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Neteller is one of the most popular e-wallets in the world and an increasingly good option for depositing at legal online casinos.
Neteller has once again opened up its platform to regulated operators, after cutting off gambling-related transactions for several years. Many legal, licensed online gambling sites now make use of the service.
Below are some of the basics about using Neteller in connection with online gambling.
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Neteller began processing payments for regulated US operators in 2013. Since then, it has reestablished itself as one of the go-to services, employed by nearly every legitimate site. Pairing a regulated industry with a reputable payment processor was one of the keys to legitimizing the infant iGaming industry.
The list of Neteller-friendly online gambling sites continues to grow, and it includes:
For both commercial transactions and those involving online gambling, Neteller remains one of the largest e-wallets in the world.
Using an existing balance is arguably the easiest way to deposit to a poker room, casino or sportsbook. But if you’re starting with an empty Neteller account, there are two quick ways to fund it.
The first involves using a Visa credit or debit card to deposit funds. Although these transactions are fully legal under US law, some payment institutions will still reject them.
Fortunately, Neteller also offers the Net+ prepaid card to help grease the wheels. Here’s the recommendation from its website:
Net+ is the best way to transfer funds to your favorite regulated gaming sites.
With higher acceptance rates than other cards, a host of security features to protect your personal information and the ability to cash out to the Net+ account from regulated Gaming Sites, Net+ is your best bet.
The Net+ card boasts come one of the highest acceptance rates in the industry.
No. Players must create a Neteller account if they wish to use it as a deposit method. It’s a simple process that only takes a few minutes.
It’s also worth noting that some online gambling sites require the user account and Neteller account to be registered with the same e-mail address.
Neteller funds can be withdrawn directly into the user’s bank account or transferred to another user or merchant. The site also offers the Net+ card that may be used at most retailers and ATMs.
Neteller may only appear as a withdrawal option once a deposit is made using the service.
Online gambling sites typically do not charge a fee, and there is no Neteller fee for using an existing balance.
Neteller does charge a 2.5 percent fee for Visa transactions, though, and there is a range of fees associated with the Net+ card, too. In addition, Neteller adds fees to some withdrawals on the back end.
Yes. Neteller has a reputation as one of the very safest e-wallets. It’s arguably safer than using a bank account directly, as it provides an additional layer of security between the gambling site and the player’s financial information.
Neteller is one of the most popular e-wallets in the world, available in the majority of countries that offer online gambling.
Gamblers in regulated US markets can use Neteller for transactions, too, and it’s an option for horse betting sites where permitted.
Neteller only permits gambling transactions in jurisdictions where it is licensed, like Europe. Online gambling sites in Nevada, Delaware and New Jersey are also permitted to use Neteller as a payment option.
Neteller does not transact directly with these two DFS sites, but the Net+ system can be used to fund accounts just like any other card.
Yes. Neteller was once the primary e-wallet for offshore gaming sites that accepted US players. This included poker, casino, and sports betting, processing these payments until 2007.
Amid legal pressure, though, the company ceased facilitating all US gambling transactions for a time.
Neteller was the original Goliath of online payment processing, launched way back in 1999.
Beginning in 2000, it became the top choice for online poker players looking to move money. At one point, it was reportedly handling around 80 percent of all worldwide iGaming transactions.
The gambling segment also represented nearly all of Neteller’s revenue, which became a big problem in 2006. The US government enacted the UIGEA that year, truncating the financial pipeline between gamblers and unregulated sites.
Neteller agreed to comply with federal restrictions, and it left the US market in 2007.
The birth of the US iGaming industry opened the door for Neteller once again.
In 2013, the company was approved to issue payments for New Jersey online casino sites. Regulations provided a clear framework for both operators and financial institutions, allowing money to flow freely once again.
Caesars/888 adopted Neteller’s services the following year, and almost everyone else has followed suit. Golden Nugget and Borgata are among those which now use Neteller, as are all regulated online poker sites in New Jersey.