Neteller is ruining lives.

Sean · 05-29-07, 05:09 PM

I am seriously having a nervous breakown over this Neteller money. I need it now. I need to pay my credit card bills and my rent. If I don't get it, I am financially ruined.

Gambling with money one needs to pay the bills ruins lives.

MaxDemo · 05-29-07, 05:11 PM

Hey Sean are you the same as Sean at therx.com??

Sean · 05-29-07, 05:13 PM

Originally posted by MaxDemo

Hey Sean are you the same as Sean at therx.com??

No sir.

vanzack · 05-29-07, 05:29 PM

I would say neteller is far down on the list of this guys problems.

The Prick · 05-29-07, 05:33 PM

i have (had)? a pretty good slug with them thieves cause my ol' lady couldn't get her paws on it. any of you braniacs got scoop on when (if) i'm gettin' paid?

pico · 05-29-07, 05:33 PM

Originally posted by vanzack

I would say neteller is far down on the list of this guys problems.

agree. i think neteller is doing them a favor at this point...in couple of month those people will get some extra cash they never expect to recieve

Dark Horse · 05-29-07, 05:35 PM

If they had my money I would get myself some poison dart frogs and hop on the next plane to the isle of Man.

LargeMouthBass · 05-29-07, 05:37 PM

I think I'm the only guy that owes Neteller $432 for instant deposit... This has been pending for the past 4 months and never been taken out of my bank account. So personally, I don't think Neteller is trying to steal anyone's money.

The Prick · 05-29-07, 05:51 PM

Hey, Bass, i just explained the situation to NT cs, they said you should ** me that $432 you owe and they'll take it outta my account.

LargeMouthBass · 05-29-07, 05:54 PM

Originally posted by The Prick

Hey, Bass, i just explained the situation to NT cs, they said you should ** me that $432 you owe and they'll take it outta my account.

LOL... Yeah, Neteller CS told me to send $432 to some prick but I didn't know they meant you. Well sir, check is in the mail.

LVHerbie · 05-30-07, 12:42 AM

Originally posted by Sean

Gambling with money one needs to pay the bills ruins lives.

You might want to reread the post again Sean... The guy wasn't gambling with the money as it was sitting in Neteller and not in a site... Lots of people who do/did this for a living (me included) kept excessive amounts in neteller in case something came up that they needed the money for (bonus, scalp, etc.) and just took money out of neteller as needed... I always figured my money was safer in neteller then in some book or pokerroom and tried to keep my money low on the sites and in neteller... I had a neteller debit card and could get it in 15 minutes if I needed it... Luckily for me I was able to get my money into another site shortly before the shit went down (unlike many other people)

isetcap · 05-30-07, 12:46 AM

Originally posted by Sean

Gambling with money one needs to pay the bills ruins lives.

Oh so having your money at Neteller was considered gambling! Now I understand. So many people here kept telling me it was practically a bank.

ion · 05-30-07, 12:59 AM

It appears that keeping money in Neteller was a gamble after all. I hope they pay soon though.

LT Profits · 05-30-07, 01:03 AM

Herbie, isetcap,

I actually side with Sean here. If someone had a balance in Neteller, the INTENT was obviously to use the money for gambling opportunities as Herbie described, so it may as well be categorized as gambling money. So more to the point, if the guy in RickySteve's original post had money tied up in Neteller that he now needs to live on, he should look for the neartest GA meeting immediately!

isetcap · 05-30-07, 01:17 AM

Originally posted by LT Profits

Herbie, isetcap,

I actually side with Sean here. If someone had a balance in Neteller, the INTENT was obviously to use the money for gambling opportunities as Herbie described, so it may as well be categorized as gambling money. So more to the point, if the guy in RickySteve's original post had money tied up in Neteller that he now needs to live on, he should look for the neartest GA meeting immediately!

Absolutely incorrect. Simply because one deals with gambling operations does not mean that he/she is gambling with the money. Even if it is the case, the gambling opportunity does not extend to the financial processor. Neteller never had any problems sending money to an 'F' book. Their excuse was always that they are a seperate entitiy. As such, they do not get afforded the excuse, "Oh well, that's what happens when you gamble." The truth of the matter is that when you're money is in Neteller, that's when you're not gambling. This guy would have been better off if he WERE gambling and had his money in some "gambling opportunity" but instead he fell prey to a company that was and STILL IS poorly run.

Maybe he should attend a NON-gamblers anonymous meeting.

Bill Dozer · 05-30-07, 01:56 AM

I feel for this guy and the others who are hanging. I still think players get paid but this surely would hurt more than any sportsbook theft. Neteller was noted as being registered as a UK bank on Yahoo's stock page.

LT Profits · 05-30-07, 02:04 AM

isetcap,

I don't totally understand your post. Why would anyone have a balance in Neteller if they did not intend to bet with it? If anyone is TRULY not gambling, he/she would pull all monies out of neteller and put it in the bank.

DrSlamm · 05-30-07, 02:20 AM

its ridiculous to say that this person belongs in GA because they kept too high of a balance at neteller.

people regularly had HUGE balances in neteller because it was a BANK. maybe it was stupid to keep such a high balance in a bank that turned out to be a shitty bank but in reality that has nothing to do with having a gambling problem

isetcap · 05-30-07, 02:23 AM

Originally posted by LT Profits

isetcap,

I don't totally understand your post. Why would anyone have a balance in Neteller if they did not intend to bet with it? If anyone is TRULY not gambling, he/she would pull all monies out of neteller and put it in the bank.

A person can operate in a gambling environment without gambling.

