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.