Beginning yesterday, the internet gaming industry's largest payment and withdrawal processor, Neteller, has opted to cease transferring U.S. funds to and from online casinos. In what will likely have a huge impact on the industry, hundreds of thousands of U.S. players will not be allowed to transfer previously accrued winnings from their online casino and gaming accounts. Nor will these players be able to make deposits with a Neteller account to websites engaged in internet betting.

A wave of panic has already begun, resulting in a bombardment of telephone calls and emails to the Neteller support center. Due to the surge in player queries, responses are not as fast as normal, which in turn, is causing some players to question whether their accounts are safe and funds are liquidated.

According to a statement on Neteller's website, current funds in a player's Neteller account are indeed safe and free from holds. They can be withdrawn at any time and can also be used for web purchases at non-casino gaming sites. It may take longer for payments to be received, however. The only down side, again, is that U.S. players will not be able to use their Neteller account to transfer winnings from their gaming accounts. Players can still receive their winnings through certified, mail-delivered checks from the casinos themselves.

Some of the questions that players are asking at this time is whether withdrawal requests made prior to the announcement to cease transferring U.S. gaming funds will still be processed. Upon hearing the news that Neteller's founders (no longer with the company) were arrested and charged with money laundering, several players began scrambling to do so, resulting in a large mass of withdrawal requests and questions.

Players who are affected by this news are advised to visit Neteller' website and read their FAQ page regarding the latest news. By no means should this news reflect poorly on Neteller's credibility and reputation with their account holders. This matter is strictly between Neteller and the U.S. government, and in no way ties Neteller to illegal activities of any kind (other than what the U.S. DOJ may believe).

Not a single Neteller account has been compromised, thus warranting our recommendation for all players to continue holding Neteller as a highly trusted and secure payment processor. Services for gambling funds simply cannot be used any longer by U.S. players. For a list of several compatible eWallets currently in operation, please visit our NETeller Alternatives.

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