Online sports betting is becoming more popular among South Africans, because to increased smartphone penetration and the Covid protocols, which allow for safer and more secure transactions. It is essential for legitimate online betting to ensure safe, timely payments, and the speed and ease of immediate EFT are helping it to gain traction as a valued payment option in the business – particularly for those players seeking an alternative to the standard card payment options.
South Africa’s GGR (Gross Gaming Revenue) is expected to grow at a compound annual growth rate (CAGR) of 8.1 percent from 2017 to 2021, reaching an estimated R7.5 billion in 2021, according to the PwC Gambling Outlook Report for 2017-2021. (up from R5.1 billion in 2016). This is expected to be greater as a result of the lockdowns that have occurred over the previous two years, which have forced more sports bettors online.
The present economic climate has seen a significant increase in the number of persons transacting online as people feel more comfortable with working from home.” The similar pattern is being seen in online sports betting, and we have observed that our consumers are taking advantage of the ability to wager from any location at any time. In addition to the innovations in gaming technology that have contributed to the creation of a credible atmosphere, the breakthroughs in payment gateway technologies as well as online safety upgrades have also assisted consumers in feeling more secure while dealing online. This has greatly increased the number of people who participate in online sports betting.”
This is explained in detail by William Reyneke, Director of Online Gaming at Gbets, a branch of Goldrush Gaming Group.
As part of their ongoing effort to provide its customers with a diverse range of payment alternatives, Gbets has just added SiD Secure EFT as an extra payment option. The findings revealed that the quick and secure option was a welcome addition.
“Immediacy is the driving force behind our business. Our consumers are searching for payment solutions that are quick, dependable, and secure. Instant EFT has unquestionably shown to be a simple and dependable method of payment in this respect. The introduction of SiD Secure EFT has provided us with a superb quick payment channel that our clients have eagerly embraced, with many of them making the transition from various alternative payment methods,” explains Reyneke.
The instant EFT payment alternatives offered by DPO South Africa, South Africa’s biggest payment service provider, are ideal for the sports betting sector, according to Peter Harvey, MD of DPO South Africa’s largest payment service provider.
It is quite comparable to the travel business in that both are very concerned with payment security, instant user verification, and timeliness of service delivery.” With SiD Secure EFT, money are straightforward to reconcile for the organization, and this eliminates the possibility for significant delays that might occur when reference numbers are entered in erroneously when utilizing standard EFT methods. This decreases the operational risk for the sports betting organization while also providing gamers with the option of using a transactional account rather of a credit account. “The reaction we have received from Gbets is reflective of the level of interest we have received from all of our online betting merchants,” says the company.
– Harvey explains more.
Harvey claims that, as a result of the high level of interest, the SiD Secure EFT user base has seen considerable growth over the last year, with new merchant sign-ups growing by 128 percent in the first half of 2021 compared to the same time the previous year. In addition, SiD Secure EFT has invested in a new platform.
“Our new platform is constantly providing quicker speeds, with performance up to 82 percent faster than the previous platform.” The new interface provides a much improved user experience, minimizing cart abandonment and giving an overall checkout experience that is intended to improve the customer experience. Customers of all of South Africa’s main processing banks may now take use of the SiD Secure EFT service, in addition to the technological upgrades that have been implemented. Merchants, such as Gbets, who are attempting to make non-credit-based online payments available to all South Africans, would benefit from the improved performance and wider footprint.”
– Harvey comes to a close.
DPO South Africa’s mission and vision
A payment services provider (PSP), the Pan-African DPO Group provides companies of all sizes with rapid access to easy, efficient, and secure online payment services. PayGate and SiD Secure EFT are both subsidiaries of the Pan-African DPO Group.
Businesses may take all major payment methods and currencies both online and offline throughout the continent by integrating a single payment gateway solution. As a Network International company, DPO Group is a prominent facilitator of digital commerce in the Middle East and Africa, working with over 60,000 active merchants across a range of industries such as airlines, hotels, restaurants, travel agencies, and eCommerce businesses around the continent.