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NETeller Supplies Online Slot Machine Gaming

With the passing of the Internet Gambling Protection Act (H.R. 4777), many thought that it made the playing of online slot machines illegal – however it did not. All it did was make the acceptance of money for playing those slot machines illegal. Same difference? Not quite.

It is illegal for a financial institution within the US to grant credit to an online gaming site, and it is illegal for an online gaming site to accept financial transactions. However, it is legal to play online slot machines if the company you are using is outside of the United States, and it is legal if you are using an offshore account to fund the playing of those slot machines.

The government has been trying for years to shut down a $12 billion online gaming industry, to no avail. First they tried using the Patriot Act saying that it was illegal for them to do business with online gaming sites, needless to say they failed. Instead the online gaming industry created other forms of funding, such as NETeller – a third party financial vendor who supplies money for people to play the slot machines online. All they managed to do was to send the financial institutions somewhere else, so that people could use them there to fund their online gaming habits.

NETeller is not the only source of funding for the online gaming companies, there are many others who can do the same thing – they just do it out of the country so they are not affected by US Governmental laws. Due to the restrictions that the US has placed on their online slot machine players, other countries are looking at their own restrictions as well. Some, such as England, have decided that some restrictions are necessary, but are aware that they will not eliminate online gaming and slot machine playing by passing the same laws, and therefore have decided not to follow suit.

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