Neteller was at one time one of the most popular deposit methods that US online gamblers enjoyed. The system is fast and efficient, the company has years of experience in the online gambling marketplace, and Neteller was known as a safe and quick banking option. Online gamblers simply fund an account at the Neteller website using their preferred banking method, and then that Neteller account can be used for opening accounts at Neteller online casinos, sportsbooks and poker rooms, as well as hundreds of online retailers.
The problem came about when the UIGEA 2006 ruling put an end to Neteller’s transactions with online poker players from the United States. The Unlawful Internet Gambling Enforcement Act forbid American companies from providing deposit methods for US players opening online gambling accounts. Neteller was arguably the favorite e-wallet of US players, so basically, overnight their business crashed. They were forced to exit the US market in search of friendlier online gambling legislation and regulation regarding banking methods overseas.
But now a full six years after being pushed out of the US online gambling market, the once favorite banking option for US poker players appears to be making its return. Also providing player to player transactions, the efficient and trustworthy online payment processor is back in business after paying a $136 million penalty to US prosecutors. In late 2011 the Department of Justice in the United States flip-flopped their age-old position on Internet poker, allowing each individual state to make the decision to offer it or not. Since then New Jersey, Delaware and Nevada have all legalized online poker in those states.
Online gambling is almost a reality in the above states, and there are several pieces of legislation that propose a nationwide legalization of online gambling. As more and more states begin to allow online poker and other forms of online gambling, Optimal Payments, the parent company of Neteller, is positioning themselves properly to be a massive player in the online gambling deposit method marketplace in the United States once again. They recently inked a deal with Caesars Interactive Entertainment, allowing them to once again serve American customers. A company spokesperson says that they are also actively seeking multiple partnerships with other casino operators.
Some online properties like the Lucky Red Casino have a base of operations outside of the United States, and currently offer Neteller as a preferred deposit method. By centering their headquarters outside of the US, these companies can legally offer online gambling to US players. This means that Americans desiring some online Las Vegas style casino action do not have to wait until Nevada, Delaware, New Jersey and other states officially launch their online gambling offerings. The Lucky Red Casino supports US players as well as international online gamblers, and offers a multitude of banking options besides the popular Neteller, which appears to be back in action in the United States online gambling marketplace, and we’re hoping it is readily available to USA players sooner rather than later!
Note: If you visit the Neteller website, you will see that they are not yet providing accounts to USA players. We’ll do a new post once the process is actually in place and the wheels are in motion.