Fantasy Sports Merchant Accounts: Fast Payment Processing Solutions
High-Quality Offshore Credit Card Processing Services with Instabill
What better way to make the sports you love more thrilling than to craft your own team and compete with friends?
With Instabill’s fantasy sports merchant accounts, fantasy league ‘commissioners’ can easily launch their own fantasy website where users can pay to create and join leagues. It only takes a free application to get started.
Get Started Today
For credit card processing solutions for your fantasy sports website, Instabill offers a fast merchant account application process and an expert team of account managers to get you approved quickly. Simply click the button above to apply. If you have additional questions regarding our fantasy sports merchant accounts, feel free to contact a live representative directly by using the live chat feature below or by calling 1-800-318-2713 today.
Our fantasy sports merchant account solution
Finding payment processing solutions for fantasy sports merchants can be difficult. In fact, Instabill can only offer solutions for fantasy sports merchants outside the U.S., due to each state having different laws regarding such.
Instabill utilizes an aggregate solution with a shared descriptor from one of our international banking partners. Our acquiring bank recommends merchants have at least six months of processing history and can process $100,000 per month.
How do I get a fantasy sports merchant account?
Our merchant account managers are available directly by live chat (below) or by calling 1-800-318-2713, or click the button to get started.
Instabill offers numerous merchant account solutions for fantasy sports merchants:
Offshore Fantasy Sports Merchant Accounts (with payment processing history):
- Six months of payment processing statements with company name displaying total sales, chargebacks, refunds and returns.
- Six months’ worth business banking statements
- Approvals: 5 business days to two weeks
Offshore Startup Fantasy Sports Merchant Accounts
- Six months of business banking statements or a business bank letter
- If no business banking statements, please provide six months of personal banking statements
- Approvals: 5 business days to 2 weeks
Domestic Fantasy Merchant Account Solutions
- Currently, Instabill does not have a domestic banking solution for fantasy sports merchants. Although it has been legalized in two U.S. states, different states have different laws regarding fantasy sports. As a result, Instabill refrains from offering solutions at this time.
Fantasy sports merchant account approval timetable
The time it takes for fantasy sports merchant account approvals varies with the different solutions Instabill can offer, but here is an estimate:
- Offshore fantasy sports merchant account with payment processing history: 7 business days to 2 weeks
- Offshore startup fantasy sports merchant accounts: 7 business days to 2 weeks
Fantasy sports merchant account fees
The fees Instabill and it’s acquiring banks charge depends on several factors, such as the merchant’s processing history, projected sales volume and/or type of industry (high or low risk). Each merchant account is unique, but typical fees include, but are not limited to:
- Merchant Account Fee
- Transaction Fee
- Discount Rate
- Merchant Account Registration Fee
- Monthly Statement Fee
- Chargeback Fee
- Refund Fee
Why is fantasy sports considered a high risk industry?
Should fantasy sports be considered gambling or skill? This seems to be the age-old question, but acquiring banks believe it is more gambling than skill, since there is money being wagered. We agree, but we also don’t discount the fact that fantasy sports involves a level of skill.
We side with the acquiring banks, that it is a form of gambling. And gambling, online or in a physical casino, is considered a high risk industry.
The legal future of fantasy sports in the U.S.
While U.S. banks tend to view fantasy sports as a form of gambling, credit card processing solutions are hard to come by. However, with two states recently legalizing the playing of daily fantasy sports (New York, Virginia), there are many more expected to follow. Although considered a high risk industry, banks will come to meet the demand in due course.
Need online gambling merchant account solutions?
Instabill got its start in 2001 providing merchant accounts for online gambling and online dating websites.
View our Online Gambling Merchant Accounts page to find out about our many solutions and fast merchant account approvals.
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