Gambling may soon be coming to a city near you, thanks to ramped up talks of legalizing fantasy sports betting. While it is often done in break rooms and gyms, it is not legal just yet. The legalization can mean big business for large and small establishments, as well as added tax revenue. If, or should we say when, it is finally legalized; fantasy sports betting merchants may have issues processing their payments.
Payment processing is a big business, but the processors do not cater to every type of business. Legalized fantasy sports betting merchants will no doubt face issues getting a merchant account, as their businesses will be placed into the “high risk” category. Businesses in the categories range from car dealerships to online auction websites to gambling websites. They are categorized as such because they have a higher risk of incurring fraudulent charges. If you try obtaining a high risk merchant account from a traditional processor or banks, one of two things will happen: Option 1 is that you will be turned down completely, and option 2 is that they will offer you can account, with sky-high fees. You need to know that there is another option for your high risk business. That option is EMB.
With EMB, you are getting the foremost experts in high risk accounts. We are also one of the few that already offer legalized fantasy sports betting merchant accounts, so we are ready when legalization hits your area. In additional to industry-standard fees and outstanding security, we also offer all of our merchants a chargeback suite, which can help keep chargeback fees low. These fees occur when a fraudulent charge is made, and without chargeback insurance, the fees can be upwards of 270% of the original charge. For more information about legalized fantasy sports betting merchant accounts, contact us today.