Paysafe says payment choice key for sports bettors

Paysafe has released a new report that emphasises the importance of choice when it comes to transactions and sports betting on online platforms. 

Surveying more than 3,000 sports bettors, the study titled “All the Ways Players Pay” unveiled that payment speeds are the most crucial factor for customers looking at options for placing a bet – even before they consider the brand trust, promotion variety or the odds on offer.

A total of 34% of global players put easy payouts as a priority compared to brand trust (33%), promotions and odds (24% each), user experience (18%), and sports market variety (17%). Around 25% will also look for their preferred payment method. 

Zak Cutler, President of Global Gaming at Paysafe, said: “Our latest ‘All the Ways Players Pay’ research report surveys online sports bettors’ transactional preferences across an unprecedented range of regulated markets in the Americas and Europe.”

In terms of payment preferences, 42% of bettors around the world on average choose to bet with debit cards. When this is explored more locally, there are regions where debit cards are even more prominent, like Mexico (63%) and Peru (56%). 

Opposite of that, credit cards are favored by an average of 24% of players globally, with France being the leading market (39%). 

Of interest, digital wallets are increasing in popularity, being the preferred payment method for 38% of global players. Divided by markets, the trend setters for this seem to be Argentina (52%), as well as the US – with New York and Florida scoring 48% and 46% respectively. 

Now, looking at the reason that would most deter sport bettors from taking a bet. A total of 32% say that this is most likely to happen out of fraud concerns. And while transaction security has improved, with 66% of players feeling more confident compared to last year, operators should still be aware that 8% feel less secure, and 26% remain uncertain.

Cutler concluded: “Payments are crucial for player acquisition and retention in every single market, but there can be no one-size-fits-all approach. 

“Operators will only maximise conversions and minimise churn if they localise their cashiers and respond to player demand for an exhaustive range of payment options that balance transactional speed with security.”