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Online Casino Conditions >>> Betting News >>> September News


Neteller Positions Itself as a Leader in Online Casino Payments

Online Casino Conditions Staff
September 20, 2006

The leading third-party facilitator of online casino merchant transactions, NETeller, has reported (as deemed by interim financial findings) a sixty-three percent increase in overall revenue for the first half of 2006, as compared to the previous year. With increased spending due to a thriving online gambling industry, greater demand for eWallets and increased company expansion, profit margins were not as high, albeit they were still up forty-three percent from the same time frame in 2005.

Neteller, which bills themselves as an online payment company is one of the most heavily favored payment methods used at the best online casinos of today. At one time considered an "alternative payment method", it is now more apt to refer to Neteller as a payment method of choice for millions of online gamblers. Having processed over $7.3 billion in online betting revenue in 2005, and with these numbers inevitably increasing for the current year, the figures speak for themselves regarding Neteller's place in the multi-billion dollar industry of online casino gambling.

Other figures for the first half of 2006 include total incoming revenue of $119 million and $58 million in pre-tax profits, which according to Neteller Chief Executive Officer, Ron Martin, will be at an even greater percentage ratio as the company's "Deepen and Extend" strategy takes effect and new technological developments not only improve the quality of Neteller's service, but also make it available to a larger sector of the global online casino and betting industry. Furthermore, Neteller can be used for far more than placing real money wagers at internet betting sites, which could very well become a prospective marketing effort of this well-endowed company.

Having more draw for both customers and online gaming merchants, Martin says that despite uncertainty regarding regulation of online casinos and gambling sites, Neteller is still benefiting from a thriving market by directing its services away from the North American market (at least until legalities are finalized once and for all) and into primary markets such as those of the regulated UK, as well as the rest of Europe, and an Asian industry beaming with great potential.

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