What To Look For In A Credit Card Processor For Your Online Poker Business?

If you run an online poker business, good luck trying to find a reliable and affordable credit card processor. Given that yours has been deemed a high-risk business, banks and other traditional processors are just not that excited about working with you.

So what should you do?

Well, you should find a credit card processor that specializes in working with high-risk merchants and can help you get your application approved quickly and easily. You want to get right from the first try, so you don’t have to go through the process over and over again.

Processing credit card payments is a serious business, and you don’t want just anybody to handle your online poker merchant account.

When you are looking for high-risk merchant account services, don’t just settle for the cheapest provider. Sure, lower fees and favorable payment terms are important but ensure that you give more attention to professionals with years of experience under their belts.

Having survived in an industry as competitive and dynamic as payment processing for years indicates that the provider offers reliable account setup services and customer support. You can trust an experienced provider to handle the entire application process with ease and get your account live in as little time as possible.

As a merchant in the online gaming industry, you may also need multiple solutions for your high-risk merchant processing. Therefore, work with a credit card processor who can arrange for you to have more than one merchant account with different international processors and offshore banks worldwide.

If you are an online poker merchant, get in touch with Liberty Enterprises today and let their professionals find the credit card processing solutions best suited for your high-risk business. With over ten years of experience in the payment processing industry, they have an extensive network of banks, processors, and direct relationships to meet any merchant’s needs. 

The Shift in Sports Betting and What It Means for Online Sports Betting Merchants

 The online gaming market, including the online gambling and sports betting industries, has exploded in recent years and is expected to rise to $2.2 trillion by 2021! That being said, integrating credit card processing on your sports betting website can be complicated.

As an online sports betting merchant, you will have a hard time finding a bank or payment processor who will support your business. Due to the industry's background and reputation, high chargeback ratio, and the complexities of the federal and state laws and regulations regarding the industry, sports betting businesses are labeled as high risk. As such, you need to have a specialized online sportsbook merchant account to process and accept payments.

There is good news: Despite the challenges that drive banks and other payment processors away from dealing with online sports betting merchants, the outlook is looking better. With significant help from the recent Supreme Court ruling on the "Murphy v. National Collegiate Athletic Association, No. 16-476, 584 U.S. ___ (2018)" case, the entry barriers for sports betting are being lowered.

Online sport betting merchants should bear in mind that, even with this ruling, they are still in a unique position compared to other low-risk merchants. Banks and other payment processors will likely continue to consider sports betting businesses "high-risk." This means that setting up a high-risk merchant account would cost much more than their low-risk counterparts.

The online gambling and sports betting industry has a huge growth potential, which may broaden offerings among payment processors in the future. But that is still too early to assume, which is why sports betting merchants should opt for a payment processor specializing in high-risk merchant processing.

So, if you want to get the most out of your online sports betting business, take the extra time to find a reliable payment processor who will work with you to identify and address your business needs.

What an Offshore Company Is Really All About?

 The offshore services industry is heavily tainted by negative press portraying it as a mechanism for millionaires and billionaires to cheat on their taxes. The truth, however, is that an offshore company can be established for legitimate business reasons.

What is an offshore company?

Setting up an offshore company means incorporating a business in a country other than the one you currently reside. It does not have to be a tax haven. For example, if you lived in Germany, you could form a company in the United States, which would be an offshore company to you.

The mainstream media seems to have a field day with the offshore services industry (in particular, with tax havens) and only reports on them when a major tax crime is uncovered. Because these tax havens uphold anonymity, they have no recourse to going on the offensive in the media because calling attention to themselves and their clients is pretty much the exact opposite of their objective.

Why form an offshore company?

Several advantages can be realized when you set up an offshore company. The greater percentage of people drawn to offshore company formation are seeking greater privacy in their financial dealings, increased layering for asset protection purposes, and reduced tax burdens on capital gains.

Forming an offshore company DOES NOT preclude you from paying your fair share of income taxes in your home jurisdiction. The advantage of creating an offshore business is that once you have paid taxes in your home country and moved this money to an offshore bank account, your money can grow tax-free. In general, tax havens will not charge a tax on capital gains or tax foreign-derived income.

If you want to take your business offshore to enjoy complete confidentiality in your corporate affairs, get in touch with Liberty Enterprises today.