Are you in need of a merchant account services for your gambling advice and betting tips business? You’ve come to the right place!
These days many people engage in sports gambling and betting for recreational excitement. The smart gamblers do their research and study odds to minimize losses.
The smartest gamblers seek the assistance of businesses that provide professional gambling tips and betting advice services.
These businesses can offer their services to customers anywhere in the world, as long as they have a reliable payment processing solution in place to collect payments from customers.
At The Transaction Group (TTG) we can help. We offer domestic merchant account services for gambling tips and betting advice businesses like yours.
High Risk Credit Card Processing
If you’ve already spoken to a credit card processing provider you may already be aware of the challenges facing your business.
Even though your business provides a valuable service to betters and gamblers and has little to do with gambling itself, it is classified as high risk just like gambling sites and institutions.
It’s hard enough for a high risk industry business to get approved for a ‘card present’ or customer facing domestic merchant account solution. An approval for a ‘card not present’ solution, as is the case with online sales, can be nearly impossible.
What’s the reason for this? Mainly, the risk averse nature of most merchant services companies.
Businesses like yours that sell non-tangible goods or services online historically face higher chargebacks by customers that feel they didn’t receive what they paid for.
Unfortunately it’s very difficult for any of these businesses to defend themselves against customers that feel that way or that may be playing the system. Banks almost always side with the customer.
While it may seem that chargebacks only negatively affect the merchant, the fact is that they also negatively affect the merchant account services provider. Providers can be monetarily penalized by the credit card brands for having merchants with chargeback ratios as low as 2%.
With this risk thrown into the mix, it’s easy to understand why merchant services providers avoid high risk businesses altogether.
The Transaction Group for Your Business
TTG has been assisting businesses around the globe with payment processing needs since 2004. And when it comes to high risk, we are the experts.
There are some offshore providers that willingly offer merchant account services to gambling advice and betting tips businesses. However these offshore solutions are very risky for merchants.
Aside from the high rates and withholding of up to 25% in reserves for 6 months or longer, some of these offshore providers have been known to shut down accounts without notice and hold a merchant’s funds indefinitely.
Before you contact any other providers in your search for a credit card processing solution, you’ll want to talk with us first.
At TTG, we will save you time and frustration by delivering you the best payment processing solution for your business’s needs.
Through our many banking relationships, we offer multiple domestic payment processing solutions. We work to have every merchant approved for credit card processing services in as little time as possible.
If you’re ready to get set up with a merchant account for your gambling advice and betting tips business, call us today at 888-383-8056. We look forward to working with you.