Gold Pay Leaves US Market

February 19, 2011 | News Category: Casino Banking

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Recently, Gold Pay, an e-wallet solution that was being used by players in the United States, has left the US online gambling market.

It was not long ago that eWalletXpress had to suspend their US operations, leaving players concerned that they may not receive any funds that they had already transferred into their eWalletXpress accounts. There have been no recent updates about the situation with eWalletXpress, although it may well be possible that funds will eventually be released to players after the company sorts out their issues with the US federal authorities.

Neteller found themselves in a similar situation in 2007, and the company did manage to release funds some time later, after they had negotiated a deal with the US federal authorities.

Gold Pay is a fairly small online payment processor that only began offering their online payment processing to players in May 2010. The online gambling payment processing company filled a small niche market for various forms of online gambling.

Although Gold Pay is not entering into further discussions with their players at this time, they did make an announcement on February 4th.

The newsletter that was sent out to their online gambling payment processing customers included the following announcement: "Recently, as a result of pending legal matters, Gold Pay was forced to suspend all gaming related transactions. We do not have a timeline for when those issues will be resolved or what the outcome will be."

While this most certainly looks as if the online payment processor is in the same situation as eWalletXpress, the information that was sent out does not preclude the possibility that this e-wallet solution may have had some other legal problems.

Gold Pay has not responded to any questions regarding their announcement, which leaves players in a difficult position, where they are worried about the possibility of never retrieving their funds, yet they have no real information as to why the company suspended all their gaming related transactions.

It is likely, however, that the reason Gold Pay has left the US market is because of complications that have arisen because of the UIGEA (Unlawful Internet Gambling Enforcement Act). The UIGEA does not allow online gambling payment processing in the United States.

There are of course a number of other methods that can still be used for those who are based in the United States and still wish to play in their favorite online casinos. The specific methods that are available for use at any given online casino will be listed on the online casino's site.

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