The clock is ticking for NETeller

NETeller recently confirmed that they are staying in the US market, at least until the US implements the provisions of the UIGEA in July 2007. Realistically, there will need to be a major shift in the United States Congress to allow NETeller to continue operating under its current business model in the United States. By major shift, I mean something on the order of a repeal of the UIGEA, which is unlikely.

One possible scenario that I can see is that the regulations that are implemented will contain a loophole through which NETeller will attempt to squeeze through. History suggests that most regulations of this nature do contain loopholes that are exploited by interested parties, and there is little reason to think that the UIGEA regulations will be an exception. Once NETeller attempts to squeeze through the loophole, litigation may follow (although I can’t imagine what jurisdiction would hear the case).

We’ll all have to wait and see. In the meantime, game on!

By the way, if you are a US player and recently go kicked out of your casino or poker room (like I did), I got your back. Here is a list of online casino and online poker sites that continue to accept US-based real-money players. Fight the power.