{"id":20016,"date":"2014-03-28T05:30:52","date_gmt":"2014-03-28T05:30:52","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=20016"},"modified":"2014-03-27T20:27:33","modified_gmt":"2014-03-27T20:27:33","slug":"neteller-return-to-borgata-should-benefit-online-gamblers","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/neteller-return-to-borgata-should-benefit-online-gamblers\/","title":{"rendered":"Neteller Return to Borgata Should Benefit Online Gamblers"},"content":{"rendered":"
\"Neteller<\/a>
Neteller’s e-Wallet capabilities have returned Stateside, and Atlantic City’s Borgata’s teamed up with the payment processor (Image: pokerfuse.com)<\/figcaption><\/figure>\n

Recently we reported on the triumphant reemergence of e-Wallet Neteller to America. Those of you who don\u2019t remember the pre-2006 online gaming landscape might wonder why we got quite so excited about a mere e-wallet – and we wouldn\u2019t blame you.<\/p>\n

But the thing is, Neteller was once synonymous with online gambling, and its return to the e-commerce landscape symbolizes \u201cbusiness as usual\u201d and continuity between past and present. It also represents a practical solution to one of the initial challenges facing the newly regulated sites: payment processing.<\/p>\n

Optimal Return<\/h2>\n

Two weeks ago, Optimal Payments<\/a> – the London-based company behind Neteller – announced that it had secured its return via a deal with an as-yet-unnamed \u201cfederally insured US financial institution sponsor,\u201d and this week Neteller announced it had formed an alliance with the Borgata Casino in New Jersey. Optimal was cleared to offer its services in New Jersey back in October, and has already been active through partnerships with 888, Caesars and Bally Technologies; but now the company has begun offering its e-Wallet solution and Net+ Card debit card as payment options for customers at BorgataPoker.com, BorgataCasino.com and nj.partypoker.com.<\/p>\n

Come Back Neteller, All is Forgiven<\/h2>\n

So, here\u2019s what all the fuss is about.<\/p>\n

It\u2019s been seven years since the enactment of the Unlawful Internet Gambling Enforcement Act (UIGEA) prompted Neteller<\/a> to beat a hasty retreat from the US. Before that, the company had been processing 80 percent of all online gambling transactions on the planet. It was a particular favorite of online poker players, because it was an efficient tool for transferring payments quickly between accounts, and charges were low.<\/p><\/blockquote>\n

However, when UIGEA effectively banned the processing of all online gambling payments – declaring that companies were prohibited from \u201cknowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law\u201d – the game was up.<\/p>\n

That, of course, was before the Department of Justice did an about face on their Wire Act interpretation in December of 2011. After the crackdown, Neteller retreated and was forced to return $94 million in funds to US customers, many of which were frozen for 12 months.<\/p>\n

Neteller now is a Financial Conduct Authority (FCA)-authorized company, which means it\u2019s required to hold more than the sum total of all of its customers\u2019 funds in trust accounts; meaning your money\u2019s essentially as safe as it is in a bank.<\/p>\n

Optimal Strategies<\/h2>\n

Optimal Payments executive vice president of business development Neil Erlick said that the new partnership would \u201csupport their growth in New Jersey,\u201d while Hugh Turner – vice president of finance at Borgata – said the Neteller service would allow them to \u201cincrease conversions while delivering an enhanced customer experience, securely and confidently.\u201d<\/p>\n

And they\u2019re right. For the online gamblers and operators of New Jersey, it should be particularly welcome. Ultimate Gaming execs said this week that payment processing has been one of its major challenges in a state where credit card rejection ranges from 35 percent for Visa to 50 percent for MasterCard and 100 percent for American Express. Thus, as well as the as e-Wallet providing easy deposits and withdrawals, the introduction of the Net+ Card – a low-cost pre-paid credit card linked to your Neteller account – could eliminate this stumbling block and benefit the New Jersey industry as a whole.<\/p>\n

Turner describes the partnership as \u201cstrategically important\u201d. Strategically, it\u2019s just what New Jersey needs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently we reported on the triumphant reemergence of e-Wallet Neteller to America. Those of you who don\u2019t remember the pre-2006 online gaming landscape might wonder why we got quite so excited about a mere e-wallet – and we wouldn\u2019t blame you. But the thing is, Neteller was once synonymous with online gambling, and its return […]<\/p>\n","protected":false},"author":42,"featured_media":20028,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,13],"tags":[],"acf":[],"yoast_head":"\nNeteller Return to Borgata Should Benefit Online Gamblers<\/title>\n<meta name=\"description\" content=\"Payment processor Neteller returns to the US to provide e-wallet and Net+ Card debit card for New Jersey online gamblers and pairs up with Borgata.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neteller Return to Borgata Should Benefit Online Gamblers\" \/>\n<meta property=\"og:description\" content=\"Payment processor Neteller returns to the US to provide e-wallet and Net+ Card debit card for New Jersey online gamblers and pairs up with Borgata.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/neteller-return-to-borgata-should-benefit-online-gamblers\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-28T05:30:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-03-27T20:27:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2014\/03\/neteller-online-payments_orig_full_sidebar.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"608\" \/>\n\t<meta property=\"og:image:height\" content=\"456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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