Neteller to comply with Unlawful Internet Gambling Enforcement Act

[RakeBackDirect]

Pokeraddict -- if you feel this thread is posted in the wrong forum or is not appropriate to the Affiliate/Rakeback forum, please feel free to move or delete.

This does not deal directly with rakeback or affiliates, but I think it effects (or will effect) everyone in the US and goes hand in hand with not only how affiliates run their business but also how poker players fund their accounts. It sounds like it might effect how I pay out players, and also will effect the ease at which players can transfer funds into their poker accounts.

I did a search, and did not see that this had been posted yet, so I apologize if this is a re-post.

Neteller announced today (10/19/06) that while they are "...registered outside the US, [they] will comply with the Act and its related regulations as if it were subject to the Act's jurisdiction."

For the full press release, please reference:
http://investors.neteller.com/netell...oct06Final.pdf

I found this disturbing...did anyone already know about this and has anyone come up with or know of another large money transfer business sites that definitely do NOT plan on complying with the new legislation at hand?

Please discuss =)

Tim
RakeBackDirect

[metsandfinsfan]

its been posted in legis forum

[RakeBackDirect]

sorry for the re-post, you are correct...I do now see it in the other forum... pokeraddict, you can do with this post what you wish...to answer my own question, I know there are sites like Click2Pay and MoneyBookers, I just have not really heard much as to their stance when it comes to this new legislation, so I was debating what the best method would be to transfer funds (merchant transfers, etc).

Thanks for the heads up metsandfinsfan!

Tim
RakeBackDirect

[PopFreak]

Hey Rakeback,

I'm looking for an affiliate and I looked at yours, I have to ask why you only offer %20 at FT while everyone else offers 27%

[Pokeraddict]

It's a little OT but its fine. I am sure that the poker rooms that have kept accepting US players already have a way around Neteller in the works should Neteller in fact pull out. Remember when Paypal stopped processing gambling transactions? Neteller was barely a player. Keep in mind offshore sportsbooks have been taking bets and processing payments long before there was ever an internet.

[RakeBackDirect]

PopFreak - I would like to keep this thread focused on Neteller and other money transfer sites so as to not stray off topic, but to answer your question, we are a smaller affiliate company that is relatively new...and because of that, do not have as many Full Tilt players as some of the more established rakeback affiliates, therefore not allowing us to be able to, at this time, provide 27% as many other affiliate do. To be honest, most of our players play at sites that offer higher rakeback percentages so as to maximize their rakeback potential -- Full Tilt is one of the lower percentages we offer. However, we do expect to be able to offer the 27% rakeback through Full Tilt most likely within the next month or so. Thanks for inquiring!

Tim
RakeBackDirect