Michigan bettors and online casino players have a new way to make deposits and withdrawals on their sportsbook accounts, as PayNearMe was granted approval by the Michigan Gaming Control Board (MGCB) to open up shop in the Wolverine State.
Three clients — including William Hill and FanDuel — are already up and running with PayNearMe in Michigan, and the company expects to get all sportsbook operators on board.
“PayNearMe is excited to take our operators live in Michigan. We worked closely with the Michigan Gaming Control Board to ensure our service is compliant with all applicable statutory requirements,” Connor McNulty, senior regulatory counsel for PayNearMe, said in a press release. “PayNearMe now operates and processes payments for licensed online sports betting and iGaming operators in 12 U.S. states, and we’re focused on quickly and efficiently expanding our gaming footprint as new states legalize online sports betting and iGaming.”
The goal of PayNearMe is to remove friction between a player and their money, and the company hopes to one day be the one-stop shop for all sports betting and iGaming providers.
Currently, PayNearMe can be used with Google Pay and Apple Pay, and it will soon be offering access via Venmo and PayPal. Additionally, PayNearMe can be accessed at 7-Eleven, Family Dollar, Casey’s General Stores, and a handful of other retailers where patrons can use cash to fund their sports betting accounts via PayNearMe.
Withdrawals made easy
But the big killer app for PayNearMe is still in the pipeline: It will offer near-instantaneous withdrawals via its “push-to-debit” technology, which will enable users to transfer money from sportsbooks to their debit card accounts in a matter of minutes.
“Players don’t want to wait days for cashouts,” Michael Kaplan, the chief revenue officer and general manager at PayNearMe, said in a previous release. “One of the best ways to improve the iGaming experience is to give players a fast and easy way to withdraw their winnings — that’s exactly what our technology enables operators to do.”