Payments Key in Customer Acquisition and Retention for Global Sportsbooks
The importance of payments in the customer experience of online sports bettors has been revealed in the 2024 All the Ways Players Pay research conducted by Paysafe. The report, released recently, surveyed 3,000 sports bettors in several countries and found that players prioritize rapid payouts and payment options when choosing a sportsbook. Streamlined payouts were ranked highest by bettors, even above brand trust, odds, promotions, and user experience. Availability of favorite payment methods and seamless deposits were also important factors for players.
Payments are equally crucial in player retention, with 78% of bettors considering the payment experience important in why they stay with a brand. The preference for payment methods has also seen diversification, with digital wallets challenging debit cards as the top choice globally. Digital wallets are particularly popular in Italy and Germany. Credit cards remain popular, despite being banned in some markets. Interest in eCash and local payment methods is also notable.
Players’ confidence in payment security at sportsbooks has improved overall, but there is room for improvement. Additionally, there is growing adoption of digital wallets, eCash, and other alternative payment methods. Cryptocurrency payments are also of interest to players, especially in the United States, particularly in New York.
Paysafe emphasizes the value of optimizing payment offerings for online sportsbook operators to gain a competitive advantage in customer acquisition and retention. By providing a variety of payment choices to meet evolving expectations, operators can maximize player loyalty.
Paysafe will be participating in the ICE London 2024 conference from February 6 to 8, 2024.
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