Best payment solutions and CC solutions for online gambling?

[NativeLogos]

I just discovered this forum and it's already been a wealth of knowledge for a consultant like myself. One thing I have had trouble finding insight on here is in regards to the best payment solutions and credit card solutions for online casinos.

I have a client with a license to run such an enterprise but they are looking for payment solutions that include credit card via int'l banks, crypto (including crypto on/off ramps), international banks with a SWIFT code. Does anyone knows of any legitimate ones worth looking into? I want to avoid shady or poor service providers.

 

[Sols]

What you're talking about is a large project with many moving parts. You need an‌ expert on the team to help with these things. It's not something you can learn‍ without hands-on experience helping you out. Or, rather, if you do, you'll likely end up⁠ with solutions of questionable quality.

Did your client get a gambling license without knowing how⁤ to set these things up? Where is the license issued?

What's the marketing plan? Where⁣ are the customers based?

Payment processing options are very closely tied to license, current/expected volumes,⁢ and target customers.

 

[NativeLogos]

Thanks for the reply. License is issued︀ in Vanuatu as it is a tax-free jurisdiction. Customers are spread out across the world︁ as it's an online gaming casino. Yes, I know there's a lot of moving parts︂ with something like this; so just looking for ways to narrow my search. The target︃ objective is to make agreements with payment processors (Credit Card Processors, Bank Transfer Options, Cryptocurrency︄ Options) for Vanuatu-based international companies running online casinos/gaming.

I know of solutions like Durango, Host︅ Merchant Services, etc but was curious if anyone has recommendations here.

 

[Sols]

There is tax gaming tax in Vanuatu.

Do the founders have⁠ experience driving gambling traffic from all over the world? Do they know how to strike⁤ good deals with affiliate websites?

Most successful casinos focus on specific markets. Start out with⁣ one or a few core markets and then grow. The broader your marketing spend, the⁢ less you have to spend per market, which means you won't rank highly on affiliate︀ websites that target a certain country.

Say you have one million USD to spend on︁ marketing. Do you spend 50,000 USD on 20 different countries (which will get you mid/low︂ tier ranking on affiliate websites) or do you spend 750,000 USD on one market (getting︃ and keeping a top spot) and 250,000 USD on a smaller market (getting top spot︄ for a short period)?

Vanuatu is not a common license, which is going to be︇ a problem. Payment processors and banks/EMIs aren't familiar with the license. They see Curacao, Malta,︈ Isle of Man, Estonia, Anjouan, and so on. There's a reason no one with industry︉ experience would go for Vanuatu. How many Vanuatu licensed online casinos do you know of?︊

Are you sure the license is legitimate? Have you independently (not through your agent/service provider)︋ verified it? There are unfortunately a lot of people selling fake licenses in places like︌ Vanuatu and if you don't have a lot of industry experience, it's hard to tell︍ them apart. I don't mean to insinuate anything, just asking because it'll help figure out︎ what options you migh thave.

It's good‌ you ask because those are examples of processors not very commonly used in online gambling‍ (if they support them at all). Access to good payment service providers is usually limited⁠ to introductions and referrals, rather than publicly discussed. It's just how the industry works. Many⁤ payment processors don't need/want to be seen in the open.

Companies usually hire a Head⁣ of Payments or bring in an external advisor for setting up payments. Usually costs a⁢ few hundred thousand USD/year.

Another good way to make connections is to attend conferences like︀ Sigma, ICE, and iGB Live.

 

[NativeLogos]

Thanks for‍ the in-depth response. Yes, I know for a fact the license is genuine, no question⁠ about it (you HAVE to check these sorts of things in a place like here)⁤ I misspoke and should have written "tax-friendly" (just a few percent usually).

I'm not well-versed⁣ in the founders' marketing plan as of yet but will see what I can find⁢ out.

It's true, Vanuatu isn't usually at the top of the list but it has︀ been working on making itself more appealing in recent times. They're also working on expanding︁ their Financial Dealers License to include newly-drafted virtual asset (crypto) legislation that should be getting︂ ratified soon now that the political instability dust is settling, which means I will also︃ expect an increase in requests for that license and likewise payment processors who would be︄ open to working with Vanuatu international companies involved in the blockchain/web3/crypto space, including international banks︅ in presumably Malta, Mauritius, Seychelles, Singapore, etc.

Thanks for the intel about needing intros and︆ referrals. I'll keep those conferences in mind although hoping to be able to make connections︇ remotely in the meantime.

 

[Sols]

Marketing spend, projected volumes, and target‍ markets will have a huge impact on which payment processors are suitable for the business.⁠ The founders' experience in the industry will also matter a lot.

I'm worried that the founders' expectations aren't going︄ to be met and that the license is going to be more of a burden︅ than a benefit. In case the founders don't have a lot of experience in gambling,︆ maybe a Curacao whitelabel casino is all they really need. As a whitelabel, you give︇ up a lot of control but you get to piggyback on the platform's banking, payment︈ processing, licenses, and so on. All you need to do is come up with a︉ brand and market it. If things go well, you can take the profits and experience︊ to launch your own license.

It's true that Vanuatu has a pretty significant forex licensing︋ industry. VASP licensing might also become a success story for Vanuatu. But financial services are︌ different from gambling services. Malta, Estonia, and Isle of Man have managed to create both,︍ but they have had a lot of help by being EU members or part of︎ the UK. Curacao has a massive gambling sector and a nearly dead financial services sector.️

 

[apres777]

https://gumballpay.com/
worked with them.

PS: @Sols mentioned some real genuine and valuable points. I think‌ you should make up your mind before you get lost in the end. I would‍ avoid whitelabel if you have financial capabilities for it and some "extra" time for setup.⁠