How to boost cost-efficiency in winning payouts with multiple refunds
March 8, 2024
2 min
In the world of gambling and betting business, cutting costs while maximising profits is a constant goal. Luckily, we have a feature designed to reshape how payouts are handled, offering substantial financial flexibility for gambling and betting merchants. Dive in to find out how multiple refunds open up new avenues for financial optimisation.
Multiple refunds explained
Handling payouts is routine for gambling and betting companies, but it comes with fees. Usually, providers charge a percentage of the total invoice amount.
Suppose you have a winning payout of $500. The average card processing fees can range between 1% and 3+% of every transaction. For large payout volumes, processing fees can become a significant expense.
Here comes the game-changer — multiple refunds! This feature allows you to pay out winnings as refunds and split the transaction amount into as many parts as you need within one invoice amount. Select any of your player's invoices and initiate several refunds amounting to a winning of $500. Surprisingly, processing refunds might end up being cheaper than the usual percentage-based payout fees.
This feature provides a strategic advantage in managing financial transactions by offering a customisable and cost-effective alternative to traditional payouts.
Please note that the availability of multiple refunds and the specific limitations associated with them depends on your provider's terms and conditions.
Cost efficiency meets user experience
While the prospect of significant cost savings is enticing, it's essential to weigh the benefits against the potential impact on user experience. Multiple refunds disburse winnings in parts, which may not align with the seamless experience users often crave. Striking the right balance between cost efficiency and user satisfaction is key to maximising the potential of this feature.
Multiple refunds is a smart strategic tool for gambling and betting companies looking to cut costs, enhance financial efficiency, and embrace a more flexible payout approach. Use it wisely, find the sweet spot between saving money and keeping players happy, and you're all set to conquer the market.
