Neteller Casinos

When a brand new concept becomes popular, it is not too long before many imitators and similar services pop up. So was the case of PayPal. PayPal swiftly became the most popular method of transferring money to pay for goods and services on the internet. Plenty of similar companies swiftly started up, and although most of them immediately floundered, two became very successful. One of these was Skrill, and the other was Neteller.

Although not as widely accepted as Skrill (not that the same company owns Neteller mind as both Skrill and Neteller – Paysafe Group) there is a massive presence at online casinos available to jurisdictions around all four corners of the globe.

A Brief History of Neteller

Originally a Canadian company, Neteller was first set up in 1999. Unlike PayPal, which concentrated on online auction sites and eBay in particular, Neteller concentrated on online gambling sites. After only one year of operation, it was estimated that Neteller facilitated almost nine out of every ten online gambling payments.

The company chose to leave Canada in 2004 and moved to the Isle of Man in 2004, home to both Microgaming and Playtech. It suffered its first major blow in 2007 when restrictions were placed on the US market, which saw the company’s revenues drop by three quarters. Neteller soldiered on with the US online gambling until 2019 when it finally decided that enough was enough.

In 2011, Neteller owners rebranded themselves as Optimal Payments although they kept the Neteller name for the eWallet payments services system. In 2015 they made a massive purchase, buying rivals Skrill for over €1 billion. Skrill were already the owners of Paysafecard with whom they had recently merged Ukash with.

Later in 2015 Optimal Payments rebranded themselves as the Paysafe Group, and were now the owners of three high tier eWallets and eVouchers  – Skrill, Neteller and Paysafecard.

Neteller – Pros and Cons

Pros

• Easy to use
• Only a few steps needed to open a Neteller account
• Readily accepted by many online casinos.
• Safe and secure

Cons

• Not every online casino will allow Neteller payments for bonuses.

How to use Neteller at Online Casinos

If you do not currently have a Neteller account, you will need to open one to use it at any online casino that you might wish to. Opening a Neteller account is free and very simple to complete. Go to the Neteller site and select ‘Join for Free’. You will need to enter your name, country of residence, chosen currency and email addition, plus you will need to select a password. Click the ‘Register’ button when all this is done.

You will then be sent an email to the email address you entered in the step described above. You need to click on the link sent to you to verify your account.

The next step is to transfer funds into your Neteller account. The most common way of doing this is via linking a bank account, debit card or credit card. You can also use several other payment providers, such as iDeal, neoSurf, Boleto and Multibanco. Just use the payment services provided to get money into your Neteller account.

Next, head to the cashier section of the online casino to which you wish to make a deposit. Open up the cashier and choose Neteller as your funding source and select the amount you wish to deposit. Once completed, confirm the transfer and your money should be in your casino account with a few minutes.

Withdrawing is basically the same process except that, of course, you are transferring money to your Neteller account and not from it. It can take longer too. The best online casino allows you to withdraw money as quickly as depositing, but it will take a minimum of three days and sometimes even longer in most cases.

Please be aware that all Neteller transfers will cost you a processing fee of around 2.5%.

Conclusion

Neteller is not as popular as Skrill at online casinos (and elsewhere for that matter) for one main reason – those high fees. Both PayPal and Skrill charge less, which means they own the lion’s share of the online casino eWallet market.

There may be reasons why you’d want to use Neteller at an online casino despite those fees, such as Skrill and PayPal being unavailable in your jurisdiction. The good news is that using Neteller as an eWallet is a simple process and it’s easy to get money into your casino account and out if you win!

Remember, no matter how you get money into your online casino account, you should always practice responsible gambling, which means never gambling with money you cannot afford to lose.

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