Payments company PayNearMe has been approved by the New York State Gaming Commission (NYSGC) to provide its MoneyLine platform to licensed operators across the state of New York.
The NYSGC confirmed that the first four out of nine licensed operators – Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive – were approved to begin processing mobile sports betting in the state from January 8.
In conjunction with these operators being given the green light to launch in the state, three operators expanded into the Empire State with MoneyLine as well.
Chief Revenue Officer and General Manager Michael Kaplan commented: “These clients are some of the industry’s largest operators. They have been accepting cash deposits at retail locations with PayNearMe for years and can now accept players’ cash deposits for mobile sports betting in New York.
“We are actively working to launch additional operators upon approval and are thrilled to be paving the way in igaming with our MoneyLine platform.”
After receiving approval to expand into New York, PayNearMe’s igaming and online sports betting footprint is now present in 18 states.
Kaplan added: “Enabling our clients to go live on the same day online gambling was legalized in the state of New York ensures they will be able to seamlessly manage the billions of dollars projected to be wagered online in New York over the next year.
“Ahead of the Super Bowl, millions of fans are watching and wagering on NFL and college playoffs. PayNearMe operators will be able to offer cash as a convenient and guaranteed deposit method.”
Senior Regulatory Counsel Connor McNulty stated: “We have deep expertise in the industry and have worked closely with the New York Gaming Commission to ensure our service is compliant with all applicable statutory requirements. PayNearMe is focused on quickly and efficiently gaining approval as new states legalize online sports betting and igaming.”