Neteller at online 7Bit Casino
Neteller has been working with online casinos for many years. In 2005, more than 80% of all online casino transactions were made through this payment system. Although this figure has declined since the advent of other services, the company is still the leader in electronic payments. The only brand that can surpass Neteller’s numbers is Skrill, which is supported by a large number of casinos. Neteller is available in more than 100 countries around the world.
Neteller belongs to the Paysafe Group, a company with a lot of experience and a good reputation that specializes in electronic payments and also owns Skrill and Paysafecard. Both services have their fans, and lists of the best Skrill and Paysafecard casinos can be found on our website. Our online 7Bit Casino that accepts Neteller, users can deposit quickly. An impeccable reputation and convenient services are the main reasons why Neteller is so popular among online casinos.
Neteller history, brands, and acquisitions
Launched in 1999, Neteller was one of the first electronic wallets in the world. It was headquartered in Canada but moved to the Isle of Man in 2004. That same year, Neteller received about $70 million in an IPO and became a public company.
Note: In the early 2000s, 95% of the company’s revenue came from online casino transactions.
In 2006 and 2007, bans on casino-related remittances from U.S. and Canadian citizens came out. Neteller tried to shift its focus from gambling and diversify its services. However, this decision was not successful, and the company’s revenue dropped from $239 million in 2006 to $61 million in 2010.
Neteller made several important acquisitions and changed its name several times. In November 2005, the company acquired Netbanx Ltd, and in 2008 it changed its name to Neovia Financial PLC. A few years later, the brand merged with Optimal Payments under its name.
The biggest deal, however, was the purchase of Skrill in 2015. Around the same time, the brand was renamed Paysafe Group. The former Neteller PLC lasted until 2017, when it was acquired by the Blackstone Group and CVC Capital Partners consortium. However, this acquisition did not lead to another rebranding. Since then, Paysafe is no longer traded on the London Stock Exchange under its own name.
Note: In 2003, the company issued its own NETELLER Card, and in 2008 renamed it Net+. Under the Net+ brand, the company offers prepaid MasterCard debit cards, proprietary card programs, and pre-existing virtual cards.
Today, Neteller is the company’s main product along with Skrill. Other Paysafe services include Paysafecard prepaid cards, Payolution e-commerce app, Fans Entertainment service built for mobile commerce, and affiliate marketing provider IncomeAccess.
Neteller is currently one of the most common payment methods at online casinos, our online 7Bit Casino accepts Neteller is no exception. In the world of e-wallets it is even called “PayPal online gambling”, referring to its huge popularity in this area.
Pros and cons of Neteller as a means of payment in casinos
Neteller 7Bit Casino online Australia players have favored Neteller for many years with good reason: this service has a number of important advantages. The e-wallet is very easy to use and offers players favorable deposit and withdrawal terms. Let us list some of the arguments in favor of using Neteller for payments in casinos:
- High level of security. Users do not need to provide their card details online 7Bit Casino Neteller. All Neteller transactions are SSL-encrypted and can only be made after two-step authentication if the user wishes.
- Quick withdrawals. Unlike bank transfers, which can take up to several days, withdrawals from Neteller usually take no more than 24 hours.
- Anonymity. Banks are believed to be biased against customers making transfers to and from online casinos. Banks may even reject your application for a loan. If you use Neteller as a means of payment, however, your casino transaction data will not be passed on to your bank.
- Additional 7Bit Casino Neteller bonus. Our Neteller-enabled online Casino offers certain bonuses to its players and users of this payment method. However, this doesn’t happen very often and mostly applies to newly opened casinos.
Neteller or Skrill
Skrill and Neteller belong to the same company and offer their users a high level of security and convenience. Nevertheless, they have some differences in the available online 7Bit Casino Neteller deposit options, commissions, and currencies.