Paysafe expands into Louisiana and Oregon mobile sports-betting markets
Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced its expansion into the Louisiana and Oregon mobile sports-betting markets. The company is now processing sports-bettor deposits with major mobile sportsbooks in the Louisiana market, which went live recently, as well as powering multiple iGaming affiliate programs in the state through Income Access, its marketing technology and services provider. In tandem, Paysafe has also entered the Oregon sports-betting market to streamline player deposits.
Paysafe has extended its longstanding, multi-state payments partnerships with Caesars Entertainment Inc. (NASDAQ: CZR) and DraftKings Inc. (NASDAQ: DKNG) into Louisiana’s mobile sports-betting market, whose launch when combined with retail sports-betting could result in a mature market handle of $5.1bn annually, according to the American Gaming Association. The operators plus newer partner WynnBET, which plugged into Paysafe in 2021, can support player deposits by credit or debit card through an integration with Paysafe’s payment gateway, with all transactions processed seamlessly.
Paysafe is also optimizing Louisiana sportsbook customer conversions through the affiliate software of Income Access. Several Louisiana sportsbook operators, including Caesars Entertainment for its Caesars Sportsbook, are using the Income Access affiliate platform to track their affiliate programs.
Simultaneously, Paysafe has entered the Oregon market with DraftKings, which it has supported with online payments since 2013 in a processing relationship that today spans 17 states including New York. With DraftKings now the official sportsbook provider of the Oregon Lottery, players in the state can make streamlined deposits into their DraftKings Sportsbook app accounts using a credit or debit card through the operator’s connection to Paysafe’s payment gateway.
Paysafe’s entry into the Oregon and Louisiana sports-betting markets sees the company now supporting sportsbook operators with payments and affiliate marketing in 20 states plus Washington, D.C.
Zak Cutler, CEO of North America iGaming at Paysafe, said: “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. 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.”
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