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Kevin Smith

NETeller Distances Itself from Touts

30 April 2004

Officials with NETeller have confirmed reports that the alternative payment solution provider is no longer accepting new business from U.S.-based sports handicapping services.

A spokesperson for NETeller told IGN Friday that the decision was made two weeks ago. A rash of recent events surrounding the I-gaming industry, he said, made it difficult for the company to do business with clients based in the States, although he added that no specific incident led to the decision.

The spokesperson also clarified that the policy change "only affects any potential new customers we might have gotten." NETeller will continue offering its services to handicappers who used them prior to the change.

Meanwhile, an ongoing grand jury investigation into the advertising practices of online casinos and sports books has resulted in the subpoenaing of sites that offer both banner ads for handicappers and a handful of handicappers themselves.

The spokesperson for NETeller, which is headquartered in Canada, said the company has not been directly affected by the investigation

He also said that National Sports Consultants, the Florida-based handicapping firm facing federal charges for its involvement with an illegal gambling business, was not a NETeller client.

He added that handicapping services represent a very small portion of NETeller's customer base.

"I couldn't give you an exact percentage, but I can say that it is a very small scale of our business," he said. "This won't have an impact on our ability to grow the business or maintain a healthy bottom line."

The policy change is under review by management and could be rescinded, although no timetable was given for the review process.

NETeller Distances Itself from Touts is republished from
Kevin Smith
Kevin Smith