• OTHER ONLINE GAMBLING E-WALLETS EXPECTED TO FILL NETELLER VOID IN U.S.

    19 January 2007

    Newspaper

    HERALD TRIBUNE
    The Associated Press
    Published: January 18, 2007

    LAS VEGAS: Though payment processor Neteller PLC is the latest and largest such company to pull out of the lucrative but illegal U.S. online gambling market, industry observers said other e-wallet sites would come forward to take its place…

    …The arrests were the latest in a series of enforcement actions by the U.S. government against the online gambling industry. The crackdown has targeted the financial middlemen who sprung up after credit card companies and PayPal gave in to pressure to stop processing online gambling transactions from U.S. customers in 2001…..

    …”What you’re finding with the Internet gambling sites is the publicly traded ones and prominent ones are leaving,” said David Stewart, an online gambling expert and lawyer with Washington, D.C.-based firm Ropes & Gray LLP…

    …”The entities that are more visible and are more transparent can’t take the heat,” he said. “And all the rest of them are still in the business.”

    …Michael Bolcerek, president of the online poker lobby group, Poker Players Alliance, said the withdrawal of brand name providers would encourage the emergence of less trustworthy money dealers.

    “People are going to migrate to nonpublic, less transparent methodologies,” he said.

    Poker magazine publisher Eric Morris of Bluff Media LLC said the withdrawal of PayPal and major credit card companies from the U.S. online gambling business in 2001 caused a panic that didn’t last.

    “The industry took a bit of a dive and came back stronger than ever before,” he said. “The bottom line is that people are going to find a way.”

    MORE – READ THE COMPLETE ARTICLE AT HERALD TRIBUNE

    Related News

    • 18 September 2020

      Lucky Tiger Casino Unleashed Upon Adoring iGaming Crowds

      There is a brand-new online casino on the horizon, and it’s one that is ready to pounce and pack a punch: Lucky Tiger is the name and it’s all business! Gamified quests, generous winning potential and much more makes this online gambling establishment a place to look out for in the final quarter of 2020! A Bit About Lucky Tiger Let’s first take a look at Lucky Tiger’s origins.

      Read full article
    • 09 September 2020

      Greentube Strengthening Position in Spain By Partnering up with Gran Madrid Online

      Greentube already has a significant influence in the Spanish market. Now it is extending its footprint in this country by partnering up with leading operator Casino Gran Madrid Online. The distribution deal will see the provider’s classic and tailored iGaming content implemented into the offering of the operator, enabling the brand to expand its presence on the Iberian Peninsula.

      Read full article
    • 15 August 2020

      Funbet Casino Brings the Fun to Both Casino Players and Sports Bettors!

      It seems like new online gaming platforms are popping up left and right, but not all of them have what it takes to attract the market’s attention. That certainly isn’t the case with Funbet Casino, with a lot of interesting things in its offer. As a platform that doesn’t only look out for the casino players, but also sports bettors, it has a strong portfolio of entertainment choices to show for.

      Read full article