You need a way to accept credit card payments from players around the world, all in real-time. Instabill’s gambling merchant accounts offer you a level of service that will help your business succeed and increase profits. Instabill got its start processing credit cards for online gambling in 2001–we know online gambling.
It is an exciting time for the industry of online gambling, not long ago only available in certain worldwide markets: Caribbean, the UK and Europe and Asia. But with a select few of U.S. states moving to legalize (Nevada, Delaware and New Jersey), one can’t help but feel the cold war on online gambling in the U.S. is thawing.
To find out more about Instabill’s merchant services, speak with a live representative directly at 1-800-318-2713, click the ‘sign up’ button above. To learn more about our gambling merchant accounts, click to expand each section.
To find out more about Instabill’s merchant services for online gambling merchant accounts, speak with a live representative directly at 1-800-318-2713 or simply click the ‘sign up’ button above.
Approval timetable for an online gambling merchant account
Approval times for online gambling merchant accounts vary with each type of solution Instabill offers:
- Offshore online gambling merchant account with payment processing history: 5 business days to 2 weeks
- Offshore startup online gambling merchant account: 5 business days to 2 weeks
How Do I Get A High Risk Online Gambling Merchant Account?
Whichever you prefer: Call us direct at 1-800-318-2713, Click the ‘sign up now’ box above to get started.
Instabill offers numerous payment processing solutions for online gambling merchants separated into four categories:
Offshore Online Gambling Merchant Accounts (with payment processing history):
- 3-6 months of payment processing statements with company name showing chargebacks, refunds, returns and total sales.
- 3 months of business banking statements
- Approvals:5 business days to 2 weeks
Offshore Startup Online Gambling Merchant Accounts
- 3 months of business banking statements or a business banking letter
- If no business banking statements, 3 months of personal banking statements
- Approvals:5 business days to two weeks
Domestic Online Gambling Merchant Accounts
- Instabill does not have a domestic solution at this time. Though several states have legalized online gambling, it remains against federal law.
Online Gambling Merchant Account Fees
Our online gambling merchant account fees are industry-competitive and affordable, and the application process is free – Instabill does not charge a merchant any fees until they begin processing transactions. Once you have been pre-approved, our underwriting department will match your business with the acquiring banking partner we feel is the best fit for your needs. The bank will then process your application and determine your merchant account fees.
Your fees are contingent on several factors, such as the merchant’s processing history, type of industry (high or low risk) and/or projected sales volume. Each online gambling merchant account is different, but typical fees include:
- Merchant Account Fee
- Transaction Fee
- Discount Rate
- Merchant Account Registration Fee
- Monthly Statement Fee
- Chargeback Fee
- Refund Fee
- Rolling Reserve
Why is online gambling considered high risk?
With the exception of Nevada, New Jersey, Delaware and Pennsylvania, online gambling remains illegal by U.S. federal law. Additionally, most internet gambling sites are based offshore, leaving U.S. banks no options to providing credit card processing solutions.
Other factors contributing to its high risk label include high chargeback rates and the risk of gambling addiction, with which some banks choose not to be associated.
Chargeback prevention for online gambling merchant accounts
Chargebacks can be a problem for an online gaming business. A player at an online blackjack table takes a huge loss, telephones his credit card issuer and denies the charge. It’s a he-said, she-said battle that e-commerce merchants rarely win.
Instabill provides merchants the education they need to prevent, dispute and even reverse chargebacks with its frequent blog posts on chargeback strategy, as well as its satellite website, Instabill.org, which is full of helpful content geared to mitigating chargebacks.