Betting using Neteller

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Published: 29/09/2011

In order to make financial transactions with customers, Internet-based casinos, bingo clubs, poker rooms and bookmakers now offer plenty of options. Even so, some methods may be limited to a single currency, while others that can be used for making deposits may not be available when it comes to withdrawals.

Additionally, major credit cards sometimes require pre-authorization or must go through a time-consuming approval process. It comes as no surprise, then that more and more online gaming services are offering virtual banking options such as Neteller.

Founded in 1999 and based in Cambridge, England, Neteller (UK) Limited offers a free “e-wallet” payment system that permits money to be transferred over the Internet, both to and from some 180 countries worldwide. The company is owned by Optimal Payments Plc, which moves and manages billions of dollars each year from its base in the Isle of Man. Part of Neteller’s appeal is its broad acceptance.

Indeed, Neteller is arguably the most widely disseminated online transaction service in the world among online gaming operations. Currently, some 1,803 gaming sites accept the service for deposits, withdrawals or both, and of those fully 1,707 use English as their primary language. Among them are most of the major Internet-based casinos, such as Bet365 Casino, 888 Casino, BetFred Casino, EuroGrand, Unibet and Party Casino, to name just a handful of the leaders.

For Poker players, PKR, Bet365 Poker, Party Poker, PokerStars and Poker Kings lead the way in Neteller acceptance, while Bet365 Bingo, William Hill Bingo, JackpotJoy, BetFred Bingo and 888ladies are among the top choices for Bingo players. Race and Sports Books that accept Neteller include Bet365, SportingBet, Expekt, myBet, SkyBet Sports and most of the other big names among online bookmakers.

Neteller takes pride in being safe, fast and free to use. Customers can register for a free Neteller account and then add funds to the account directly from a bank account or credit card. Users may then transfer funds from their accounts to selected Neteller casinos or sportsbooks to pay for wagering.

It should be noted, however, that there are some restrictions on the countries from which financial transactions are allowed. Following the arrests of Neteller’s co-founders in early 2007, Neteller pulled out of the U.S. market entirely and subsequently halted the processing of gambling transactions from Canadian accounts as well. Europeans, by contrasts, remained unaffected by this change.

Among Neteller’s products are a Net+ Prepaid MasterCard and a Net+ Virtual Prepaid MasterCard as well as the stored-value Neteller eWallet and its associated Money Transfer service, which provides a fast, simple and secure way to send money instantly online. Whenever transactions are funded by credit card, security is ensured by the use of 3-D Secure through Verified by Visa and MasterCard SecureCode. The former requires a unique user-generated PIN be entered each time an online payment is made.

Regarding fees, whether adding money to the eWallet account, depositing funds to a gaming account, or taking money out as a withdrawal, Neteller strives to offer low-cost options that won’t break the bank. Funding methods such as Bank Transfer, Maestro Debit Card, Visa Debit, Visa Electron, Euteller, PostePay, Sofort and POLi are free of charge. Others, including Visa and MasterCard credit cards, PaySafeCard and Ukash, require surcharges that can vary from 0.5% up to 1.75%, depending on the method employed.

Those who are conducting transactions in currencies other than U.K. Pounds, U.S. Dollars or Euros should be aware that additional fees may apply. In fact, for all transactions involving currency conversion, a 2.5% margin is added by Neteller to the average daily interbank market rate published by a third-party foreign currency data provider.

That said, it is difficult to find any financial operation that charges much less for its services. And in terms of flexibility, acceptability and ease of use, Neteller truly stands out as a transaction method for online gaming activities.

Published on: 29/09/2011

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