Zak Cutler, Paysafe CEO of North America iGaming, gives a payments perspective on Super Bowl LVI
The Paysafe executive highlighted that this Sunday could mark a paradigm shift for US online sports betting.
Paysafe, a prominent online payments brand operating in the iGaming and sports betting markets, has released its thoughts on the upcoming Super Bowl LVI.
Zak Cutler, CEO of North America iGaming at Paysafe, clearly sees the big game as a huge moment for sports betting and payments brands across the United States.
“We expect this Sunday’s game in the Los Angeles Rams’ home stadium against the Cincinnati Bengals to be the Super Bowl when US online and mobile sports-betting comes of age,” he said in quotes sent to Gaming America.
“The combination of New York with other newer regulated markets like Louisiana and Arizona, which launched in September, and the more than 20 other states that permit some form of sports betting, will ensure unprecedented betting volumes on America’s biggest annual sporting event.”
While this will be a huge revenue opportunity for operators, Cutler believes there are also challenges to be faced.
He noted: “The surge in betting volumes will also be a challenge to negotiate, especially for cashiers. Our broader ecommerce research in the fall ahead of the Black Friday weekend revealed that over a third of US merchants regularly receive online checkout issues during holiday spikes. This dynamic is doubly valid in the iGaming space, where customers are not only depositing, or paying funds into their accounts, but also cashing-out winnings from successful wagers.”
From a payments perspective, the executive believes that choice in payment options is central for operator success during the championship game.
“For online and mobile sports betting, there can be no play without pay. And the sportsbooks that get the depositing and payouts experience right in the countdown to Super Bowl LVI will gain a major competitive advantage.
“Our 2021 US sports-betting payments research revealed that frictionless payments was the top factor for players when choosing a sportsbook, and prioritized over all other criteria, including odds, sports markets offered, and bonuses.”
Undoubtedly, this weekend’s clash between the Los Angeles Rams and the Cincinnati Bengals will be unlike anything we have seen in US sports betting for some time, with Cutler echoing this sentiment.
“Ultimately, the US online and mobile sportsbooks that get their payments mix right for Super Bowl LVI will not only convert the most customers, but also keep them long after the crowds have left the SoFi Stadium in LA and they will be as much victors as the Rams or Bengals come Sunday.”
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