Parimutuel Betting is a specific system for betting in which the bets are differently distributed than fixed-odds betting. It’s a system where all bets that have a specific type are put together in a pool. The payoff odds get calculated by a process in which the pool is shared among all winning bets. It’s most commonly used in horse racing, greyhound racing, and similar sports events which don’t last for a very long time. These events are relatively short, and the participants of the sports finish in a ranking order.
As with all gambling and betting games, pari-mutuel betting is considered high-risk, mostly due to the potential for chargebacks. Also, it’s worth mentioning that sometimes money laundering occurs which means that that’s another reason why this is considered high-risk. Banks don’t want to be involved with these types of businesses because they could end up on the wrong side of the law, as well as on a losing side with money. It’s important to know the good and the bad sides of pari-mutuel betting and understand what it means to offer this type of service to customers. Of course, we are here to offer you our solutions for high-risk merchant accounts and credit card processing because, in our eyes, each merchant has a chance to succeed in the world no matter what business and services he offers!
Security is crucial and should be considered as the most important part of a merchant’s website. You will need to make sure that each customer’s details are safe and secure. You will also need to make sure your website is free from harm, and it’s safe so that people don’t hack into it. A big problem with gambling websites is that, if left unsecured, hackers can easily jump into the website and transfer money from customer’s accounts and your website. Another important part of maintaining a gambling site is having complete control over it and making sure that it works 100% of the time. Failure to do so will cause frustration, and you will notice the number of customers will go down. We have security experts on our team, and you can be sure that, with us, you won’t run into any trouble!
Pari-mutuel betting has been around for a very long time. As with other ways to gamble and games that are based on luck, it too has become digitalized. It gives customers easy access and nowadays it’s a much faster and easier way to gamble. Merchant websites based on this type of business pop up now and then but not a lot of them can survive. You need to be serious about your ideas and give it all you’ve got if you want to succeed. Luckily, companies like ours are there to help merchants achieve their goals! Choose us and you’ll have no headaches over the management of your website and payments. We’ll take care of anything, and you’ll receive constant reports on how your high-risk merchant account is doing.