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June 28, 2022 Online, iGaming, Results

PayNearMe research shows preferred payments options boost betting activity

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More than 2,000 people were surveyed in 19 states.

PayNearMe and Sapio Research have released a report that reflects the payment habits and preferences of iGaming bettors throughout the US. The study was conducted in February 2022 and primarily focused on deposits and withdrawals.

Those polled consisted of 2,051 people across 19 US states that have at least one form of legalized online betting.

According to the survey results, 49% of those polled said a positive betting experience was the most important aspect to betting online. The research showed that 52% of bettors had problems with declined payments when registering for new betting applications, and 17% never returned to complete the applications after they had experienced trouble with payments.

Of those surveyed, 32% said they would make larger deposits if they had access to their preferred deposit method, while 49% said they would play more and withdraw more often if they had the payment options they wanted. The report reflected that 64% of those surveyed preferred PayPal to any other payment method.

The company said in a statement from the report: “This research aimed to examine the payments experience of iGaming bettors in the US, particularly as it relates to deposits and withdrawals. For the purpose of this report, iGaming is defined as any activity that involves betting online. Our research has shown that, when bettors have access to their preferred payment types, they will interact with iGaming platforms more often.

“In order to improve the bettor experience and stay ahead of the competition, providers must give payment innovation as much weight as bonus offerings and access to industry leading content, or risk becoming irrelevant.”

PayNearMe now operates and processes payments in 19 US states for licensed online iGaming and sports betting operators. The company worked with the Arkansas Gaming Commission to ensure its platform complied with state requirements.

The company continues to focus on US expansion as more states legalize iGaming and online sports betting. PayNearMe recently brought New York its MoneyLine platform after receiving approval from the New York State Gaming Commission.

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