Fintech Paysafe Enters Arkansas iGaming Market

Paysafe (NYSE: PSFE), a specialized payments platform, recently announced its entry into the Arkansas mobile sports-betting market through a partnership with BetSaracen, the sportsbook app from Saracen Casino Resort in Pine Bluff, Arkansas, which is “owned by the Quapaw Tribe, based in Oklahoma.”

The partnership’s first phase sees BetSaracen “integrate Paysafe’s Skrill USA digital wallet to enable players to make frictionless deposits and payouts.”

Sports bettors in Arkansas – the 22nd U.S. state or jurisdiction where Paysafe has an iGaming payments footprint – can now “use Skrill USA to instantly fund a wager with BetSaracen’s iOS and Android apps.”

A streamlined registration process with Skrill USA, which enjoyed a product revamp last fall, “allows players to link their bank accounts with the digital wallet.”

They can then “deposit into their BetSaracen account in a matter of seconds via instant online bank transfer – and begin wagering on North American sports-league games and international sports.”

Alternatively, BetSaracen customers can “fund their Skrill USA accounts by simply entering their debit or credit card info, or by using Paysafe’s Paysafecash online cash, or eCash, solution, which is available at thousands of in-store retailers in Arkansas and across the wider U.S.”

Cashing-out their winnings from the BetSaracen apps is just “as simple for Arkansas sports bettors, with funds accessible in their Skrill USA accounts in real time.”

Once their bank accounts are linked to Skrill USA, players can also “transfer winnings from their digital wallet account within seconds.”

Beyond Skrill USA, BetSaracen’s connectivity to the Paysafe platform will “allow the operator to access the company’s complete suite of traditional and alternative payment methods going forward.”

Zak Cutler, CEO of North America iGaming at Paysafe, said:

“We’re proud to expand into the Arkansas iGaming market with an established local operator that has strong brand recognition in the state and in neighboring Oklahoma, where the Quapaw Nation are based. We’re confident that BetSaracen’s players will find our Skrill USA digital wallet a game-changing payment solution for sports wagering.”

Carlton Saffa, Chief Market Officer at Saracen Casino Resort and BetSaracen, commented:

“When partnering with Paysafe, we were impressed by the ease of use of the company’s payment solutions and Skrill USA in particular. With Skrill USA, we know we’re offering Arkansans a best-in-class digital wallet that facilitates and enhances the wagering experience with the BetSaracen mobile sportsbook app.”

As covered, Paysafe Limited claims to be “a leading specialized payments platform.”

Its core purpose is “to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions.”

With over 20 years of online payment experience, an annualized transactional volume of over U.S. $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe “connects businesses and consumers across 100 payment types in over 40 currencies around the world.”

Delivered through an integrated platform, Paysafe solutions “are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.”

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