Operating in a high risk industry like gaming and online gambling doesn’t mean businesses won’t be able to secure a merchant account. There are several specialist high risk providers and we work closely with these when working through client payment process options.Online gambling and gaming are considered high risk because of the highly regulated nature of online gambling, and the potential for high ticket high volume chargebacks and thus the merchants must be aware about online gaming merchant account costs.. With respect to regulations, gambling and gaming companies have to comply with complex national and regional laws that govern how they can operate. An online gambling site that can be accessed by customers throughout the world must deal with multiple sets of those laws.
Because of this complexity, most sponsor banks and processors do not accept or board online gambling companies. In addition to the legal and regulatory concerns, the reason many credit card processors and sponsor banks do not accept online gambling companies is the potential for high numbers of high-velocity chargebacks. Given that many online casinos regularly process large tickets, and often move significant volume, if a rogue online casino decided to engage in fraudulent activity and a significant number of their customers initiated a chargeback, the processing bank would potentially face large liabilities and thus there is a list of online gaming merchant account requirements which the merchant has to fulfill.