I'm still using Neteller without any restrictions. I've transferred money both ways since the bill was signed, and even used InstaCash.
As I understand it, banks are going to have a hard time blocking Neteller because it does not accept "bets or wagers...". It has about 3500 other vendors, non gambling, and is much like Paypal and the others.
Also, the paper trail is somewhat being ignored. Banks are saying it is impossible to look at every check processed (manually look) and determine if it is from a gambling site. Therefore, "if" that is all true (as Dr. Rose the gambling guru on legal issues says). Neteller at worst, will send you a check when you want a withdrawal. I am sure they will find a way for us to fund to Neteller also.
The other obvious solution... Canadian banks will start popping up all over the internet. They will offer U.S. residents accounts. Neteller can then either take or deposit into that account. The player would then just write a check out of their Canadian bank account. Or, send the Canadian bank a deposit when they want to fund their account.
Seems logical to me... that's all assuming the law stays intact. My opinion (worth about .25 cents on the open market) is that once the November elections are over, that the new congress, probably made up of mostly newly elected Democrats, will "adjust" the bill and find a way to regulate it (and collect money), and put some kind of "tranfer tax" to these gaming sites..
I will get off my soap box now..  |