform fuboTV Inc.
Expected to launch later in Q4 2021, subject to obtaining required regulatory approvals, Fubo Sportsbook, the firm’s mobile sportsbook, will use Paysafe for credit and debit card payments, the Skrill USA digital wallet, and paysafecard and Paysafecash eCash solutions.
Paysafe’s payment gateway will allow Fubo Sportsbook users to fund a deposit via credit card, debit card, or ACH bank transfer from a checking or savings account. Bettors will also be able to use Skrill USA to make deposits from their digital wallet into their sportsbook account.
Cash options are also available. Users can choose to deposit using either paysafecard or Paysafecash, with both eCash solutions available at thousands of US retailers.
Paysafe will also facilitate payouts, with bettors now able to choose between ACH withdrawals or Skrill USA’s digital wallet, allowing winnings to be transferred in real-time to players’ bank accounts. Alternatively, customers can use the Skrill Visa Prepaid Card to withdraw winnings as cash from an ATM.
Zak Cutler, CEO of Paysafe’s North America igaming division, said: “We’re delighted to partner with Fubo Gaming’s forthcoming Fubo Sportsbook.
“Our comprehensive range of payment solutions, with a strong emphasis on fast and frictionless deposits and payouts, will be key for Fubo Sportsbook’s interactive wagering model, and we look forward to providing strong support to the brand’s launch in Q4 and its future growth.”
Fubo Sportsbook intends to combine data from both the betting and streaming platforms. Using fuboTV’s first-party user behavior data to understand consumers’ viewing preferences and recommend relevant bets, the company plans to turn passive viewers into active, engaged participants.
Over the past couple of months, Fubo Gaming has secured licenses and market access agreements in Arizona via Ak-Chin Indian Community, in Iowa via Casino Queen, in Pennsylvania via The Cordish Companies, as well as in Indiana and New Jersey via Caesars Entertainment Inc.
Scott Butera, President of Fubo Gaming, commented: “We are building our Fubo Sportsbook to deliver a truly integrated and interactive betting experience, where sports fans can be active and engaged participants of the games they are watching and wagering on.
“To bring that vision to life, we needed a payment partner who was going to provide secure, fast, and easy-to-use solutions for our sportsbook users. Paysafe checks all of those boxes, and we look forward to our continued partnership.”