Arizona has approved PayNearMe for sports betting payments.
On Tuesday, PayNearMe, a gaming processing company, announced that it has received approval from the Arizona Department of Gaming to begin accepting sports betting payments from users in Arizona.
PayNearMe has announced a partnership with Penn National Gaming/Barstool Sports and three other operators in Arizona, enabling bettors to make cash deposits at retail locations, as stated in a press release.
Arizona started taking its first legal sports bets on September 9, just in time for NFL and Arizona Cardinals betting. The Cardinals have opened the season with a perfect 2-0 record.
The company’s goal, as stated by Michael Kaplan, chief revenue officer and general manager of PayNearMe, is to partner with additional Arizona sports betting apps to streamline the process of making cash and electronic deposits.
In the release, Kaplan emphasized the importance of a smooth deposit process for players, noting that PayNearMe’s iGaming solution offers operators the ability to improve the overall gaming experience. This solution allows players to easily deposit funds into their accounts using their preferred payment method, including Apple Pay and Google Pay, directly from their smartphones. As more states legalize online sports betting, PayNearMe’s technology and electronic cash network provide operators with the tools needed to efficiently expand into new markets.
What benefits does PayNearMe provide operators?
The release states that PayNearMe’s services are tailor-made for the iGaming industry, with the company holding licenses for sports betting and online casinos in 14 states.
Connor McNulty, the senior regulatory counsel and expert in BSA/AML/OFAC compliance at the company, is confident that the company’s primary advantage for operators lies in its vast experience in handling the intricacies of iGaming payment processing.
According to McNulty, our team has a deep understanding of the gaming industry and has worked closely with the Arizona Department of Gaming to ensure that our service complies with all necessary legal regulations.
The company’s main focus is to offer users top-notch services that enable them to conveniently deposit funds, withdraw winnings, and access a variety of features all within a single platform.
PayNearMe has partnered with leading operators like BetMGM and FanDuel to process cash deposits for nine of the top 10 operators in the United States.
Initially, which operators will form partnerships?
Currently, the only known PayNearMe partner in Arizona is Penn National Gaming/Barstool Sports. They have announced their partnership to facilitate payment processing through the mobile app within the state.
Jake Francis, Penn Interactive/Barstool Sports’ senior director of operations, is excited about the company’s new partnership with PayNearMe in Arizona. He is confident that this collaboration will simplify payouts and deposits for users in the state.
Francis announced in the press release that they are ready to expand the Barstool Sportsbook & Casino app across the country as more states legalize sports betting. They will be able to accept cash deposits efficiently using PayNearMe’s technology as states begin launching their operations.
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Author
Peterson Christopher has been reporting on sports and sports betting in Arizona for more than seven years, serving as the lead writer at yengols.com. He has previously held positions at ArizonaSports.com, the Tucson Weekly, and the Green Valley News.
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