The Rising Need for Sports Betting Merchant Accounts

Jul 29, 2014

The sports betting world and Wall Street

NCAA Tourney Draws Fans To Las Vegas Gambling HouseThis year, the Super Bowl is projected to be the biggest sports betting event, aside from the World Cup in Brazil. Though it is difficult to give an exact estimate due to the lack of regulation is some parts of the world, professional sports betters reveal that there will be billions being wagered.

The interesting thing about the sports betting industry is that it operates much like Wall Street. Their strategies, tactics, professionals and amateurs are very similar. Instead of betting your all, you do so using spreads. Your portfolio is diversified. In the sports betting world, you have side bets, or “prop bets”.

Twenty to thirty years ago, bettors were playing against the sportsbook. That is simply not true in today’s world. Now, bettors are playing against the global marketplace. The amount of money flow that moves through the global market is well into the billions of dollars.

Ted Servansky (a.k.a “Teddy Covers), Vegas-based sports bettor/ESPN columnist, comments, “So it’s not a bettor versus the bookie or the book, it’s a bettor versus the marketplace and that’s a very similar concept to what we see on Wall Street. It’s not you against the house when you’re trying to pick a rising stock. It’s you and your valuation against the market valuation.”

According to Servansky, it is possible to make a living off of the wagers you make in this industry. At that point, you have become a professional sports bettor. It is all about honing your skills, making smart decisions and raising a high enough bankroll.

For the sports betting advice companies in the industry, a merchant account is the way to go. Sports betting merchant accounts can offer those in the industry electronic payment processing services. Because of the high risks associated with the industry, merchant accounts are necessary since traditional banks usually reject offering their processing services.

At emerchantbroker.com, support is offered for your high risk merchant account as long as certain requirements are meant. For example, the chargeback rate must remain belong 3%.

Contact us today for a Sports Betting Merchant Account

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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 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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