Hacker News Reader

Comment by stuki | Hacker News Reader

After the whole NETeller debacle, I would be wary of association with anyone providing service to online betting shops. http://www.wnbc.com/news/13656319/detail.html?subid=10101421

View on HN

That was the US goverment's screw up and that had terrible consequences for many startups, even outside of gambling.

Blame those who caused this, not the companies.

It was not the US Government's screwup, it was the Neteller founders' for coming to our country. Had they had the common sense to remain overseas the whole debacle would have been avoided.

Regardless of where you stand on the issue (and I'm obviously as pro-gaming as they get, since I made my living for 5 years playing poker online) the fact is that the DoJ is going to systematically destroy anyone who has anything to do with online gambling. Anyone starting any startup in that space in this country is begging for jail time.

That was my point exactly. I would think anyone setting up a wide ranging electronic payment system must need some sort of funding, banking deals etc. Being US based, getting that with a prominent link for Online Casinos etc. to sign up as merchants on the front page, seems rather unlikely. Hence, unless they refocus, the whole startup seems a bit unserious. I wish them the best of luck, though; hoping that does not make me guilty by association:).

A swiss startup should give this a shot! They have what I think would be a unique advantage... they automatically inherit the trusted & neutral "brand" thing associated with swiss banks.

It would need to prove stable but it might be enough to give Paypal or any other fund processor (online banks even?) a real run for their money.

Reply on news.ycombinator.com