New Neteller Press release.

[ridonkulous]

Neteller

[ QUOTE ]
NETELLER, a company registered outside the US, will comply with the Act and its
related regulations as if it were subject to the Act’s jurisdiction. This action is
intended to ensure that the Company is able to continue to operate with the support of
its principal commercial partners and to protect its shareholders, business partners,
employees and reputation.


Various provisions of the Act, including the obligations of financial transaction
providers such as NETELLER, remain unclear. This uncertainty should be largely
resolved when the Secretary of the Treasury and the Board of Governors of the
Federal Reserve System issue the regulations they are required to prescribe within 270
days.quote]

[Phil153]

Cliff notes: Nothing has changed for now. Neteller continues to accept US gambling payments. They have accelerated their review of the Act and will monitor developments closely.

I read this statement as covering their ass. They will continue to do business as normal until someone rattles their cage or the intent of law enforcement/the banks become clearer, then they will probably bail.

[ridonkulous]

Nothing has changed for today. But Neteller is done, the only question is when.

[ QUOTE ]
NETELLER, a company registered outside the US, will comply with the Act and its
related regulations as if it were subject to the Act’s jurisdiction.

[/ QUOTE ]

[Big Bend]

[ QUOTE ]
Nothing has changed for today. But Neteller is done, the only question is when.

[/ QUOTE ]

Ya thats what I figure too, they're gona wimp out like Firepay did eventually. Oh well, someone else will step up to the plate.

BB

[Viscant]

Any idea on who that somebody will be, or when? Because this piece of news depressed me greatly. Worst piece of news in 2 weeks, imo.

[I Hate Frist]

Does anyone know of ANY legitimate way to transfer money if neteller closes? I'd like to hop on it ASAP!

[roxtar]

[ QUOTE ]

Any idea on who that somebody will be, or when?

[/ QUOTE ]

I have no clue who it would be but I can guarantee you that they won't be anywhere near as trustworthy as Netteller. That's what this law has in common with alcohol prohibition... Those laws didn't stop people from drinking - you only had people going blind from drinking bathtub gin and tainted beer. Same thing's going to happen with this law - it's not going to keep people from gambling, it's only going to have them going through disreputable companies that may rip them off and they'll have NO recourse whatsoever.

[whangarei]

[ QUOTE ]
[ QUOTE ]
Nothing has changed for today. But Neteller is done, the only question is when.

[/ QUOTE ]

Ya thats what I figure too, they're gona wimp out like Firepay did eventually. Oh well, someone else will step up to the plate.

BB

[/ QUOTE ]

Weren't there reports Neteller was looking to go private?

But this quote is a little concerning out of the Isle of Man, where Stars and Neteller operate:

"Bill Mummery, the government's e-gaming supremo, was at the European International Gaming Awards (EIG) in Barcelona last week. He said many gaming companies are switching their focus to Europe and Asia.

He said: 'None of the operators want to trade illegally. That is evidenced by the huge amount of money they are spending on legal advice, in order to understand the actions in the US. For every threat there is an opportunity. If the short history of gaming is written in five or ten years time, these events will be seen as a water shed. No longer can firms put developing other geographical areas such as Europe and Asia, low down on their list of priorities.'"

IoM article

[jackaaron]

[ QUOTE ]
Nothing has changed for today. But Neteller is done, the only question is when.

[ QUOTE ]
NETELLER, a company registered outside the US, will comply with the Act and its
related regulations as if it were subject to the Act’s jurisdiction.

[/ QUOTE ]

[/ QUOTE ]


Who cares? Seriously. If Neteller is gone, then we'll use something else. So will fish. Fish like to play. They think they're very good. They like sucking out...poker is FUN to them when they suck out. We'll find new ways to deposit and w/d, and they'll ask us, and we'll tell them.

[Dunkman]

Yeah they can't really fly in the face of US law being a publically traded company. Lets hope that the steps they're taking to throw the burden onto the sites will be enough to allow them to continue to legally do business. That, or the banks just say it's too hard and no one tries to enforce this crazy law.