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Complete Story
02/05/2020
How the Onset of 5G Could Become a Winning Bet for Mobile Wagering And Payments
Digital Transactions
One often overlooked market for mobile payments is sports betting, and now some payments providers are wagering that the segment is about to get hot with the ongoing rollout of 5G mobile-network connectivity. “We would urge sports-betting operators to be ready for the increased traffic on their platforms. It’s a huge opportunity for them,” says Daniel Kornitzer, chief business development officer at payments processor Paysafe Group, in a statement.
The arrival of the new mobile technology, which is faster than 4G and boasts higher data capacity, comes just months after a key U.S. Supreme Court ruling in 2018 that swept away federal restrictions and left legalizing sports betting up to the states. Now, processors see a potential bonanza in mobile betting. Already, mobile apps are the preferred venue for 37% of all bettors in the United States, the United Kingdom, and Germany, according to research released Tuesday by Paysafe, well ahead of in-person channels, at 26%.
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