Paysafe Limited (NYSE: PSFE) confirmed that it is accepting payments from private iGaming operators in Ontario's enlarged market, which is being introduced today. Paysafe is now enabling payments for prominent operators in Ontario's new private sector, building on long-standing payments collaborations with provincial government-run lotteries in Canada.
Paysafe has bolstered its presence in Canada's most populous province, which has a population of 14.6 million people, by expanding its multi-state U.S. payment collaborations with a variety of operators into the Ontarian market, which, according to Vixio, is likely to generate gross revenues of C$1.86 billion by 2026. PointsBet (ASX: PBH) and theScore Bet, a wholly-owned subsidiary of Penn National Gaming, are among these partners (NASDAQ: PENN).
Paysafe has confirmed that these online sports betting and casino businesses may accept credit and debit card deposits through a single, simplified interface with Paysafe, with all transactions completed effortlessly by Paysafe's best-in-class payment gateway. Players will be able to use the whole range of Paysafe's alternative payment methods, including its eCash solutions, thanks to the gaming brands' integration with the company.
Furthermore, in the coming weeks, Paysafe will also reveal new iGaming payments tools and operator agreements for the Ontario market. Paysafe has been processing online payments for the Ontario Lottery and Gaming Corporation (OLGonline)'s gaming brand OLG.ca since its introduction in 2015. The company has roots in Montreal and has over 20 plus years of experience in iGaming payments.