PayNearMe, the iGaming fintech company, has recently obtained approval from the Kansas Racing and Gaming Commission (KRGC) to provide its cutting-edge MoneyLine platform to licensed operators within the state. This timely announcement coincided with Kansas’ soft launch of accepting wagers in-person and through mobile platforms. Five sports betting operators are set to go live with MoneyLine, eagerly anticipating the full launch for the NFL season kickoff on September 8. As the state prepares for a potential $1.78 billion handle in its first year of regulated sports betting, PayNearMe is determined to offer an unparalleled player experience with seamless deposit and withdrawal processes.
Kansas iGaming Market’s Potential:
BetKansas, an esteemed authority in the sports betting industry, has projected the potential handle for Kansas’ first year of regulated sports betting. Estimates suggest that the state could reach a staggering $1.78 billion handle in the initial 12 months. By comparing Kansas to Arizona, known for its open wagering markets and deep-rooted connections to NFL and MLB teams, it is predicted that the state’s sportsbooks may rake in $150 million per month in the first year of operations. These ambitious numbers put Kansas on track to surpass Louisiana, which reported an average monthly handle of $142.5 million between November 2021 and June 2022.
Seamless Launch with MoneyLine:
With the KRGC’s approval, PayNearMe’s MoneyLine platform has emerged as the favored choice for five sports betting operators in Kansas. The strategic timing of the platform’s rollout aligns perfectly with the commencement of online wagering opportunities for Kansas residents. PayNearMe’s Chief Revenue Officer, Michael Kaplan, expressed enthusiasm for the launch, highlighting that clients will be able to offer legal wagers on popular sports teams like the Jayhawks and Chiefs, creating an exciting betting environment for avid fans.
Enhancing the Player Experience:
As the anticipated launch approaches, PayNearMe has been diligently working behind the scenes to ensure operators are well-prepared to provide the industry’s best player experience. By focusing on seamless deposit and withdrawal processes, PayNearMe aims to cater to the millions of dollars projected to be wagered online in Kansas over the next year. By offering a user-friendly and efficient platform, PayNearMe aims to elevate the betting experience for both new and seasoned bettors, fostering a loyal and engaged player base.
Kansas: The Promising iGaming Market:
Kansas’ emergence as a promising iGaming market stems from its resemblance to Arizona, which has already established successful open wagering markets and boasts strong ties to major league sports teams. The similarities between the two states’ betting ecosystems have given experts the confidence to project impressive handle numbers for Kansas. The potential $1.78 billion handle in the first year demonstrates the high demand for legal sports betting in the state, signifying an exciting opportunity for both operators and bettors alike.
As PayNearMe gears up to provide its MoneyLine platform to licensed operators in Kansas, the stage is set for a flourishing iGaming market. With a favorable regulatory environment and a projected handle of $1.78 billion in the first year, Kansas is well-positioned to become a prominent player in the sports betting industry. PayNearMe’s dedication to delivering a seamless player experience further solidifies their commitment to excellence in the iGaming fintech space. As the NFL season kickoff approaches, all eyes are on Kansas to witness the exciting evolution of its sports betting landscape.