Neteller staying!

[Dark Horse]

DOW JONES NEWSWIRES
October 11, 2006 12:31 p.m.

A Neteller PLC executive said the British company, which handles payments for online gambling companies and others, will continue to operate in the U.S., despite the recent passage of antigambling legislation.

"We are staying in the U.S.," said Bruce Elliott, Neteller's executive vice president, marketing and sales, told a online gambling conference in Barcelona. "I don't think we have a very big problem."

[goldengoat]

bush will invade to spread freedom as a result of this terrorist act

[jjgold]

I hope so because I will get back into gambling soon.

[Dark Horse]

Reminds me of Mark Twain's "It's easy to stop smoking... I've done it a hundred times."

[GLopez]

Haha, nice news!

[Jay Edgar]

I hope so because I will get back into gambling soon.

Glad to hear it, JJ.
That hiatus was long enough.

[Illusion]

Finally some good news.

[hanco21]

great news.

[Chuck Sims]

I hope its good news. At least in the short term for sure. But does anyone know what happens to people who thumb their noses at the U.S. government? It aint pretty. How is David Carruthers and BetOnSports doing?

If NT can transfer $ via EFT without detection than I am happy. If not, its only a matter of time before the banks drop the hammer.

[isetcap]

Was never even slightly concerned about Neteller going away.

[InSpades]

What prevents a bank from denying neteller transfers? That would seem easy to do.

IS

[RickySteve]

What prevents a bank from denying neteller transfers? That would seem easy to do.

IS

Neteller is not a gaming site.

[betplom]

Neteller offers a debit card, you could use it to withdraw from your local ATM. I think the Neteller debit card limit is $1K per day from an ATM. Not great for getting 10K out at once, but it isn't difficult to find an ATM

[Chuck Sims]

What prevents a bank from denying neteller transfers? That would seem easy to do.

IS

IS, the naivete on these forums is mind boggling. I raise the same question as you do. And all I get is NT is not a gaming site. Neither is paypal. Neither is Western Union. Once the law is in place, NT is going to have a big fat bullseye on their back.

If NT sends an EFT into the USA, can the bank identify it as such? My opinion is yes. Anyone know different?

[isetcap]

IS, the naivete on these forums is mind boggling. I raise the same question as you do. And all I get is NT is not a gaming site. Neither is paypal. Neither is Western Union. Once the law is in place, NT is going to have a big fat bullseye on their back.

If NT sends an EFT into the USA, can the bank identify it as such? My opinion is yes. Anyone know different?

Those institutions that have a presence within US jurisdiction such as Paypal and Western Union will clearly be unable to circumvent any legislation against providing transactions to online gambling operations. They will not provide their services for bettors once the coding system is in place.

Other institutions that are located offshore but want to continue to provide services to merchants within US jurisdiction will also be quick to disallow gambling-related transactions. ******* is an example of this group.

The groups that have no presence on US soil and operate only with merchants that have no presence on US soil (such as Neteller) are comfortably aware that the US government can not and will not police their activities. In essence they are set up in an autonomous manner similar to offshore bank accounts. These are the groups that will remain.

Essentially any group that has to disclose their activities to the US government in any manner are going to have to cease online gaming transactions. Groups that have no disclosure to the US are free to operate as usual.

[pags11]

JJ's coming back!...

[patswin]

I think Neteller may exist for a bit but eventually banks will block the eft's

[pags11]

I was very happy to read this statement issued by neteller...