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Navigating Secure Payment Processing for Online Sports Betting Guidance
Dive into the dynamic world of sports betting consulting services, where opportunity meets innovation. Since the Supreme Court lifted the federal ban on sports betting in 2018, the industry has witnessed an unprecedented surge. With the US sports betting market projected to reach $37 billion by 2025, there's no denying the potential for growth and profitability in this sector.
Challenges Faced by Sports Betting Advice Businesses
However, the path to success in the sports betting consulting arena isn't without its obstacles. Financial institutions often hesitate to provide payment processing for online sports betting advice providers, categorizing them as high-risk businesses. This reluctance poses a significant challenge for those seeking to monetize their expertise in the field.
Why are Sports Betting Advice Businesses Considered High-Risk?
Despite the legalization of sports betting in 30 states, banks remain cautious about offering payment processing services to online sports betting advice businesses. Several factors contribute to this cautious stance:
- Federal Prohibition: While some states have legalized sports betting, federal law still prohibits it, creating legal complexities that financial institutions prefer to avoid.
- High Chargeback Rates: Subscription-based sports betting advice services often experience higher rates of chargebacks, as subscribers may dispute charges after unsuccessful betting outcomes.
- Increased Fraud Risk: Online transactions, common in sports betting advice services, are susceptible to fraud, particularly in card-not-present scenarios.
- Customer Disputes: Dissatisfied customers may dispute transactions due to unsuccessful betting outcomes, leading to potential financial losses for merchants.
How iPay Digital Supports Sports Betting Advisors
With over a decade of experience in serving high-risk industries, iPay Digital offers tailored solutions to meet the unique needs of sports betting advisors. Leveraging our extensive network of nationalise banks, we streamline the setup process for high-risk sports betting advice merchant accounts. Our comprehensive services cater to various sports betting consulting businesses, including individual advisors, handicapping services, advice apps, websites, podcasts, and more.
Beyond initial setup, iPay Digital provides robust fraud prevention and chargeback reduction technologies to safeguard merchant accounts and ensure business continuity. Our payment processing services for online sports betting advice offer:
- 24/7 Customer Support
- Quick Signup and Approval
- Lowest-Cost Processing Fees
- Seamless Integration with Existing Systems
- Maintenance of Chargeback Ratios Below 2%
- Processing of eCheck, ACH and Credit Card Payments
Set Up Your Sports Betting Advice Merchant Account Today
Are you searching for a reliable high-risk sports betting advice merchant account provider? iPay Digital offers cost-effective solutions with a focus on customer satisfaction. Sign up for a free trial to experience our services firsthand. For inquiries or assistance, our dedicated team is available to support you every step of the way.
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Transforming the Landscape of Payment Processing
Start accepting payments today with iPay Digital Merchant.
