In order for any brand to operate in a certain territory, it is necessary to obtain certain approvals from competent authorities. PayNearMe, a payments company, announced that the New York Gaming Commission has given the green light to launch its MoneyLine platform in New York. Namely, this company will provide its MoneyLine platform to licensed operators.
Legalization of Sports Betting in NY Brings Great Changes
Three clients, who are already cooperating with this brand, stepped into New York after sports betting was legalized in this state. This type of entertainment saw great success during the previous weekend in Empire State.
Approval to expand to New York State, PayNearMe got a finger up back in December 2021. With this approval, its iGaming and online sports betting presence, the company has expanded to the 18th state.
Michael Kaplan, Chief Revenue Officer and General Manager at PayNearMe, about three approved clients said that they are “some of the industry’s largest operators.”
Kaplan added: “They have been accepting cash deposits at retail locations with PayNearMe for years and can now accept players’ cash deposits for mobile sports betting in New York,” Kaplan said in a statement. “We are actively working to launch additional operators upon approval and are thrilled to be paving the way in iGaming with our MoneyLine platform. Enabling our clients to go live on the same day online gambling was legalized in the state of New York ensures they will be able to seamlessly manage the billions of dollars projected to be wagered online in New York over the next year. Ahead of the Super Bowl, millions of fans are watching and wagering on NFL and college playoffs. PayNearMe operators will be able to offer cash as a convenient and guaranteed deposit method.”
PayNearMe Processes Cash Deposits Across the U.S.
The PayNearMe brand has been present on the iGaming market since 2013. The company is currently present in 18 regulated markets throughout the United States. It collaborates with the 16 largest and most prominent casinos in the US. The list of partners includes well-known operators such as BetMGM, TVG, PointsBet, FanDuel, and Caesars Sportsbook.
Speaking of news from New York, we must mention that Google recently changed its policy regarding gambling and games and thus allowed sports betting ads in this state after sports betting was legalized.
Source:
“PayNearMe approved to process sports betting payments in NY’’, Gaming America, January 11, 2022.
The post The New York Gaming Commission Approves the Launch of the MoneyLine Platform in New York first appeared on RealMoneyAction.com.