The Poker Lab Rat

Whether you’re a professional gambler, enjoy the challenge of online poker or like to try your luck at casino games you may be one of  the millions of US residents who have just received emails advising you to either withdraw your funds or find alternate payment methods to fund your account.

Payment processors Neteller PLC and British Columbia-based Citadel Commerce Corp. are the latest and largest organisations to pull out of the lucrative but now illegal U.S. online gambling market.

Industry observers are predicting that other e-wallet options will come forward to replace Neteller but as Kishan Nielsen of Red Card Media states “no immediate heir is apparent and it seems unfortunate that Americans will soon end up dealing with the bastard child rather than legitimate and proven providers such as Neteller or FirePay”.

Neteller is said to have processed $7 billion (€5.4 billion) in transactions in 2005 and $5.1 billion (€3.9 billion) in the first half of 2006, mostly from U.S. clients to and from online betting sites. U.S. commentators have suggested that this equates to roughly half of the global market for online wagers but Mr Nielsen is confident that “Asian and European markets are somewhat under represented in any such calculation with gambling an integral and accepted part of many non-American cultures”.

Kishan has been a major advocate for regulation rather than prohibition as the right way forward for the global gambling industry and considers the US stance both arrogant and ignorant of the risks to which it exposes its people.

SO HOW CAN US PLAYERS NOW FUND POKER ROOM OR CASINO ACCOUNTS? 
Unfortunately it is easier to outline the payment methods for most American residents. These include the following:
·Nexum
·Central Coin
·Neteller
·Neteller InstaCash
·Citadel
·Instadebit
·Echeck
·Moneybookers
·FirePay
·PayPal
 

WHAT’S LEFT? 
ePassporte, ATMonline and Click2pay may still be viable e-wallet options for US bettors.

Some online gambling sites are promoting the continued use of credit cards (Visa and MasterCard) but in reality this is getting more difficult as banks move to implement measures to comply with the Act.

Web sites offering to facilitate the establishment of offshore bank accounts for US residents have sprung up along with some less than credible suggestions for ‘token based gambling’. Under the token system you play for prizes rather than money and cash in your prizes at other (unrelated) web sites.

Prepaid Visa Cards or Gift Visa Cards could also potentially provide a solution - or even an interim solution until another web wallet option fills the void left by Neteller (and, like many in the industry, we are confident that it will).

Prepaid cards work just like any bank issued debit or credit card except you do not need a bank account and a credit check is not necessary. You can purchase goods or services with them wherever VISA is accepted. Prepaid cards can be purchased and reloaded locally at bricks and mortar outlets throughout the USA. There is no limit on the amount of times a card can be reloaded.