Who wants to be a billionaire? The E-Wallet race has started

[Dr. Jack]

Who wants to be a billionaire? The E-Wallet race has started
Dr. Jack, CappersMall.com

Online sportsbook and poker operators have been scrambling since last weeks announcement that NETeller would withdraw from the US Market leaving many operations in a pinch and struggling to find ways to transfer money between the player and the operator and the operator and the player.

The NETeller situation has caused a domino effect with other processors also withdrawing from the US Market. Sources have told CappersMall.com that these are not decisions being forced upon everyone. No one is making them shut off the US but they are playing follow the leader without any more information on what it all means.

When President Bush signed the UIGEA, Unlawful Internet Gambling Enforcement Act of 2006 in to law in October of 2006 it was stated the government would have 270 days to setup guidelines on how this would be enforced. To this date this still has not happened but some processors are assuming if NETeller goes they are going to follow. Professor I Nelson Rose who is recognized as one of the world's leading experts on gambling law said this, "Federal regulators have 270 days from the date this bill is signed into law to come up with regulations to identify and block money transactions to gambling sites. At this writing, President Bush had not yet signed this bill, but he will. So the regs will go into effect by the beginning of July 2007."

This has not stopped some of the processors such as My Citadel to blindly follow NETeller and stop catering to US citizens. There have been several new or unknown E-Wallets popping up over the last several days. Some of them have also pulled out of the US market while others are realizing they are in over their heads and could not possibly handle all of the transactions on the way if they should succeed.

The official race has already begun. Besides all of the little E-Wallet's that will try over the next few months, behind the scenes is the real race. They could make a TV show out of this story "The Next Great Race" or how about "Who Wants to me a Billionaire"? Several sources have told CappersMall.com that there are some major players in this race to be the next billionaire and the next NETeller. Privately, experts are predicting that there will most likely be a minimum of two major players releasing their version of the new E-Wallet. Ultimately the gamblers will be the deciding factor on which system will be the one to replace NETeller. Just like a few years back when a young NETeller came on the scene and was a basic unknown. Now you do not gamble and not know who NETeller is.

You can probably bet on a few things happening with this new E-Wallet. First the owners will not be US citizens and probably will not be the type who spends a lot of time if any within the United Stated. Second the owners will not be a company that goes public. This will be a private owned company who knows exactly what they are getting in to with specific goals to be the next billionaire and the next NETeller.

So the race has started and now we wait to see who crosses the finish line first!

[Seanie Mac]

Several sources have told CappersMall.com

lol

[Dr. Jack]

You like that Sean?

I did this article/info for another site thus the reason to plug CM

[verdict]

youteller?

[guitarjosh]

I usually post at the big forum across the street, but I'm glad I found this place with all it's info like this. Over there you would have had 50 people posting why this would or wouldn't work and where they plan on moving to continue to gamble.