Published on October 3rd, 2015 | by neteller0
Online gambling industry of USA and netellers
What is online gambling?
Online gambling had played a major role and has a whole industry dedicated to it. The basic thing of online gambling or gaming is that there is always a middle man who helps in money transaction. The games are basically played online. But now days, there have been a lot of illegal gambling activities which are going around the world, so USA authorities decided to put a ban on it.
What is netellers?
Netellers is an online money transaction application, like PayPal but mainly used in gambling industries. This had been playing a great role among the present day gamblers around the world especially in USA.
The issue with netellers
The basic issue was about Neteller getting involved in illegal online gambling activities and thus their work in USA was on put to a hold. Due to this there arose a great turmoil and about 250,000 accounts were seized. But now those things have changed and people have started receiving their money.
Netellers relation with the gambling industry in USA
Netellers had been on the field since 2003 after PayPal had fallen out of course. After that netellers have made their tribune and became famous among most of the gamblers of online gambling, all over the USA. It had become so famous that the two third of its total revenue came from the USA. But lately due to the ascended turmoil, online gambling was made illegal by federal laws and a great investigation as a result of this, took place. Neteller being a major industry in the field of online money transaction became a major target by the federal governments. The evidence that was taken into custody was only the transactions that were made. Neteller’s co-founders, Stephen Lawrence and John Lefebvre, were found out to be guilty and were charged of conspiracy for transferring assets with the intention to endorse illegal gambling. They were imprisoned for five years. After this Neteller’s spokesperson Gilchrist said, “Some of our important customers were among the early withdrawers,” It was said via e-mail to USA TODAY. Neteller also sent an e-mail to all of their users, that their accounts are temporarily opened and now they would be able to withdraw their cash. And now almost 7 billion dollars had been withdrawn and people are happy getting their money back. The deadline of withdrawing is 26th of January according to the netellers website. Netellers customers are also getting relinquishment in support of their loss.
There had been a lot of turmoil over the illegal online gambling and netellers getting involved. But still netellers didn’t left their hope of getting back to USA. They are still doing business with almost 168 countries around the world mainly with European countries like England where online gambling is legal still now.