EML Payments Partners With Bet365 To Launch Branded Sports Betting Card In New Jersey

• Bet365 is the largest online sportsbook in the world.
• EML is an international payment processor that offers a custom-branded reloadable sports betting card platform.
• Bet365 will offer online wagering and a land-based sportsbook at the Hard Rock Atlantic City.

NEWARK, N.J. – With bet365 bringing sports betting to the New Jersey’s Hard Rock Hotel & Casino Atlantic City this summer, there is a lot of excitement going around. Bet365, after all, is the largest online sports betting operator in the world.

In order to facilitate smooth financial transactions once installed at the Hard Rock and over the Internet, bet365 has partnered with EML Payments USA, LLC, to launch a branded reloadable card program.

While sports wagering account funding is not a particularly difficult task in New Jersey (there are dozens of options for most players), the value with this particular partnership is easy to see: bet365 will have the New Jersey’s first branded deposit and withdrawal system tied specifically to sports wagering.

EML, for its part, already operates a dozen such branded betting cards across the UK, Europe, and Australia, though the company does not pretend to know exactly how long it will take for their New Jersey expansion to become competitive with their existing standards.

In a Tuesday press release announcing the bet365 partnership, EML deferred on assigning an expected revenue amount to its early operations in the Garden State.

“EML is unable to accurately estimate future Gross Debit Volume (‘GDV’) that will be derived from this program, nor the pace at which this market will develop… We expect that the GDV to revenue conversion rate will be materially in line with our average for the General Purpose Reloadable segment with the first material earnings contributions delivered in the H2 of FY20 year.”

Though EML is hedging its bets a bit in this conservative public statement, the company obviously expects to turn a profit within a year’s time, provided that bet365 becomes one of New Jersey’s bigger books (as most industry analysts expect).

A further detail of the partnership: If bet365 expands its business footprint into other states, the multiyear contract with EML has language to extend their relationship into those new markets.

News tags: bet365 | EML Payments USA | New Jersey | New Jersey sports betting