If you have an account with horse wagering website BetAmerica.com, you may have received an e-mail this week regarding a new deposit method for funding your account. On July 10th, BetAmerica announced a new e-wallet payment method by the name of PayLucky. The new funding option was new to me as I’m sure it was to many of you, so I decided to do a little research and see what it’s all about.
PayLucky was launched in 2014 by global payment processor First Data Corporation, which is headquartered in Atlanta, Georgia. The company was established in 1971 and is now the largest credit card payment processor in the United States and possibly the world. To give you a sense of the size of their operation, it is estimated that First Data handles 45% of all credit and debit card transactions in the United States today. Another way to look at it is that every time you use your credit or debit card in the US, there’s roughly a 50/50 chance that First Data services are used to complete your payment.
So, what we can establish up is that PayLucky is a legitimate payment method with the backing of a huge financial services provider. This is not some fly-by-night e-wallet that is going to take your money and run. In fact, First Data is publicly traded on the New York Stock Exchange under the moniker FDC.
How It Works
PayLucky is an online wallet that offers instant credit card payments for gamblers in the United States. You can use it to store funds online, send deposits to betting sites such as BetAmerica and then receive payouts when you win cash. The primary difference between PayLucky and other deposit methods is that PayLucky is designed specifically for US-legal betting websites and offers a significantly higher acceptance rate compared to other deposit methods.
Once you sign up for an account with PayLucky, it serves as a place for you to transfer funds and keep them in a secure online account. You can load your PayLucky account through a variety of funding options such as credit card, debit card and ACH bank transfers. The company also prides itself in approving payments quickly in order to eliminate delays that typically accompany online money transfers.
Your PayLucky account can also be used to receive payouts from betting websites. For example, if you score a big win at BetAmerica, you can request a payout back to your PayLucky account. You can then log in to your PayLucky account and have them send the winnings to you via ACH bank transfer, paper check in the mail and even ATM/cash payouts. A press release announcing the launch of PayLucky also explains that they take pride in giving players instant access to winnings.
You also have the option to request a prepaid debit card that is connected to your PayLucky account for instant access to your winnings. You can use this card to make purchases wherever MasterCard is accepted and to withdraw cash at ATMs. For example, if you have a big day at the races, you can turn right around and buy a bottle of wine to celebrate using the balance in your PayLucky account. Alternatively, you can head to the nearest ATM and withdraw cash from your balance.
BetAmerica has only recently rolled out PayLucky as an option, so the full range of services has yet to be implemented. For now, customers can use PayLucky to make secure credit and debit card payments. We can expect BetAmerica and other sites to expand the offering in the future to include bank transfers and additional loading options. PayLucky is currently available to BetAmerica customers in California, Massachusetts, New Mexico, Ohio, Oregon, Wisconsin and New York.