Neteller pulling out as well?

[Reel Deal]

Ugh.

[Quint]

Since they are a publicly held company (did not know this, previously) they probably don't have much choice. I have no doubt that another, privately held option will become available. Just a pain in the ass more than anything. t least neteller is going to wait as long as possible to change their policy.

[Aequitas58]

Unreal.

[Zybomb]

What about Epassport?

[BrianSwa]

there fees are pretty crappy not to mention not all sites have this option, of course that might change if neteller goes away.

[Reel Deal]

Yes, they have a choice. The law forbids someone in the business of betting and wagers from accepting money from someone in the U.S. For starters, Neteller is not in the business of betting and wagers and second, they're not based in the U.S. so they are not required to comply with this law in any way. They simply cannot be touched by this law. If they shut off U.S. customers that will be a horrific business decision.

[Quint]

I am by no means an expert in this field, but isn't this similar to why the publicly held poker sites folded so easily, or in the case of UB sold out to a private company? Something along the lines of not knowingly breaking the laws in the jurisdiction where the company resides.

[lightfungus]

Wouldn't this mean we are doomed to horrible fees? I don't even know how to get money online without neteller or directly from the bank...

[GeoffM]

Could always get a Canadian/Euro/non-Yank to do it for you and paypal the money on the side

[Penguinfan]

If only I knew a Canadian, shit.

[Reel Deal]

No, because they're not in the business of betting and wagering so the law doesn't apply to them (unlike a poker site) and they are not in the jurisdiction so they can't break the law. For them to even consider shutting out U.S. customers is just moronic. The only reason I can think of is they're getting pressure from investors that don't understand the law.

[Quint]

Gotcha!

I'm sure it'll all work out in the end.