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Casinos> 2007
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Neteller To Withdraw From Israeli Market
Legal uncertainties given as the reason
In a seperate press release, Neteller announced that it will no
longer process transfers related to online gambling sites on behalf
of Israeli resident customers.
Recent legal developments have increased the uncertainty regarding
the legality around certain activities related to online gambling
in the Israeli market, the company statement informs, adding that
management has therefore concluded that Neteller will no longer
process transfers related to online gambling sites on behalf of
Israeli resident customers.
This voluntary and phased withdrawal of payment services will be
executed in line with the following timetable:
Neteller will cease processing transfers to online gambling merchants
for Israel-resident customers with effect from 12.01 a.m. GMT on
Thursday 19 July 2007.
The e-wallet will cease processing transfers from online gambling
merchants to Israel-resident customers within two weeks, with effect
from 11.59 p.m. GMT on Tuesday 31 July 2007.
Non-gambling related services will not be affected, and Israel-resident
customers will be able to continue to use their e-wallet account
for any non-gambling related money transfers and withdrawals.
Local funding options for the Neteller e-wallet will continue to
be available to Israel-resident customers.
The statement stresses that customers located in other parts of
the world are not affected by this change, and will continue to
receive Neteller services in the normal manner.
"The Israeli business of the Group does not represent a material
proportion of the Group’s overall customer base, revenue or
profitability," the statement concludes.
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