Paysafe Will Support iGaming Operators for Payments in Ontario

Paysafe, a banking method used at various online gaming platforms, announced Monday that it is live and “supporting private iGaming operators with payments” in Ontario, which launched online casinos and online sports betting for private operators today.

Paysafe’s Services Not New to Canada

Before offering payment solutions for the private operators, Paysafe has built “longstanding payments partnerships” with Canadian provincial government-operated lotteries over the past 20+ years, including the Ontario Lottery and Gaming Corporation’s online gaming brand since its 2015 launch.

For players, Paysafe can be used in many ways, including purchasing a Paysafe card that does not require any banking information, or even going to a store, handing over cash, and receiving a voucher with a 16-digit PIN to use for purchases online.

Ontario Betting Market Could be Huge

Ontario is Canada’s most populous province with more than 14.6 million residents and has strengthened its presence there by “extending multi-state U.S. payment partnerships with a range of operators into the Ontarian market”.

According to Vixio, this market should generate $1.86 billion by 2026, and the partnerships Paysafe has secured include PointsBet Canada and theScore Bet Canada.

These companies will allow Ontarian players to make deposits by debit and credit card using Paysafe’s payment gateway by connecting with Paysafe. Paysafe will also facilitate players using alternative methods such as an eCash voucher.

Paysafe will announce more Ontario iGaming payment products and operator partnerships in the coming weeks.

“Today’s launch of the new, expanded Ontarian iGaming market marks a milestone for the North American industry and our global company, which has its origins in Canada,” Zak Cutler, CEO of North America iGaming at Paysafe, said in a news release.

“Ontario will likely rival the largest U.S. state iGaming jurisdictions when it reaches maturity, and we look forward to facilitating payments for operators and their Ontarian customers to help the market grow to its full potential.”