Score Big by Starting a Sports Betting Merchant Account

Oct 21, 2014

The taboo of sports betting is quickly fading away. What has been an unofficial tradition in countries around the world since the creation of sporting events, is becoming legitimized in the United States. Several states in the U.S. have already legalized sports betting, meaning this lucrative industry is ready for daring entrepreneurs to establish themselves before the market is saturated with competition. Despite the fact that the sports betting industry is big in other parts of the world, the United States has been slow to adopt the industry due to misinformation and outdated beliefs about sports betting.

Sports betting has gained an ugly reputation, linked to back-alley betting on fixed boxing matches or basketball games. The truth is that today’s sports betting is very subdued and organized. Like with most industries, legitimization has brought rules and regulations to the sports betting world, making sure all sports betting entities operate fairly and comply with local laws. And while sports betting certainly began with the exchange of cash, the majority of sports betting organizations accept plastic, especially since many operate over the internet.

The internet has changed the way sports betting operates. Now the flow of currency is a worldwide phenomenon with operating funds in the billions of dollars, meaning more high payouts for winners. This year, the 2014 World Cup saw the highest sports betting activity in history, in total more than 20 million bets. 75% of bets were made via the internet, and 60% of these bets were made using a mobile device. In fact, mobile bets were up 146% when compared to a similar time frame the year before.

It is only a matter of time before sports betting is legalized in all 50 states. Now is the time for you to start your sports betting merchant account with Our expert account managers will bring around-the-clock service to your high risk merchant account. Sports betting merchant accounts will allow your business to accept plastic and other forms of payment from customers. Don’t limit your sports betting business to just cash.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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