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]

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.

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

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

 

[Sols]

License is issued in Vanuatu as it is a tax-free jurisdiction.

There is tax gaming tax in Vanuatu.

Customers are spread out across the world as it's an online gaming casino.

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 affiliate websites that target a certain country.

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

The target objective is to make agreements with payment processors (Credit Card Processors, Bank Transfer Options, Cryptocurrency Options) for Vanuatu-based international companies running online casinos/gaming.

Vanuatu is not a common license, which is going to be 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 industry 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 like Vanuatu and if you don't have a lot of industry experience, it's hard to tell them apart. I don't mean to insinuate anything, just asking because it'll help figure out what options you migh thave.

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

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 like Sigma, ICE, and iGB Live.

 

[NativeLogos]

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 affiliate websites that target a certain country.

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


Vanuatu is not a common license, which is going to be 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 industry 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 like Vanuatu and if you don't have a lot of industry experience, it's hard to tell them apart. I don't mean to insinuate anything, just asking because it'll help figure out 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 like Sigma, ICE, and iGB Live.

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 has been working on making itself more appealing in recent times. They're also working on expanding their Financial Dealers License to include newly-drafted virtual asset (crypto) legislation that should be getting ratified soon now that the political instability dust is settling, which means I will also expect an increase in requests for that license and likewise payment processors who would be open to working with Vanuatu international companies involved in the blockchain/web3/crypto space, including international banks in presumably Malta, Mauritius, Seychelles, Singapore, etc.

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

 

[Sols]

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

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.

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

I'm worried that the founders' expectations aren't going to be met and that the license is going to be more of a burden 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 give up a lot of control but you get to piggyback on the platform's banking, payment processing, licenses, and so on. All you need to do is come up with a brand and market it. If things go well, you can take the profits and experience to launch your own license.

It's true that Vanuatu has a pretty significant forex licensing industry. VASP licensing might also become a success story for Vanuatu. But financial services are 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 of the UK. Curacao has a massive gambling sector and a nearly dead financial services sector.

 

[apres777]

Gumballpay - Home page

Payment transaction processing by professionals

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.