There is an insane rate of rise for the requirements of sports betting Merchant account at a global level. This sports betting and Gaming merchant accounts fall into the High Risk Merchant Account category.
The PASPA (Professional and Amateur Sports Protection Act) implemented in the 1992 signed by George Bush made sports betting illegal all over and there was a ban on such merchant accounts. But recently in May 2018, the US Supreme court overruled the PASPA act and took a step towards legalization of Gaming and Sports Betting. This move, from the Supreme Court, is without a doubt, a victory for the major sports leagues.
Due to the very high money making possibilities, lot of merchants are interested in getting involved with the sports betting. The reversal of the PASPA act has given a new hope to all such merchants.
But before getting involved in such business with High Risk, you need to sit back and take some precautions, so that you don’t have to face any problems going forward. You need to consult with a reputed Financial Institutions before registering for such high-risk merchant accounts.
Apply with Merchant Service providers who have a high rate of High Risk Merchant Account approval. Taking necessary precautions is always much better that blindly jumping into the valley.
There may be transactions with high amounts in such business, so that first thing you take care of is a highly secure Payment Gateway for fluent credit card payment processing.
As the gaming and sports betting merchant account is High Risk Merchant Account, the service providers will always take a look at the history of the person getting involved in this business. They will be considering the factors like, Bank Statements, Credit Scores, Negative Bank Balance, Chargeback Rate, etc.
Operating a business successfully in an ultra-competitive market means having the ability to adapt and evolve to fit new trends and meet customer demands.
Shifting consumer preferences and new technology also means business has undergone a massive change in the way products/services are bought and sold. Slowly but gradually the shift from cash-only to plastic money is happening, especially with online businesses on the rise.
Another increasing popular trend in terms of payment preferences in recent times is accepting cryptocurrency for products and services. The digital currency may be only be relatively new but has seen massive growth all around the world.
Get the right Cryptocurrency Merchant Account for your business
Are you merchant with an online business wanting to stand out and expand? Opening a Cryptocurrency Merchant Account to accept payments would be extremely beneficial for you, especially if your customer base includes a largely younger audience.
A Point of Sale (POS) system as well as a secure payment gateway is necessary to accept crypto, for stores and online businesses.
Apart from attracting new customers and adapting to new technology, accepting cryptocurrency is also beneficial in providing extra security, decreasing frauds and quick transaction processing.
Aside from merchants, Crypto traders can also take advantage of Crypto Payment Gateway that allows one to buy cryptos using debit or credit cards. Using the payment gateway, accept card payments and issue cryptocurrency to customers or companies.
Although obtaining a cryptocurrency merchant account might seem like a task. One of the reasons being since the value of such digital currency changing withing a short interval at the time of purchase labeling the industry as high risk.
However, there are plenty of High Risk Merchant Account providers making it possible for such merchants to allow accepting digital currencies as payment. A reputable processor will allow you to open a merchant account that will be tailored to suit your business needs at lower rates.
The prize of bitcoin is reaching new heights with each
passing day, so it comes without surprise that the interest of public to invest
in bitcoin is also increasing, even large MNC corporations are ready to invest
in bitcoin as they see bitcoin as the financial future. So, small businesses
are also taught to start accepting bitcoin Payments to match themselves for the
If you are a small business owner and want to accept bitcoin payment for your provided goods and services, than this guide is to help you through the procedure to start accepting the payments. There are a number of ways to start accepting such payments.
The above is the sign that will help to start with the
process. It will also help your consumers to be interested in doing bitcoin
payments and they will be easily able to make contact with you directly.
1. If you are a store or a shop, your consumers can pay you
through terminals like mobile apps, wallet addresses, QR Codes, etc.
2. If you are a online website implementation of accepting bitcoins would be done by competent programmer to help you.
Along with the bright day comes a dark night, which means, along with all the profits with bitcoin there are high chances of frauds in it. There are chances that fraudsters may send fake invoices to your consumers and ask them to make payments to the bitcoin address they have control of. So it is very necessary that you apply the best way to avoid all the frauds so that the fraudsters do not get the information about your consumers. For which you need to consult best Bitcoin Merchant Account provider to avoid fraudulent activities in your business transactions.
Payments of Bitcoin Income:
You need to consult with a educated accountant or lawyer to
deal with this aspect of accepting bitcoin payments.
Following all the above steps will help to accomplish your
goal of accepting bitcoin Payments.