The merchant must have the correct licences to get approvals for a betting merchant account. Along with that basic KYC and Website compliance is also mandatory. The solution may only be available with high risk processors.
Lets first understand about various MCC codes that are related to betting and gambling
- MCC 7995. This is the code assigned to merchants that accept card present/absent transactions. Some segments that are included in this MCC are listed below
- Lottery Tickets
- Casino Gaming Chips
- Bingo Stations/Parlours
- Binary Trading
- Raffle Tickets
- Off-Track Betting
- Race Tracks Wagers
MCC 7800. For US Merchants. This code is for government owned lottery
MCC 7801 For US Merchant. This is for government licensed online casinos and online gambling
MCC 7802 For US Merchant This code is for government owned Dog/Horse Racing
MCC 9406 This code is for Government owned lottery services that are in Non USA regions.