Neteller online casinos are, as you might imagine, online casinos who accept Neteller as a deposit option. The company is still the largest Web-based wallet service that specializes in Internet gambling transactions. It's also overwhelmingly popular with players all over the world.
The company was launched in 1999 and was handling over $7 billion in transactions by 2005. In 2007, the United States government cracked down on the Internet gambling industry, especially payment processors. Neteller no longer handles casino transactions for United States players, but it remains a strong business with a huge, worldwide customer base.
The History of Neteller.com
The company began in Canada in 1999, but by 2004, they had moved their operations to the Isle of Man, which is well-known as a friendly and safe environment for companies in the Internet gambling industry. The company has since been acquired by a public company formerly known as Optimal Payments Plc. (They recently changed their name to Neovia Financial Plc., although they still do business and are traded on the London Stock Exchange under the former name of Optimal Payments Plc.)
Stephen Lawrence and John Lefebvre are the two Canadian masterminds who founded the company in 1999. Both served with the company until 2005 and 2006, respectively. In 2007, the United States government found and arrested both founders. Both men paid huge fines and were released from custody.
Neteller still caters primarily to an online gambling niche market, but they do also process payments in other niches. Forex vendors, for example, sometimes accept payments via Neteller. Even some online retailers accept payment through the service.
Which Casinos Accept Neteller?
Most online casinos offer Neteller as one of their deposit and withdrawal options. The exceptions are casinos which cater to a largely United States clientele. Since Neteller no longer does business with U.S. citizens, it makes sense that online casinos which cater to that market not bother with their service.
But if you're playing anywhere else in the world, you'll almost certainly be able to use Neteller for your online casino transactions. To be sure, check the banking methods or the deposit and withdrawal methods listed on the casino's website. This is usually prominently displayed in the menu on the site.
Pros and Cons
The pros of using Neteller as an online payment option are obvious. It's simply one of the most convenient and easiest ways to transfer money from your hands into the casino's hands and vice versa. It's a simple site to use because it's not a bank; Neteller doesn't provide loans.
Think of the service as a virtual wallet similar to PayPal, only with a more enlightened attitude about online casino gambling transactions.
Another pro to using their service is their acceptance rate. MasterCard and Visa are notorious for declining transactions to/from online gambling businesses, regardless of where you live or where the casino is located. They consider this a high risk transaction for various reasons.
Neteller, on the other hand, never declines a transaction from a casino.
The only drawback to Neteller is that the company, like other online wallets, charges transaction fees. These aren't unreasonable, but they're somewhat higher than you'd see via a regular bank or credit card service.
How Neteller Works
The first step in using Neteller is opening an account. To do so, you'll visit their site, click on the appropriate button, and provide them with the following information:
- Your email address
- Your location
- Your currency preference
- Your first and last names
- Your address
- Your gender
- Your date of birth
- Your password
- Your preferred security questions and answers
The next step is to fund your account. This is as easy as charging the amount to your credit card, although you can also transfer money to Neteller via bank or wire transfer.
Once your account is funded, you can transfer money to and from anyone else with a Neteller account, including online casinos.