Nuvei gets green light to process New York sports betting payments

By Gambling Insider

Nuvei has received approval to process payments for sportsbook operators in New York.

The New York State Gaming Commission (NYSGC) gave the Montreal-based Nuvei its go ahead to handle transactions for the newly regulated market’s licensed sports betting platforms.

Four operators — Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive (RSI) — began accepting online and mobile wagers on Saturday 8 January, followed by BetMGM on 17 January. Once regulatory approvals are finalised, four more operators are expected to join these first five.

The Empire State is the most recent and, to date, most populous US jurisdiction to approve digital sports betting. Since launch, New York has continued to outperform other states, with more than 1.2 million sports betting accounts created between 8 and 17 January.

As a result, Nuvei is looking to break into this lucrative market as it continues to expand across North America. The company’s Chairman and CEO Philip Fayer commented on this development, saying: “Nuvei announced strategic alliances this past year with multiple US-regulated operators.

“We are pleased to now be supporting online sports betting operators and platform providers with a convenient, fast and secure payments capability to serve their New York customers.

“This marks another step in our journey to expand with the growing industry as several states and countries are in the process of regulating online sports betting.”

Nuvei is not the first payments firm to enter New York’s digital betting market. PayNearMe brought its MoneyLine platform to the state earlier this month after receiving approval from the NYSGC.

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