|Troubled Isle Of Man based e-wallet NETeller Plc has announced that it will no longer process online gambling transactions from residents of Israel.|
'Recent legal developments have increased the uncertainty regarding the legality around certain activities related to online gambling in the Israeli market,' said the company in a press release.
'The company has, therefore, concluded that the group will no longer process transfers related to online gambling sites on behalf of Israeli resident customers.'
In late-June, a Tel Aviv court upheld a lower court ruling that stated gambling websites targeting Israelis are breaking the law even if these are run and registered abroad. The original ruling was surrounding the case against Michael Carlton, Chief Executive Officer for Victor Chandler, in January.
Carlton is a British citizen who lives in Gibraltar but his online gambling site was determined to be illegally targeting Israel residents. The judge in the case ruled that the company was violating laws banning the advertising of illegal gambling and was specifically targeting Israeli users with Hebrew-language content and the option to bet on Israeli sports teams. The court in Tel Aviv upheld that ruling and solidified the nation's stance on online gambling.
NETeller said that it would be limiting its services for Israel residents in the same way it does for US residents. Israeli customers will still be able to use their NETeller accounts for non-gambling related money transfers and withdrawals and local funding options for their accounts will continue to be available.
'Customers located in other parts of the world are not affected by this change, and NETeller continues to service these customers in a normal manner,' the company said.
'The Israeli business of the group does not represent a material proportion of the group's overall customer base, revenue or profitability.'