The fantasy sports industry has been growing and expanding over the past decade. Initially, the industry started with backing by the NFL (National Football League) and allowed people to create their own professional football teams, which they could then bet on. If their team did well, they could make some money on the wins. If they lost, then they would be out however much they bet.
Over the years, fantasy sports have spread into other sports, including:
- MLB (Major League Baseball)
- NHL (National Hockey League)
- NCAA (National Collegiate Athletic Association)
- NBA (National Basketball Association)
- NASCAR Racing
- Soccer
- PGA (Professional Golfers’ Association)
As the industry has expanded, so, too, have the diverse types of offerings made available by different companies in this industry. Today you can find premium services, sports draft software and apps, cheat codes, fantasy sports kits, magazines, and more. Even with the growth of this industry, as you already know, it is considered high risk by merchant account providers.
High Risk Fantasy Sports Merchant Accounts: Get Approved Today
There is nothing better than being able to create your own fantasy teams and compete with your friends. What you may not know is that you can become a “league commissioner” and start your own fantasy sports website where you can make money. Anyone who wants to join your league is charged a fee they have to pay—part of which goes directly into your pocket as profit!
Fortunately, finding the right fantasy sports merchant account providers does not have to be difficult when you apply through Leap Payments for your merchant account. We are the “High-Risk” industry experts and can help you get approved for your account.
We have developed relationships with different underwriters that are willing to approve high risk applications. In addition, we work with each of our clients to help provide them the lowest rates for their high risk merchant accounts. By helping to keep the transaction and processing fees lower, we help them increase their earnings.
We also provide chargeback assistance and protection for fantasy sports operations, as well as other high risk industries. The purpose of the value-added service is to help identify trends, recognize risks, and provide advice on improvements our clients can make to further reduce the risks of chargebacks.
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The Future of Fantasy Sports
Fantasy sports leagues are not going anywhere. In fact, New York and Virginia just legalized daily playing of fantasy sports, which indicates the industry is strengthening and will continue to grow. With this major change, it is anticipated other states are going to follow suit in the near future.
If you have been thinking about becoming a “league commissioner” and starting your own fantasy sports website, you will need to be able to accept debit and credit cards. To learn more about our high risk merchant solutions for the fantasy sports industry or to submit an application, please feel free to contact Leap Payments at 800-993-6300 today!
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