Emerging Payment Trends in UK Sports Betting: An Interview with Bojoko's Expert Teemu Mattila

Since the UK Gambling Commission banned credit card transactions for gambling in April 2020, the industry has witnessed a significant shift towards alternative payment methods. E-wallets and other digital payment solutions have risen in prominence, offering operators and customers alike a more secure, convenient, and efficient way to manage transactions.

To explore these trends further, we reached out to Teemu Mattila, a seasoned sports betting expert at Bojoko. Mattila brings extensive knowledge of the online gambling sector, particularly emphasising market dynamics, technological innovations, and regulatory changes that impact operators. This interview provides a deep dive into the growing role of e-wallets and how to stay on top of the changes in the highly competitive UK market.

From an industry perspective, how has the ban on credit card transactions affected payment strategies for UK sports betting operators?

The credit card ban has been a significant regulatory shift that forced operators to reassess their payment offerings. Before the ban, credit cards were widely used by bettors, but the regulatory landscape has shifted towards prioritising customer protection and responsible gambling.

This change required operators to pivot quickly, ensuring they could offer alternative payment methods that comply with the new regulations and meet their customers’ expectations.

The immediate impact was that Brits started looking for alternatives like e-wallets and other digital payment solutions. Once it was clear this was the future, there was a surge in adaptation of additional payment methods, from Apple Pay to AstroPay. The biggest e-wallets, like PayPal, went from being frequently available to being present on almost every UKGC-licensed betting site.

The ban accelerated the adoption of payment solutions that many operators were already considering, but the urgency of the new regulations made it a top priority.

Beyond the traditional gambling-oriented e-wallets, we’re seeing the rise of newer options like Apple Pay, which you have already mentioned, and Google Pay. How should operators approach these emerging methods?

E-wallets like Apple Pay and Google Pay represent important opportunities for operators to reach more players. Many Brits already use these payment options elsewhere, and it was easy for them to move from credit cards to these options. E-wallets offer similar added security, and the fact that they already have such great brand recognition is a big bonus.

AstroPay is an interesting example here, as we see a discrepancy in use between online betting sites and online casinos. We work as a comparison site in both verticals and while our casino team has reviewed closer to a hundred Apple Pay casinos, the betting vertical currently only has a bit over 30 different Apple Pay betting sites to choose between. We see a similar trend for Google Pay.

There are a few different things at work here, including just how many casinos there generally are in the UK, but the main takeaway is that British sports betting sites are ignoring big payment methods at their own peril.

What are the biggest risks in not implementing payment methods like Apple Pay and Google Pay?

The biggest risk is appealing to a smaller potential player base. British players have so many choices now that if you don’t have their payment option of choice, they’re likely to go elsewhere. This is why affiliates like Bojoko display all Apple Pay betting sites. Punters actively search for overviews of operators by payment method and then start comparing them. The importance of payment options can not be overstated.

What would be your key advice to operators as they navigate the changing payment landscape in the UK?

My top advice to operators would be to stay agile and customer-focused. The payment landscape is rapidly evolving, and operators who can quickly adapt to these changes will be best positioned to succeed. This means continuously evaluating and updating your payment options to ensure they meet customer needs.

Operators should also invest in partnerships with reliable payment providers who can offer secure, efficient, and innovative solutions. Building these relationships can help operators access the latest technologies and stay competitive in a crowded market.

Lastly, it’s crucial to keep a close eye on emerging trends and be willing to experiment with new payment solutions that could offer a competitive edge. Monitor competitors and don’t be afraid to reach out to your affiliate partners to see which payment methods convert the best.