Mazooma is an online payment service that specializes in processing deposits and withdrawals for licensed betting sites in the United States. Unlike most other payment methods, Mazooma was purpose-built for online gambling from day one. Mazooma has specialized in managing online gaming payments since 2009 and is running strong to this day.
Major Betting Sites with Mazooma Deposits
This is one of the most popular payment processors in online gambling for US customers, but it would be no surprise if you’ve never heard the name “Mazooma” until recently. That’s because Mazooma offers a white label solution for licensed betting sites in the USA, which means your gaming site controls the look and feel of every deposit method and checkout page managed by Mazooma.
In other words, rarely will you see Mazooma logos plastered all over your betting site’s cashier page. Mazooma works in the background as it assists gaming operators in payment processing, customer identity verification and security.
Types of Mazooma Deposits Offered to Customers
Mazooma established its business with a focus on eCheck and online bill pay deposits that transfer money directly from a customer’s bank account to their gambling account. The service is widely used throughout the industry, so there’s a good chance you’ve used Mazooma in the past without even realizing it if you’ve ever funded a betting account with a bank transfer deposit.
eCheck Deposits: Mazooma powers eCheck deposits that allow you to fund your gaming account using nothing more than your bank account. There’s no need to whip out the credit card to make a deposit; simply type in your banking info, choose an amount to deposit and you’re good to go.
Online Bill Pay Deposits: Online bill pay deposits work in much the similar manner as electronic bank transfers with one minor twist. Rather than typing in your banking info, you simply fill in your requested deposit amount and are directed to a secure page to log in to your bank account using the existing login information you already use to check your balance. This confirms your ownership of the account and authorizes the deposit.
Where Mazooma differs from other payment methods is in how quickly it processes transactions. One of the service’s key differentiating features is it communicates with banks at the time the deposit is made to verify your identity, account balance and account ownership.
This provides an important advantage to players and operators alike: there’s no need to run through a separate verification process before your payment is completed. Your ownership of the account and the payment are processed at the same time.
For instance, it was common practice in the past for eCheck services to first verify you own your bank account by making two small deposits into your account. The payment provider would then ask you to verify the amount of each deposit to ensure you actually own the bank account in question.
The old way of confirming account ownership was a slow and cumbersome process. Not only was it annoying for players, but it cost operators potential customers who would either have issues verifying or simply not feel like the hassle was worthwhile. The streamlined process offered by Mazooma deposits works better for everyone.
Mazooma Gateway Deposits
In mid-2019, Mazooma announced the launch of an improved payment platform offering operators access to its full suite of payment options through a single API integration. Although this may not sound particularly interesting to players, operators warmly welcomed the announcement as it streamlines the process for adding new payment methods.
Mazooma Chief Product Officer Dave Roe explained it this way at the time:
Operators in the U.S. gaming market understand the importance of offering customers a variety of payment choices; however, long integration queues are a major hindrance to adding new payment methods. The Mazooma Gateway will allow merchants to significantly reduce the integration effort that would typically be expected from onboarding two distinct payment methods.”
To put it simply, Mazooma Gateway makes it faster and easier for operators to introduce new deposit options. The benefit to players is that as new, convenient deposit methods are developed, their gaming sites can add those new methods faster than before.
An Alternative to Failed Credit Card Deposits
One of the key market advantages Mazooma holds over other payment processors is its ability to process payments in a difficult banking environment for the gambling industry. Even though a growing number of states have legalized online gambling, payments remain a challenge due to banking institutions being hesitant to process such transactions.
Credit card companies have been especially reluctant to deal with online gaming operators out of regulatory and fraud concerns. The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) has been particularly troublesome as it prohibits financial institutions from processing payments for illegal gambling sites.
The law does not impact deposits to licensed betting sites, but sorting allowed from disallowed transactions is a chore for banks. New merchant category codes issued in 2015 have made that an easier task and successful credit card deposits have increased significantly since then. However, some card issuers are still reluctant to process credit card deposits due to an increased risk of fraudulent transactions associated with gaming.
Meanwhile, Mazooma has thrived in this environment with its ability to process electronic banking transfers just as quickly as credit card deposits but with a nearly 100% success rate.
More About Mazooma and FAQs
Mazooma is the biggest online betting deposit method most players have never heard of. The company launched in 2009 and now claims to serve every single licensed betting site in the United States. This includes a range of horse racing betting sites, online sportsbooks, online casinos and more.
Additionally, Mazooma has acquired payment processing licenses in every state with legal online sports betting and gambling. Players and operators alike can take comfort knowing Mazooma has been through the rigorous licensing process multiple times – which indicates a high level of security and competence.
Mazooma also supports responsible gambling habits as a licensed payment processor in the gambling industry. First, players are only allowed to deposit money they actually have available in their bank accounts. Second, players are able to view their bank account balances during the deposit process.
Does my bank support Mazooma?
If you live and bank in the United States, Mazooma works for you. Mazooma has a relationship with every financial institution in the country. The main things you need are to be 21 or older and have online banking activated at your bank.
Does Mazooma support withdrawals?
Yes. Mazooma supports deposits and withdrawals – all done via electronic banking.
Is Mazooma safe?
Mazooma has a strong track record for safety and all the major licensed betting sites in the United States use the company’s services extensively. Additionally, Mazooma transactions take place in a closed-loop environment. This means all payments only involve three parties: the player, the betting site and the player’s bank. Mazooma does not support person-to-person transfers.
Add to that the company’s ability to acquire licenses in every state with legal online gambling and you have a strong case for Mazooma being as secure as one can hope for in this day and age.
Which betting sites does Mazooma serve?
Mazooma serves a long list of gaming operators in the US – including many of the largest names in sports betting. You can see a full list here, but here’s a quick look of some of the biggest: