With increased smartphone coverage and the Covid protocols, online sports betting is taking momentum in South Africa. Immediacy and simplicity of immediate EFT are contributing to it being a desirable payment option in the sector – particularly for those gamers searching for an alternative to standard card offers.
The PwC Gambling Outlook Report for 2017-2021 predicts that betting GGR (gross gaming revenue) would grow at an 8% CAGR to R7.5 billion in 2021. (up from R5.1 billion in 2016). Due of the recent lockdowns, more sports bettors are expected to be online.
“In the present epidemic climate, individuals are more comfortable working remotely and transacting online. The same is true for online sports betting, where we see our consumers taking advantage of the flexibility. Concurrently, innovations in payment gateway technology and online safety have made consumers feel more comfortable purchasing online. This has increased involvement in online sports betting.”
— William Reyneke, Director Online Gaming at Gbets, a Goldrush Gaming Group branch.
Gbets just added SiD Secure EFT as a new payment option for its customers. Fast, secure option was a great bonus.
“Our industry thrives on speed. Our clients want quick, trustworthy, and secure payment options. Instant EFT has shown to be both handy and reliable in this respect. We have discovered a terrific quick payment channel with SiD Secure EFT that our clients love, with many switching from other payment methods,” adds Reyneke.
Instant EFT payment alternatives are ideal for the sports betting business, according to Peter Harvey, MD of DPO South Africa.
“Like the travel business, this sector is sensitive to payment security, rapid user verification, and speed. Incorrectly entered reference numbers might cause considerable delays when using conventional EFT. This reduces operational risk for the sports betting operator and allows gamers to utilize a transactional account rather than credit. Gbets’ reaction reflects the enthusiasm shown by all of our online betting merchants,”
Harvey said the SiD Secure EFT customer base has grown significantly over the past year, with new merchant sign-ups up 128 percent in the first half of 2021 compared to the same time last year. It has also bought a new platform.
“Our new platform routinely performs 82 percent quicker than previously. The redesigned interface improves user experience, reduces cart abandonment, and improves overall checkout experience. The SiD Secure EFT solution is now accessible to all major South African processing banks’ clients. As a result, businesses like Gbets will be able to provide non-credit based online payments to all South Africans.
– Harvey ends.
PayGate and SiD Secure EFT are subsidiaries of the Pan-African DPO Group, a PSP that provides easy, efficient, and secure online payment services to companies of all sizes.
Businesses may accept all major payment methods and currencies online and offline with a single connection. DPO Group, now part of Network International, is a prominent facilitator of digital commerce throughout the Middle East and Africa, works with 60,000+ active merchants, including airlines, hotels, restaurants, travel agencies, and eCommerce all across Africa.