Friday, June 15th, 2018
When it’s time to look for a gambling merchant account, you want one that is efficient, flexible, and offers affordable rates and simple currency conversion. Online gambling isn’t fully regulated in some countries, such as the United States, China, and Turkey, so it is important that you know the rules and whether your customers live in areas with sketchy laws. After careful consideration, we have determined that the following businesses offer the best online gambling merchant accounts:
Originally established in Canada in 1999, NETELLER moved five years later to the Isle of Man to take advantage of UK and European gambling regulations. Owned by UK-based company, Paysafe Group, NETELLER is considered one of the most popular payment platforms for online gambling and gaming. Though it operates in more than 200 countries, it doesn’t support the U.S. and Canadian markets. It uses a VIP tier-based system, which is determined by how often you use your account.
Accounts are based on the following amounts that are transferred to the merchant annually:
- Bronze: $10,000
- Silver: $50,000
- Gold: $100,000
- Platinum: $500,000
- Diamond: $2 million
The higher your tier, the more savings and benefits you get. Gold, platinum, and diamond accounts automatically receive higher limits on all transactions, and they can withdraw up to $3,300 per day. Silver and bronze accounts can withdraw up to $1,000 per day. Those with silver accounts and higher also get free money transfers.
Headquartered in London and founded in 2001, Skrill is an e-wallet that formerly operated as Moneybookers. Skrill is part of The Skrill Group, which also includes Paysafecard, Payolution, and Ukash. Individuals can use its services to deposit funds on gaming and casino sites. Those in countries, including the United States, Israel, Turkey, and China, where online gambling laws are unclear or prohibited, can have Skrill accounts but cannot use if for gambling or gaming. Since it handles global payments in close to 200 countries and 40 currencies, Skrill is a good choice for international money transfers.
It uses a VIP, tiered system that is based on the following amounts that are transferred the merchant on a quarterly basis, as follows:
- Bronze: €6,000
- Silver: €15,000
- Gold: €45,000
- Diamond: €90,000
As account holders reach higher tiers, they can take advantage of more discounts and other perks. Also, there is no set-up fee for the account. Though it is free to receive money into your e-wallet, there is a 1.9% charge to send money, up to a maximum of €20.
3. Soar Payments
Established in Houston, Texas in 2015, Soar Payments offers merchant accounts for fantasy sports, online gambling and gaming, and sports forecasting. In addition to supporting high-ticket purchases and weekly payments, it accepts all major currencies and doesn’t charge an application fee.
Merchant account rates range between 3.95% and 7.95%. Monthly fees range between $35 and $120 per month.
4. GPN Data Merchant Services
Based in Poland, GPN Data Merchant Services is an international merchant account provider and credit card processor that works many high-risk businesses, including online gambling and casinos. Though it offers weekly payments, it doesn’t support mobile, wireless, or ACH payments. Also, to take advantage of GPN’s rates, merchants must have minimum monthly volumes of $15,000. For swiped, ecommerce, and phone processing, it charges 8% plus $1 per transaction.
5. InstaBill Merchant Services
Established in 2001, InstaBill is an international and offshore merchant account provider that specializes in providing accounts to high-risk merchants, such as those in the online gaming and gambling business. It accepts businesses that are on the MATCH list, which is a list of merchants that have had their merchant accounts terminated. Though it charges a hefty application fee of $500, it offers rates between 4.95% and 12%.
Topics discussed in this article:
- Best Online Gambling Merchant Accounts