Nuvei named new BetMGM payment provider, gets Connecticut approval for sports betting

Nuvei Corporation announced on Wednesday that its wholly-owned subsidiary has been granted an online gaming service provider vendor registration in Connecticut. The registration was approved by the Connecticut Board of Consumer Protection and allows Nuvei to support sports betting and iGaming operators within the state.

Online sports betting was legalized in Connecticut in May 2021. Since the law’s passage, operators in the state have been preparing to debut their sports betting and iGaming capabilities, with the first legal online sportsbooks going live as of October 19.

The announcement comes after BetMGM chose Nuvei to provide a seamless payment experience for its players in the U.S, announced last Thursday.

Philip Fayer, Nuvei’s Chair and CEO commented on the partnership and said: “Our partnership with BetMGM further solidifies our technological prowess and deeply rooted expertise in iGaming. Our growing client base in the U.S. sports betting market is a testament to our experienced team and robust platform. We look forward to expanding our partnership with BetMGM, improving player satisfaction, and delivering an increase in conversion rates.”

BetMGM will leverage Nuvei’s technology for instant deposits, payment orchestration, and proprietary smart routing features to maximize transaction success rates. BetMGM will also benefit from Nuvei’s extensive portfolio of U.S. payment options, including credit and debit cards, ACH, digital wallets, and eCash. In addition, the partnership will provide BetMGM with instant withdrawal options, including Real-time Payments (RTP).

Nuvei stands as a proven solution provider to assist operators with industry expertise and payment processing technology that includes a revenue optimization suite, streamlined pay-ins through a variety of payment methods including cards, ACH and alternative payments, net deposits, real-time fraud detection, risk management, and instant payouts.