Trust Payments, a front runner in online gaming with its compliance and payments platform, has partnered with FABICash, a leader in casino cash access and compliance solutions to launch the first end-to-end sports betting online and offline platform for deposits and payments. The platform enables FABI’s extensive casino client base and new customers to link on-premise sports betting with online and mobile-based sports betting. Together, the companies have created a solution with multiple (card, ACH, prepaid) pay-in and pay-out solutions that are simple, secure and instant for their players.
With the U.S. Supreme Court’s overturning of PAPSA, casinos throughout the U.S. are rushing to offer sports betting in legalized states. According to Eilers & Krejcik Gaming, the total U.S. market for sports betting could exceed $6 billion by 2023. As the new industry expands, casinos and their patrons are seeking platforms and payment solutions to fund both on-premise and online sports betting.
FABISport is designed to provide security, engage and retain customers in a highly competitive industry, and reduce costs while generating additional revenue for casinos. The solution was also designed to manage the casinos’ regulatory compliance activities.
Central to FABISport is a prepaid card program that enable players to fund their online sports-betting accounts. For bettors, FABISport provides a simple, straightforward online application process, allowing them to quickly get into the game. It’s combined with FABITrack, the Title 31 Compliance and AML Data Analytics software application, for a superior sports-betting solution.
Launched in 2014, Trust Payment’s ST1 compliance and payments solution is a highly-specialized platform for regulated online gaming merchants, and now for sports betting. With more than 15 years of experience in Europe supporting key online poker and sports gaming clients, Trust Payments has imported both the product and knowledge from a legal, regulatory and compliance standpoint to support FABI’s client base and the industry. With a presence in Atlanta, London and Malta, Trust Payments provides an ST1 solution focused on two key industry challenges:
1. Providing flexible payment options for pay-in and pay-out of winnings; and
2. Assuring bettors are compliant with state regulations
“Trust Payments was the most like-minded partner for us when it came to payment processing,” says FABI President Anthony Rabito. “The company’s status as best-in-class for technology with a flexible design, allowing casinos and sports betting operators to maintain control of their player on-boarding and payments strategy, as well as its open-loop prepaid program, was highly attractive to us. Importing experience from mature markets like Europe is key as our industry evolves.”
“Trust Payments is always looking to partner with forward-thinking and innovative companies that are helping to drive the industry forward,” adds Trust Payments founder Kobus Paulsen. “At the dawn of legalized sports betting in the U.S., now is the perfect time for us to partner with a fantastic company such as FABI.”
“FABI has a wealth of experience and are real experts in what they do,” agrees U.S. Senior Vice President Kevin Dodson. “That’s why we were keen to partner with them. We look forward to a long and mutually beneficial partnership in this exciting new world of sports betting within the U.S.”
For more information, visit FABI and Trust Payments Booth 1820 at the G2E event.