A Paysafe Study: What Do Sports Bettors Really Want?
Fast payouts are ranked as the most important factor for sportsbook users around the world, a new report has found.
Paysafe’s new report has found that sports bettors value fast payments a lot. © Maria_Domnina, Pixabay
Key Facts:
- Study found a positive payment experience is highly valued
- 4300 players in Europe, North America, and LATAM took part in the major new piece of research
- Latin America, a growing region for the industry, is included in the report for the first time
- Paysafe’s annual ‘All the Ways Players Pay’ report finds fast payouts are preferred by sportsbook users
Paysafe’s annual ‘All the Ways Players Pay’ report covers Europe and North America, with the Latin America region also included in the study for the first time.
The payments provider found that more than four-fifths (82%) of global online sports bettors can be encouraged to continue wagering with sportsbooks after a positive payment experience.
Globally, the Paysafe research found that quick and easy payouts are now ranked as the top factor in sportsbook selection.
Just over a third (34%) of respondents put fast payouts as their top priority, slightly higher than brand trust (33%) and promotions (24%).
Payments Crucial for Acquisition And Retention
Paysafe’s research found that quick and reliable payouts are useful for both attracting new users to sign up with a sportsbook, as well as keeping them as customers.
Zak Cutler, the president of global gaming at Paysafe, said: “Our latest ‘All the Ways Players Pay’ research report surveys online sports bettors’ transactional preferences across an unprecedented range of regulated markets in the Americas and Europe.
“Payments are crucial for player acquisition and retention in every single market, but there can be no one-size-fits-all approach. Operators will only maximise conversions and minimise churn if they localise their cashiers and respond to player demand for an exhaustive range of payment options that balance transactional speed with security.”
The ‘All the Ways Players Pay’ research report series started in 2019 and the latest study from Paysafe polled 4,300 people across North America, the LATAM region and European countries such as the UK, Romania, France, Spain and Italy.
Instant Payouts Valued
Customers are increasingly expecting online sports betting sites to be able to process withdrawals very quickly, the report said.
Paysafe’s research found that more than two-fifths (42%) of global players now expect to be able to cash out instantly.
Real-time payments are becoming more common across the industry, and almost three-quarters (73%) expect this to become the norm for internet-based sportsbooks within two years.
Fast deposits are considered critical to the payment experience of 34% of the respondents to the research, while transaction security was prioritised by 41% of global bettors in the study.
Rapid deposits were also cited by a quarter of those who took part in the Paysafe poll to be one of the most important parts of the payment experience overall.
