Paysafe to provide payment platform for new Fubo Gaming's Sportsbook

Specialized payments platform Paysafe announced Thursday a new partnership with Fubo Gaming, the Chicago-based subsidiary of TV streaming platform fuboTV.

Expected to launch in Q4 2021. pending regulatory approvals, Fubo Gaming’s mobile sportsbook, Fubo Sportsbook, will plug into Paysafe for credit and debit card payments, the Skrill USA digital wallet and paysafecard and Paysafecash eCash solutions. 

Under the terms of the agreement, Fubo Sportsbook users will be able to fund a deposit via credit card, debit card or ACH bank transfer from a checking or savings account. Bettors will also be able to use Skrill USA to make deposits from their digital wallet account into their Fubo Sportsbook account. Those who prefer cash can choose to deposit using either paysafecard or Paysafecash, with both eCash solutions available at thousands of U.S. retailers. 

Paysafe will additionally facilitate payouts, with bettors able to choose between ACH withdrawals or Skrill USA’s digital wallet, which will allow winnings to be transferred in real-time to players’ bank accounts. They can also use the Skrill Visa Prepaid Card to withdraw winnings as cash from an ATM. 

“Designed as a holistic, hyper-personalized betting experience reflecting what users are watching on fuboTV, Fubo Sportsbooks intends to combine data from both the betting and streaming platforms. LEveraging fuboTV’s first-party user behavior data to understand consumers’ viewing preferences and recommend relevant bets, the company intends to turn passive viewers into active, engaged participants, an official company statement describes. 

In an official press release, Zak Cutler, CEO of the North America iGaming division at Paysafe, spoke about this new partnership and said: “We’re delighted to partner with Fubo Gaming’s forthcoming Fubo Sportsbook. Our comprehensive range of payment solutions, with a strong emphasis on fast and frictionless deposits and payouts, will be key for Fubo Sportsbook’s interactive wagering model, and we look forward to providing strong support to the brand’s launch in Q4 and its future growth.”

Scott Butera, President of Fubo Gaming, added: “We are building our Fubo Sportsbook to deliver a truly integrated and interactive betting experience, where sports fans can be active and engaged participants of the games they are watching and wagering on. To bring that vision to life, we needed a payment partner who was going to provide secure, fast, and easy-to-use solutions for our sportsbook users. Paysafe checks all of those boxes, and we look forward to our continued partnership.”