Online payment firm NETeller said that it would no longer process transfers related to online gambling sites for Canadian or Turkish residents due to tightened regulations in the jurisdictions.

The firm said in a statement, that the risk to its ongoing business in Canada and Turkey has increased in the light of the new laws, necessitating the move.

NETeller added that pulling out of Canada would have a “material negative impact” on its results for the full year ending 31 December 2007. Recent figures show that Canadian customers accounted for nearly 30 per cent of the revenues from its remaining, non-US operations.
Tags: Neteller, Online Casino News, Canada Gambling, Turkey Gambling

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