PayNearMe to launch MoneyLine platform in Kansas
The firm has received approval from the Kansas Racing and Gaming Commission (KRGC) to provide its payment platform to licensed operators in the state.
US.- Igaming fintech company PayNearMe has announced that it has received approval from the Kansas Racing and Gaming Commission (KRGC) to provide its MoneyLine platform to licensed operators in the state. The company’s announcement was made on the same day that the state started accepting wagers in person and on mobile platforms in a soft launch.
In conjunction with the state Gaming Commission, the KRGC has given several operators licences to launch in Kansas. Five sports betting operators are going live with MoneyLine, with sports betting to fully launch for the NFL season kickoff on September 8.
PayNearMe chief revenue officer Michael Kaplan said: “These clients are going live just as the 2022 football season gets rolling, enabling fans to place legal wagers on the Jayhawks, Chiefs or any of their favorite sports teams.”
“Enabling our clients to go live on the same day Kansas residents can place online wagers ensures they will be able to seamlessly manage the millions of dollars projected to be wagered online in Kansas over the next year.
“Fans are ready to watch and wager on NFL and college football, and we’ve been working hard behind the scenes to ensure our operators are ready to give them the industry’s best player experience around deposits and withdrawals.”
Kansas could see a $1.78bn handle in the first year of sports betting
BetKansas has published predictions on the sports betting handle that Kansas can expect in its first year of regulated sports betting. It estimates that the state will see a $1.78bn handle in the first 12 months.
Comparing Kansas with the state of Arizona due to similar open wagering markets and longstanding ties to NFL and MLB teams, it’s estimated that the state’s sportsbooks will take in $150m per month in the first year of operations. According to the predictions, Kansas will overtake Louisana, which reported an average $142.5m monthly handle between November 2021 and June 2022.
