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Neteller Providing Services to 85% of UK Bingo Providers

Posted on June 4th, 2010

Neteller is a popular Ewallet service that is used by millions around the world to purchase goods and services on the internet. Neteller is regulated by the Financial Services Authority (FSA) in the UK. Neteller offers accounts in most major currencies and accounts can be set up for free on the Neteller website. Internet bingo providers in the UK love the convenient services provided by Neteller and funds about 85% of all UK based internet bingo accounts. According to research by Mintel, the London based market research firm, there are about 3.5 million internet bingo players in the UK and 20% of these players are 18-24 years old which overlaps with the age group of typical Neteller members.

Neteller runs electronic identity and anti-impersonation checks on consumers signing up for a new Neteller account which allows internet bingo providers to provide instant access for those with Neteller accounts. Neteller is operated by NEOVIA, a leader in the alternative payments industry. Ewallet services like Neteller allow bingo players without a credit card the ability to find online bingo accounts and withdraw winnings. Online bingo players can apply for a Net+ card and can withdraw their winnings at most ATM’s located throughout the UK. The Net+ card can be used at over 30 million MasterCard locations worldwide. Chief Marketing Officer for NEOVIA, Dan Starr, stated, “We have already been the de facto standard alternative payment provider for the Sports, Poker and Casino gaming industries for the last ten years. With this news, we can add bingo to that list.”

Unfortunately, thanks to draconian anti online gambling legislation passed in 2006, US based online bingo players cannot use the services provided by Neteller. In 2007 the US Department of Justice arrested the founders of Neteller while they were travelling in the United States and both men were forced to pay million in fines. Shortly afterward Neteller withdrew from the US market and currently does not provide services for US players.

Internet bingo providers are using alternative payment systems more and more to provide better service to customers and to increase revenue. The instant liquidity offered by Neteller is popular with bingo players and provides a competitive edge for bingo sites using Neteller. Neteller is safe and secure and 100% of all customer funds are held in trust accounts for instant access by customers. Since Neteller is providing payment services to 85% of all UK bingo operators it is obvious that the company is doing something right!

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