After the Gaming Commission granted approval for a number of operators to issue legal online sports betting in New York, three have expanded into the state with MoneyLine.
Michael Kaplan, PayNearMe CRO and GM, stated: “These clients are some of the industry’s largest operators. They have been accepting cash deposits at retail locations with PayNearMe for years and can now accept players’ cash deposits for mobile sports betting in New York.
“We are actively working to launch additional operators upon approval and are thrilled to be paving the way in iGaming with our MoneyLine platform.”
Receiving New York approval in December 2021, PayNearMe has expanded its iGaming and online sports betting footprint into 18 states.
Kaplan continued: “Enabling our clients to go live on the same day online gambling was legalised in the state of New York ensures they will be able to seamlessly manage the billions of dollars projected to be wagered online in New York over the next year.
“Ahead of the Super Bowl, millions of fans are watching and wagering on NFL and college playoffs. PayNearMe operators will be able to offer cash as a convenient and guaranteed deposit method.”
Connor McNulty, PayNearMe Senior Regulatory Counsel, commented on how the complex process of managing deposits requires technology uniquely designed for the sports betting and iGaming industries, saying: “We have deep expertise in the industry and have worked closely with the New York Gaming Commission to ensure our service is compliant with all applicable statutory requirements.
“PayNearMe is focused on quickly and efficiently gaining approval as new states legalise online sports betting and iGaming.”
