NETeller ceases Israel gambling transactions

Uncertainty about the state of online gambling in Israel has led NETeller Plc to announce that it will not process online gambling transactions from people living there in future.
The move follows a decision last month by a Tel Aviv court to uphold the ruling of a lower court that said gambling sites that targeted Israelis were illegal, even if based abroad.
The court said: "...any company operating a gambling website that targets Israelis is breaking the law, no matter if the site is run from abroad and if the company is registered outside Israel."
“Recent legal developments have increased the uncertainty regarding the legality around certain activities related to online gambling in the Israeli market,” a statement from NETeller said.
“The company has, therefore, concluded that the group will no longer process transfers related to online gambling sites on behalf of Israeli resident customers.”
It is a familiar scenario for the Isle of Man based e-wallet, which had to take similar action when the US banned online gambling. However, Israel residents may continue to use the service for financial transactions which are not related to gambling.
“The Israeli business of the group does not represent a material proportion of the group's overall customer base, revenue or profitability,” the statement said.
NETeller has assured customers in other parts of the world that they will not be affected by this latest development.
Victor Chandler, the company involved in the Israeli court ruling, was one of the most popular internet gambling companies in Israel with yearly payouts of over $16 million.

Casino News: NETeller ceases Israel gambling transactions

NETeller ceases Israel gambling transactions