The popularity and success of sports betting exploded in 2021. According to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, sports betting reached a record-breaking $4.29 billion in revenue last year. Recent events show that 2022 will be another big year for sports betting. Unfortunately, exact numbers are not available yet. Still, a study conducted by the AGA ahead of Super Bowl LVI showed that Americans planned on betting a combined $7.61 billion on the big game.
This overwhelming success also represents an opportunity for gaming institutions. Online and brick-and-mortar casinos seek solutions to deliver a seamless sports betting experience and tap into this massive potential. As an industry leader, Pavilion Payments is helping our partners provide patrons with an interactive sports betting experience.
Pavilion Payments’ iGaming solutions allow casinos to leverage ACH-guaranteed services, enabling patrons to electronically fund their bets and get real-time access to their winnings using their “on file” checking accounts. Pavilion Payments’ VIP Lightspeed® powers funding and withdrawals for online sports betting, while VIP Preferred® e-check network allows patrons to access funds from their checking account effortlessly.
VIP Preferred leverages a multi-channel approach to connect online and brick-and-mortar experiences powered by our VIP LightSpeed® platform. Blending physical and digital properties drives higher patron satisfaction and puts more dollars in play with lower risk. By harnessing the flexibility and ease of Pavilion Payments’ industry-leading VIP Preferred account network, patrons can directly transfer funds from their VIP Preferred balance to their favorite game with a touch of the screen. After a one-time enrollment, patrons can access more than 400 online and land-based gaming institutions.
Between the expansion of legal gaming across the U.S. and the proliferation of sports betting advertisements, sports betting is poised to take commercial gaming by storm. To meet the growing demand, online and in-person gaming institutions are looking for sports betting solutions that make it easy to load funds, make bets and cash out at the end of the gaming session. Pavilion Payments offers products that allow casinos to make the most of the current sports betting craze.
Click here to learn how Pavilion Payments can help casinos capitalize on sports betting’s popularity nationwide.