World Cup Sports Betting Bonanza

Aug 08, 2014
downloadSports betting is a growing industry. This year firms have seen increases in bets, especially due to the World Cup. With millions at stake, firms are increasing their technology and growing internationally to capitalize on the expanding market.

This year was the 2014 World Cup, a quadrennial event that draws spectators from around the world to watch the most popular sport on the globe. As with any major sports event alongside the spectatorship is gambling. Betting on the World Cup increased 80% this year in comparison to four years ago according to William Hill, one of the industry leaders amongst bookmakers in the United Kingdom.

The statistics for wagers related to this years’ match are staggering. In total a little more than 20 million bets valued at £227 million were made. What is even more interesting than these figures is the method that betters chose to make their wagers. 75% of them made their bets online and 60% of the online bets were made using a tablet or mobile device. Mobile bets were the clear winner of the World Cup having experienced a 146% increase when compared to a similar time frame in 2013.

During the month long tournament there were many incredible wagers. The most unbelievable being an 80p stake that won £240 at 300/1 odds in the Germany versus Brazil match. Many other matches saw high returns for those willing to risk a bit of cash. The largest bet being £207,000 in the Argentina versus Iran match.

Due to these telling statistics firms such as William Hill will build their online presence and expand overseas to new markets. Many businesses will likely be created to fill the online and mobile betting gap. A sports betting merchant account would enable a business to process transactions in a fast and efficient manner. With a sports betting merchant account firms can therefore process more transactions and serve more gamblers.

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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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