BetMGM has named Nuvei as its new payment provider for its mobile sportsbook and iGaming app.
“BetMGM will leverage Nuvei’s technology for instant deposits, payment orchestration, and proprietary smart routing features to maximize transaction success rates,” Nuvei said.
BetMGM will make use of Nuvei’s portfolio of U.S. payment options, including credit and debit cards, ACH, digital wallets, and eCash. The partnership will offer BetMGM with instant withdrawal options, including Real-time Payments (RTP).
BetMGM’s mobile sportsbook is licensed in 16 states, and the operator offer iGaming options in New Jersey and Pennsylvania through Borgata Online, Party Poker and Party Casino.
"Our partnership with BetMGM further solidifies our technological prowess and deeply rooted expertise in iGaming," said Philip Fayer, Nuvei’s Chair and CEO. "Our growing client base in the U.S. sports betting market is a testament to our experienced team and robust platform. We look forward to expanding our partnership with BetMGM, improving player satisfaction and delivering an increase in conversion rates."
Nuvei, based in Montreal, Canada, has seen its value skyrocket in 2021. The company the year trading at $56.30 on NASDAQ and is now above $126.
In May, Nuvei was approved to provide online sports betting and iGaming payments in Michigan. The company is licensed and regulated to provide its service to online sports betting operators in 10 states.
