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Thursday, October 12, 2006 

Neteller Committed to Staying in the U.S. Market

This may be old news to some...but this is very encouraging news for me and my little world of poker...

Pulled from PokerNews.com

October 12, 2006
John Caldwell

The passage of the Unlawful Internet Gambling Act sent shockwaves
through the online poker industry. Reactions ranged from 'the sky is
falling' to 'all is well' as the industry analyzed the language of the
bill, looking for what the true impact would be.

As time went on, and it became clear that the core emphasis of the
bill was to prevent U.S. banks from taking gaming transactions. This
fact made the big question – What are Neteller going to do?

Neteller is a company that provides financial transactions between
consumers and third party vendors via the Internet. Most people that
play poker online have Neteller accounts, and a great portion of the
transactions that occur between players and online poker sites occur via Neteller.

Most players have had trouble in the past trying to fund via their
banks long before the bill was even introduced to Congress, so Neteller
has become a way of life for many online poker players.

So, if U.S. banks are forced via this law to stop taking gaming
transactions, companies like Neteller would be a player's only recourse
if he or she were to want to continue playing.

It is a great relief to all in the business that Neteller's
Executive Vice President of Sales and Marketing Bruce Elliot told an
audience of online gaming executives in Barcelona yesterday.

"We are staying in the U.S. I don't think we have a problem."

A PokerNews.com executive who is at the conference confirmed the
news, and spoke to another top Neteller executive who confirmed "We are
completely committed to the U.S.".

The last two weeks have been a dizzying ride for most people in the
online poker business, but the news over the last few days has mostly
been positive toward the continued survival of the business. By no
means is online poker 'out of the woods' with respect to possible
troubling times ahead, but the commitment of Neteller to the U.S.
market will put player's minds more at ease.

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