As a high-risk industry, gambling merchants face unique issues when it comes to payments. Despite the lucrative opportunities for growth, many of these companies struggle to acquire merchant accounts that will allow them to accept credit cards and other forms of payment. In this blog post, Maxpay explores some of the key nuances associated with gambling merchant services and reveals how to secure a reliable account for your business.

Unlike ecommerce merchant accounts, gambling merchant accounts must be used to make payouts to customers in cases where a monetary prize is won. While this isn’t an issue for businesses that operate exclusively online, it does create a potential liability in the event of a dispute or fraud. This is why it is essential to work with a merchant service provider that understands the unique risks associated with this type of transaction and can offer comprehensive protection to minimize these risks.

A specialized gambling merchant account can help mitigate the risk associated with this high-risk industry by offering unique protections for these transactions. For example, these accounts can include multiple merchant IDs that are used to process payments, which prevents a single mistake from impacting the entire business. They can also include international payment processing capabilities that enable businesses to reach a global audience, as well as advanced fraud prevention tools that will prevent unauthorized transactions.

If you’re looking for a gambling merchant account, be sure to look for one that offers a dedicated support team that can answer your questions in real-time and provide guidance when necessary. It’s also worth checking out the customer support experience of each provider before making a decision. One such option is European Merchant Services (UK) Limited, which has a strong reputation for working with high-risk businesses and is known to prioritize customer satisfaction.