Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

U.S. Players Speculate on NETeller

If your looking for an example of a company hit extremely hard by the U.S.’s 2006 anti-online casino gambling legislation, then look no further than NETeller. NETeller is an internet payment processing company that was arguably one of the most prominent processors used by U.S. citizens for the purposes of online casinos transactions. But all of that changed in January when NETeller was forced to pull out of the U.S. market – and the fallout since NETeller ceased operations almost 75 days ago is still causing speculation.

Basically, NETeller’s founders, Stephen Lawrence and John LEfevbre, were arrested which prompted a quick suspension of all services to American players and suspension of the company’s shares on the London stock exchange. When all of this occurred, NETeller announced to concerned U.S. based online casino gambler who used the e-wallet that the company was working with the U.S. Department of Justice and needed a mere 75 days to straighten out the situation. Naturally, many of the Americans who had accounts with the online casino e-wallet are concerned about the funds they have now trapped in NETeller accounts.

NETeller has claimed that they will have a solution to announce to the public on the June 4th due-date (75 days from the initial announcement). Now that the online casino industry is also gone from the U.S., most players are just looking for a quick return of funds. And some are seriously worried since NETeller has given no preliminary indications that they have solved the problems that caused this fiasco in the first place. But on the other hand, the company did release a press release just weeks ago concerning the return of U.S. player’s online casino gambling funds. The press release stated: “… On 20 March 2007, it signed agreements with the US Attorneys Office and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers.

"Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.

“We continue to be committed to returning funds to our US customers and working with the US Attorney’s Office,” said Ron Martin, Group President and CEO. “Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.”