According to a complaint unsealed Tuesday against two founder of NETeller.com, a publicly traded third party cash processor catering to the online gambling industry, an investigation into the company was begun prior to laws passed in the US that attempt to curb some forms of internet gambling.
Lefebvre and another man, Stephen Lawrence, were arrested Monday morning on opposite sides of the US.
While many companies panicked and pulled out of the United States following the signing into law of this act, Gambling911.com has long pointed out that the US Justice Department always considered certain activities illegal and that the passage of this new law would do little to change this stance.
The Unlawful Internet Gambling Enforcement Act of 2006 requires banking institutions to monitor internet gambling transactions. The banking sector has claimed they do not have the necessary means to do so. The law was tacked onto a Port Security Act and written hastily by politicians with what many believe to be ulterior motives (i.e. horse racing was exempt from the new law as were state lotteries).
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Neteller has Already stopped Instacash transactions, so this is not good folks.
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I agree with the legislation which aims to ban credit cards as a payment method for online gambling of any sort... and i think it should be enforced worldwide – not just in America. In fact, gambling with a credit card should be banned full stop. Not just on the internet. It’s a no brainer when you consider you are placing backing the outcome of an uncertain event with somebody else’s money. Chance and credit do not mix well in my opinion, and continuing to allow it would only contribute further in negatively affecting the high levels of personal debt many citizens today find themselves in. I do however, think that the prohibition won't work; or at least it won’t be received well amongst gamblers - I mean what’s the point in banning a credit card payments made on an online poker game, for example, but not online sports betting? Slightly hypocritical no? I mean how can you allow someone to participate [with or without a credit card] in online horse racing betting, but not put any money on a hand of texas hold’em poker? both activities involve a large degree of chance, and neither are guaranteed to yield financial return.
What really infuriates me is that the minority of irresponsible gamblers [those paying with someone elses money!] have now ruined the fun of online betting for everyone else - those like me who pay with money they actually have in their bank!!
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