Prohibition vs. Regulation Debated As U.S. Bettors Use Foreign Sites

By many measures, Neteller PLC was a huge success. Founded in 1999, the financial services company signed up millions of customers and saw its market value soar to almost $2 billion.But in 2006, Congress passed legislation that effectively banned the company from the U.S. market. Later, federal agents arrested the firm’s two founders and seized their pricey Malibu beach houses and millions of dollars in other assets.Neteller’s crime: It processed payments for U.S. poker players and thousands of other Americans who were using Internet gambling sites.

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