Luckbox Teams Up with Bambora to Launch PaymentIQ

Luckbox, Real Luck Group’s subsidiary, has signed an agreement with payment software operator Bambora to include their PaymentIQ platform in Luckbox.

PaymentIQ Expands Deposit Options for Players 

The award-winning betting company Luckbox has struck an agreement with payment software developer Bambora, which will see their PaymentIQ gateway added to the Luckbox platform. Luckbox is Real Luck Group’s subsidiary and offers legal, real-money betting, live streams, and statistics on all major esports and sports on desktop and mobile devices. 

The new deal will benefit Luckbox customers by expanding the deposit options for players. Customers will now have access to every common payment method, including major credit cards, e-wallets, automated online bank transfers, mobile payments, and invoicing. 

Recently, Luckbox signed a deal with Funanga to provide more payment solutions with CashtoCode. The agreement will provide players with the opportunity to deposit funds into their accounts on Luckbox at 150,000 locations operating in multiple markets. 

PaymentIQ is expected to increase payment exception rates and boost fraud detection as Luckbox is thriving to become an esports betting leader. 

“This is an important addition to the Luckbox platform as it enables us to provide players with more comprehensive and frictionless payment options, which in turn supports the Company’s plans for robust revenue generation. In short, it is designed to help us increase players’ ability to bet.” 

Boris Kostadinov, head of payments, Luckbox 

Kostadinov added that the integration with PaymentIQ is another important step in the development of the company’s platform in an attempt to boost customer satisfaction ahead of scaling up marketing spend. 

Per Sundell, senior business development manager at Bambora shared his excitement about the opportunity to assist Luckbox with their payments through the company’s platform, PaymentIQ, and said Bambora is looking forward to streamlining Luckbox’s payment flows and growing as a team. 

Luckbox Builds Strategic Foundation in Q12021 

Luckbox reported a net loss amount of $1.9m in Q1 2021, as CEO Thomas Rosander said the company was building a “solid foundation” that would become a driver of growth in the future. The business did not report any revenue for the quarter, while its costs of sales amounted to $87,817, of which $71,557 was spent on third-party platform fees and the remainder on free bets.