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Year-End Statistics are in for E-Wallet: Q1 2007

Not surprisingly, Neteller recently reported that 2006 was a wildly successful year for the e-wallet in terms of gross revenue that related to electronic money transfers mainly in the online casino industry. Though the 2006 report was due out over a month ago, online casinos industry analysts were eager to examine the report with a specific look at the included first quarter results for 2007.

Without a doubt the trouble that Neteller encountered with the United States government has resulted in a decrease in registered players and more importantly many online casino players distrust the company after the lack of communication over the last eight months. Neteller was not very informative during the eight months of U.S. federal investigation, and U.S. online casinos players still have yet to receive disbursement from their frozen accounts. These actions are predicted to severely effect the recovery time-frame for the online casino e-wallet, and thus also greatly affect 2007 year-end profits.

As Neteller begins to truly comply with online casino gambling regulations and restrictions in multiple countries the e-wallet was forced to pull out of multiple markets this year: Turkey, Israel, Canada, and most notably the United States. Though 2006 saw Neteller entering the online casinos market in 11 countries, and they expanded operations in Europe and Asia, the industry analysts predict that those actions will not generate enough revenue to counteract the U.S. lawsuit and decrease in registered players.

Analysts predict that 2007 year-end results will show a 70 to 75 percent decrease in online casino related revenue.