Articles

Neteller top dog for payouts

Financial transaction merchant Neteller has reported that it is processing deposits of around $4.7 milliona day on behalf of online casino websites.

As the online gambling industry booms, Neteller has witnessed its annual profits saw, with an estimated 2.6 million people now using the service.

The company's total revenues soared by 69 per cent over the first three months of 2006, compared with the same period last year, to $57.9 million, with gross margins soaring by 73.5 per cent.

Neteller receives and processes e-cash payments and payout for the online casino industry and witnessed growth of around 3,609 new subscribers a day during the first quarter of the year.

The website operates in English, but Neteller has unveiled expansion plans for the rest of Europe, with a range of local language sites and support services currently in development.

The Neteller English language site has more than 3,400 registered merchants in 160 countries.