Some people have been asking what the total impact is of the Neteller pullout. Before we get into that, let’s make the very, very, very big assumption other payment processors won’t be exiting the US market anytime soon. I say that because this is actually the best case scenario. Chances are more processors will be …
Well, you gotta give it to Ultimate Bet for characterizing two high-profile arrests as “some changes in the online poker industry.” Due to some changes in the online poker industry, NETeller has decided to no longer process payments as of January 17 to customers within the United States. We noticed you have used NETeller in …
Some people asked me yesterday why Neteller was only stopping InstaCash transfers and my response was that because Neteller plans on exiting the market completely and stopping InstaCash helped mitigate the damage since InstaCash involves Neteller fronting the player the money while it waits for the funds transfer from the bank. Without InstaCash they could …
Citadel has announced they are exiting the US market effective immediately. The press release is below and coming on the heels of the news about Neteller and InstaCash this isn’t good news. Still, people on message boards are still in denial claiming these are isolated cases. I guess they’ll just one by one be isolated …
So it looks like the US is charging the founders of Neteller with money laundering (or at least conspiracy to do such). My guess, based on the fact that it seems they were under investigation long before the UIGEA, is that the US is beating them up over the wire act and sports gambling. Unfortunately …