Neteller’s latest results have shown how lucrative an association with the online gambling industry can be. The latest figures from the online gambling e-cash processor reveal that an estimated 2.6 million users rely on the service to make deposits of $4.7 million each day.

The financial services company, which is registered in the Isle of Man, is widely used to conduct transactions for online casinos, and its first quarter results for 2006 confirm Neteller’s hold on the gaming world.

No less than 3, 609 new users signed up every day during this year’s first quarter, while the total number of customers at the end of the quarter totaled 2.6 million. The firm’s total revenues increased by 69 percent on the same period last year to $57.9 million dollars. Gross margins were also up by 73.5 percent.

Neteller currently operates its site in English only. However last week, the company announced its intentions to expand across Europe. Local language sites and Euro payment options are planned, along with a 24-hour helpdesk facility in a variety of languages. Neteller has also penetrated the lucrative Asian market and provides services to Asian fans using a new Java platform. Its English language site has over 3,400 registered merchants across 160 countries.

Back to May 2006 Online Gambling News
Back to latest Online Gambling News
Back to Online Gambling Archive