PXP FINANCIAL
But successfully addressing the challenges of state-by-state regulation can allow gaming merchants to open up new customer bases, and payment providers with local knowledge can help speed up the journey. A payment provider can take on all the complexities of understanding the payment ecosystem in the US so the merchant can focus on providing an engaging and immersive customer experience.
THE STATES DRIVING CHANGE Complex as it is, the regulatory landscape across the
US is changing, and there are a number of states paving the way when it comes to gambling legislation, particularly on the East Coast. New Jersey has been something of a trendsetter, being the first state to legalise sports betting outside Nevada, and neighbouring New York has also passed laws to include online gambling, although currently only for online sports betting and not online casinos (a Bill has been proposed for that as well and could be passed before the end of 2022). Legal sports betting in Pennsylvania became a reality soon after the US Supreme Court overturned a federal ban on sports betting, and it now collects more tax from operators than any other state. While New Jersey is still the largest sports betting market in the nation, Pennsylvania has shown impressive growth rates. Once the success of regulations in states like these is established, they can act as a blueprint for others to follow suit.
There are partners out there that can help gaming operators adapt to the regulatory gaming landscape in each state as it evolves. At PXP we make sure our customers are provided with a compliant system ahead of launch, so they can operate as soon as they launch in their target state. This has secured a way for iGaming operators, casinos and sports bookmakers to offer their entertainment fast and free of restrictions.
THE FUTURE OF ONLINE GAMBLING AND GAMING PAYMENTS
Consumer adoption of alternative payment methods (APMs) is growing exponentially and will continue to grow throughout 2022 and beyond.
Gaming operators who cannot accept a customers’ preferred payment method will hinder the player experience and inevitably suffer lost revenue. In fact, a study in the US found that 42% of American consumers will bring a purchase to a halt if their favourite payment method isn’t available. APMs add an agility to today’s gaming operators that allow them to give consumers whatever payment method they want, wherever they are. As adoption of APMs continues its steep upwards trend, this capability will become increasingly essential for gaming operators looking to scale in the US.
THE IMPORTANCE OF PARTNERSHIP PSPs can help merchants successfully reduce the
friction caused when entering a new state, but it’s important to partner with a company which understands the variations in US regulations; it will
help future-proof your business in the face of an ever-changing and complex landscape. PXP has 30% of online market share in the US where it has been operating since 2013, and as such we have a deep understanding of the landscape. By delivering a full payments provider that is flexible in what it offers, we can easily adapt to the needs of merchants in each state, making expansion a more seamless process.
GIO JUNE 2022 7
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
