This Growth Stock Is Riding the Online Gambling Boom
Innovation in the financial sector continues to enable new opportunities in emerging industries. As some forms of online gambling spread across America, there's a need for secure payment solutions to process customer transactions. Few business models require taking custody of customer funds (think stock brokerage accounts, for example), so it's crucial that transfers to and from customers are safe, reliable, and fast.
Paysafe (NYSE: PSFE) is the parent company of Skrill, a digital wallet provider, and Neteller, which is used to facilitate payments between consumers and merchants. Through these two brands, the company is the global payments leader in what's becoming known as the iGaming industry, serving online casinos, sports books, and even the emerging esports craze. It has brand-new partnerships with sports betting companies in the U.S., and the segment is growing rapidly.
Source Fool.com