Is putting your money in the bank a gamble when you want to fund your brokerage account and buy some stocks? No, the stock market is the gamble and the bank is the safe haven. Should you check into Gambler's Anonymous when your money can't be retrieved from the bank account because some governmental agency has frozen a portion of the bank's assets due to improper trading? I don't think GA had a spike in membership during the Savings & Loan scandals of the 80s.

I'm not saying that anyone should feel safe having all of their assets designated to one highly volatile enterprise, but I am saying that this mistake is not one that can or should be brushed off as a gambling error.

LT Profits · 05-30-07, 02:29 AM

DrSlamm,

Yes people had high balances in Neteller, but 99% of those people had that money earmarked as gambling money, so as painful as some of the losses were, at least it did not affect their day-to-day living. It is the 1% such as the guy in this post that I would consider a problem gambler, tying up that kind or money.

The key to all this is I do NOT consider neteller a bank because it pays no interest. You guys would have a case - in fact, I would AGREE with you - if Neteller paid interest, but it does not. Thus, any monies tied up there were intended for gambling use only.

LT Profits · 05-30-07, 02:33 AM

isetcap,

The only reason I disagree with your statment is that Neteller's sole existence is to facilitate gambling. REAL BANKS are a safe haven - a non-interest bearing enterprise that holds your money between bets is not. I guess we'll agree to disagree.

rm18 · 05-30-07, 02:41 AM

He is not neccessarily gambling with the money, or at least not all of it. He could have been using it for arbitrage oppurtunities. Also if he is a straight gambler he could be diversifying the funds to different books without really ever having it all at risk. I have money offshore that I need to eat/live etc. but will never have it pending in bets just diversified to different books to get the best line.

RickySteve · 05-30-07, 02:42 AM

Originally posted by Sean

Gambling with money one needs to pay the bills ruins lives.

Those are the same people that pay your bills, you pompous dirtbag.

LT Profits · 05-30-07, 02:49 AM

rm18,

To each his own, but I would never have money offshore that I need for living expenses, especially with a wife, two kids and two mortgages. I understand that you need to have huge balances off shore to arb, but I would say you should not be arbing in the first place until you have enough capital to sufficiently fund the books without eating into your living money.

RickySteve · 05-30-07, 03:16 AM

Originally posted by LT Profits

I do NOT consider neteller a bank because it pays no interest.

What is the definition of bank?

A bank is a business that provides financial services, usually for profit.

What does a bank do?

Traditional banking services include receiving deposits of money, lending money and processing transactions.

Clearly Neteller is not a bank. It's an...umm...er...uhh...

Originally posted by LT Profits

REAL BANKS are a safe haven

No arguing with that.

isetcap · 05-30-07, 03:21 AM

Originally posted by LT Profits

isetcap,

The only reason I disagree with your statment is that Neteller's sole existence is to facilitate gambling. REAL BANKS are a safe haven - a non-interest bearing enterprise that holds your money between bets is not. I guess we'll agree to disagree.

For three years I had a Neteller account that amassed a balance consistently over 5 figures and not a CENT was from placing a wager of any kind.

I've never said Neteller was a bank or anything similar. In fact, I have argued vehemently against those kinds of statements by others on this very forum. I have always been a very outspoken critic of Neteller and their business practices and often I have been the only one. That doesn't mean that anyone who kept funds there should ever have had to feel like their money is not safe. That WAS one of the very specific reasons to use Neteller.

isetcap · 05-30-07, 03:24 AM

Originally posted by RickySteve

No arguing with that.

They gambled and lost. Hopefully they didn't need that money to pay the bills.

LT Profits · 05-30-07, 03:38 AM

isetcap,

If you do not mind, I find the need to ask: Why would you want to have a five-figure balance at an establishment that pays no interest?

isetcap · 05-30-07, 03:41 AM

Originally posted by LT Profits

isetcap,

If you do not mind, I find the need to ask: Why would you want to have a five-figure balance at an establishment that pays no interest?

Because Neteller WAS the establishment of choice for the vendors with which I conducted my business.

LT Profits · 05-30-07, 03:44 AM

So are you saying you are one of the few that used Neteller to deal with non-gambling vendors?

isetcap · 05-30-07, 03:53 AM

Originally posted by LT Profits

So are you saying you are one of the few that used Neteller to deal with non-gambling vendors?

Incorrect. I dealt with gambling vendors, but I was not wagering with them. If someone does work for a sportsbook and the sportsbook decides not to pay them, should we just say, "Tough luck, but you were gambling!"

LT Profits · 05-30-07, 03:58 AM

So you are saying you did some freelance work for sportsbooks and got paid via Neteller. If I am correct, then indeed you shot down my statement that Neteller only exists to facilitate gambling. OK, can we say exists 99% to promote gambling?

isetcap · 05-30-07, 04:13 AM

Originally posted by LT Profits

So you are saying you did some freelance work for sportsbooks and got paid via Neteller. If I am correct, then indeed you shot down my statement that Neteller only exists to facilitate gambling. OK, can we say exists 99% to promote gambling?

That number sounds a bit low. 99.99% might be closer, but the point I'm trying to make is that there are undoubtedly legitimate situations that exist as a result of this debacle (it can be called nothing else), that are slightly more substantial than being simply side money allocated for entertainment purposes.

I detect a slight level of facetiousness in the original post that Ricky Steve quoted for us, so it may be that this guy is not quite as bad off as he is leading some to believe, but that doesn't mean that he hasn't put into words the pain that some people are going through with this situation.

jjgold · 05-30-07, 05:54 AM

Many people lost everything with companies going down also

part of life and a bad break