Online gambling payment processing

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Card providers for gaming websites

According to The Gambling Commission, online gaming and betting in the UK during 2016 contributed to 33% of industry market share. A large proportion of this was made up of sports betting, casino games and online bingo sites. Gambling and online paid gaming sites are more accessible than ever and, therefore, the need for merchant accounts to support the industry has also increased.

Online gambling merchant services

Online gambling, is commonly known as gaming within the merchant services industry. It is perceived as a high risk industry by the majority of card processing providers for several reasons:

Online gambling businesses have a high-volume turnover, which plays a part in the overall risk when an acquiring bank is assessing the complete profile of the merchant.
The majority of gaming businesses are based offshore – historically there have been cases of both money laundering and fraud within the industry.
If the business is a startup or new to the gaming business, the lack of credit and transaction history can put off an acquiring bank.

Online gaming payment methods

Operating in a high risk industry like gaming and online gambling doesn’t mean businesses won’t be able to secure a merchant account. There are several specialist high risk providers and at Merchant Advice Service we work closely with these when working through client payment process options.

Countries where online gambling is prohibited

Online gambling is prohibited is prohibited across a number of countries internationally. This means anyone with IP addresses trying to access gambling sites will be automatically blocked;

Canada
China
Finland
Hong Kong
Liechtenstein
Lithuania
Netherlands
Norway
Poland
Portugal
Switzerland
Turkey
UAE
USA
Vatican City

Every single businesses selling goods or services is given an operating code which corresponds with the nature of the company. Online gaming and gambling businesses are all coded under 7995 by both Visa and MasterCard and, therefore, the listed countries that ban gambling would automatically block users trying to when trying to process payments user this code as it falls outside of local law.

Gaming Merchant Accounts and Payment Gateways

Securing a merchant account for online gaming can be difficult, especially if you are a new business. There are a selection of partnering banks who will accept applications from newer gaming companies and save money for more established ones.

We can assist in gaming card processing in the following areas;

– Raffle websites
– Games of skill
– Casinos
– Sports books
– Penny Auction

To ensure your gaming application is successful the majority of providers will require six months transaction history, a business plan or accountants projections and the relevent gaming or gambling license.

As with most high-risk, higher turnover businesses we suggest that you have more than one merchant account working to support your site. Meaning that if you have been served notice by one gaming merchant account provider, the site can still accept card payments as normal using the back up account.

SPEAK TO OUR GAMING EXPERTS

Finding a gaming merchant account

At Merchant Advise Service we specialise in both online gaming merchant accounts and online gaming payment gateways. Our team of experts in online gambling payment processors work closely with providers to ensure we can secure the best deal possible according to the needs of the business.

If you need merchant account advice for a business in the following areas, get in touch today for a no fee, no obligation quote:

  • online gambling merchant account
  • online gambling pay by phone
  • online gambling payment gateway
  • online gaming payment gateway
  • online gaming payment processor
  • online gambling payment processing
  • online gambling credit card chargeback

With our range of online gaming and gambling payment options our experts can provide the right advise first time around, saving you both time and money.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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