Payments Fintech Paysafe Expands US iGaming Presence with Ohio Market Entry

Paysafe (NYSE: PSFE), a payments platform, announced its expansion into the new Ohio online sports-betting market after entering the Maryland iGaming space in Q4 2022.

Paysafe is now “powering play safely for a range of sportsbooks in the Midwestern state by providing their players with a comprehensive suite of payment options, including credit card and debit card deposits, Paysafe’s Skrill digital wallet for both deposits and payouts, and other solutions.”

By kicking off 2023 with a move into Ohio – whose sports-betting market is expected to generate as much as $900m in gross annual gaming revenue when mature, according to PlayOhio – Paysafe now “supports iGaming operators with payments in 25 different U.S. states or jurisdictions.”

The milestone of Ohio, which is “the 7th most populated U.S. state with 11.8m residents, follows Paysafe’s entry into Maryland in late November, with the company providing DraftKings Inc. (NASDAQ: DKNG) and PointsBet (ASX: PBH), among other operators, with online payment solutions.”

Now, Paysafe has “extended its longstanding payments partnerships with these two operators into Ohio along with several other existing partners – Betfred Sportsbook, Betway (subsidiary of Super Group; NYSE: SGHC), Hard Rock Sportsbook, and SuperBook™ Sports, among others.”

The separate integrations of Betfred Sportsbook, DraftKings, Hard Rock Sportsbook, and PointsBet, with Paysafe’s payment gateway “enables their Ohio sports-betting customers to securely make deposits via either credit card or debit card. All transactions will be processed seamlessly by Paysafe.”

Ohio sports bettors “wagering with the Betway sportsbook will also be able to make deposits and receive payouts using Paysafe’s Skrill digital wallet.” The wallet, which was recently upgraded and boasts a state-of-the-art user experience (UX), will “support instant online deposits direct from Betway customers’ bank accounts (when linked) as well as the ability to cash-out winnings rapidly.”

In addition, through their connectivity to the Paysafe payments platform, Betway, PointsBet, and SuperBook™ Sports, can “provide their Ohio customers with a range of other alternative payment methods (APMs) from third-party providers.”

Zak Cutler, President of Global Gaming at Paysafe, said:

“We’re delighted to begin the year by extending our U.S. iGaming payments footprint into Ohio, which ranks as the most important American sports-betting market to launch since New York a year ago. Through our best-in-class payments platform and our Skrill wallet, we look forward to supporting the growth of our operator partners in Ohio.”

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