Paysafe and FOX Bet expand partnership into Michigan sports betting market

Specialized payments platform Paysafe announced an expanded partnership with FOX Bet, a U.S. online and mobile sports-betting platform operated by Flutter Entertainment.

"Building on Paysafe integrations across multiple states, FOX Bet has now strengthened its Michigan sportsbook’s payments offering with the Skrill digital wallet and Paysafecard eCash solution," highlighted the company in a press release.

Paysafe has streamlined payments for Flutter Entertainment’s Betfair and PokerStars brands, and its Skrill solution is already integrated with FOX Bet’s Colorado, New Jersey, and Pennsylvania offerings.

Players in Michigan wanting to wager on FOX Bet’s comprehensive range of sports markets, from NFL football, NBA basketball, MLB baseball, and NHL hockey, to Mixed Martial Arts (MMA) and local and international soccer games, can use Skrill to make deposits into their sportsbook accounts.

The addition of both Skrill and Paysafecard will allow FOX Bet to serve sports bettors in Michigan. After credit and debit cards, digital wallets are "Americans’ preferred online payment method", with 40% of consumers using a wallet like Skrill at least monthly, according to Paysafe’s 2021 consumer survey. The research also revealed that 12% of Americans are using eCash products like Paysafecard once a month or more.

Paysafecard is now available to make deposits with FOX Bet in Michigan and becomes the brand’s very first integrated eCash solution for players whose payment preference is cash. Available at thousands of U.S. retailers, the solution can be purchased in denominations of $10, $25, $50, and $100, providing consumers with a 16-digit code to make online or mobile deposits into their FOX Bet account.

The Paysafe partnership also supports payouts. Winnings can be withdrawn directly into Michigan players’ Skrill accounts and then transferred in real-time to their bank accounts. Customers can also use the Skrill Visa Prepaid Card to withdraw winnings as cash from an ATM.

Philip McHugh, CEO of Paysafe stated: “We’re delighted to strengthen our partnership with FOX Bet. Americans are keenly embracing alternative payment methods, so integrating our best-in-class Skrill and Paysafecard solutions, both specifically tailored to sports betting, will ensure that FOX Bet offers all the different ways that players want to pay when they play.”