Paysafe Enters Michigan’s iGaming Market

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Paysafe Enters Michigan's iGaming Market

Paysafe will launch Paysafecard eCash products and Skrill digital wallet in the region, allowing bettors to deposit money and stake in sporting events in a secure manner.

For more than a decade, the firm has provided payment solutions to Flutter Entertainment -Fox Bet’s parent company – through Betfair and PokerStars Brands. Customers in Colorado, New Jersey, and Pennsylvania can now use the Fox Bet brand’s Paysafe services.

Philip McHugh, Paysafe’s CEO, stated that they are happy to strengthen their cooperation with Fox Bet. He also noted that Americans are embracing the alternative payment method. The integration of skrill and Paysafecard solutions will help players to play in different ways with much ease.

On the other hand, Fox Bet will offer customers the chance to gamble on different sporting events in Michigan using Paysafe solutions, including NBA.

Paysafe revealed its first-quarter 2021 results last month, showing a $17.7 million increase in revenue year over year to $377.4 million, but a total net loss of $49.0 million.

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