Neteller Pulls the Plug on U.S. Gambling
I think everyone new this day was coming, but I have to say, it came a lot quicker than I thought it would. Yesterday, the two founding shareholders of Neteller were arrested on money laundering charges. Today, Neteller announced that it was suspending all processing services for the U.S.
Even if the big players are successful at establishing new payment processors, the Feds will just start adding the new companies to a blacklist that gets distributed to U.S. banking institutions. When that happens, your bank will not allow you to transfer funds to any company on the list.
That will put the industry back to requiring players to send checks or money orders to fund their accounts. I’m sure diehard players will be willing to do that, but the average new player that gets sent to a gambling site via an affiliate won’t.
If you are someone still earning a living as a poker/gambling affiliate, I’d suggest you spend the rest of week looking for a new gig, or get busy boning up on Euro/Asian SEO.
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It’s a real sorry state of affairs. As an affiliate that get’s paid through Neteller, news that their shares have suspendend trading on the London Stock Exchange does make me wonder if Neteller will remain a viable business.
The Asian market is set to be keenly eyed all over, one sideline may be worth investigating for US affiliates is looking at voucher payment systems in the Asian market. My understanding is this will be a growing area as they try to get around the problems with Credit Card fraud in certain Asian territories.