 |  | | | | Online Casino Legislation Affecting Payment Processors 3 Oct 2006 Neteller, a leading online casino payment processor, reacted to the US financial ban on online gambling transactions with a calming message to its online casino members. They have pointed out that the US government has allowed a period of nine moths for the US enforcement and federal entities to prescribe regulations for the new anti online gambling fund bill.
The regulations will be necessary in order to require payment systems, including Neteller, to identify and block or otherwise prevent or prohibit restricted transactions. The company issued a statement saying that it is currently unclear how a European company with no assets, presence or employees in the US would be affected by such a bill. But the London Stock exchange has made it quite clear how the company will be affected.
Payment processors are seen as equal to the online casinos as far as the ban is concerned, and are feeling the heat like the rest of the online casino industry. As the best known gaming e-wallet, they have received much attention and plenty of votes of insecurity. Their shares lost 60.56% of their value or 215 pence Monday, closing the harshest day the gaming industry recalls at 140 pence.
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