Nuvei receives approval to process sports betting payments in New York
The New York State Gaming Commission has given the company the green light.
Nuvei has received approval from the New York State Gaming Commission (NYSGC) to process payments for sportsbook operators.
The Montreal-based Nuvei will now be able to handle transactions for the newly regulated market’s licensed sports betting platforms.
“This marks another step in our journey to expand with the growing industry as several states and countries are in the process of regulating online sports betting,” said Nuvei’s Chairman and CEO Philip Fayer.
Nuvei is not the first payments firm to enter this digital betting market. PayNearMe brought New York its MoneyLine platform earlier this month after receiving approval from the NYSGC.
New York has outperformed other states since launching legal digital sports betting on January 8. Since the launch, more than 1.2 million betting accounts have been created.
“We are pleased to now be supporting online sports betting operators and platform providers with a convenient, fast and secure payments capability to serve their New York customers,” Fayer said.
Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive (RSI) began accepting online and mobile wagers on January 8, followed by BetMGM on January 17.
Four more operators are expected to join these first five once regulatory approvals are finalized.
Fayer said Nuvei is looking to break into this lucrative market as it continues to expand across North America. The company has also announced strategic alliances with multiple US-regulated operators this past year.
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