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Still, the actions against BetOnSports and Neteller have left the online accounts of their U.S. customers frozen until legal issues are resolved.
"The truth is that the money is in limbo and the companies are not required to refund any money until a successful prosecution or settlement takes place," says Michael Tew, principal of gaming consultant CapitalHQ. "This could take years." Funds from other gambling sites are not tied up, Tew and others say.
Though money-transfer companies such as Neteller do business with financial institutions and merchants, many also allow gambling companies to transfer money collected from U.S. gamblers to bank accounts outside the USA. Neteller last month closed its U.S. Internet gambling services, erasing about two-thirds of its business.
Neteller offers few instructions for customers trying to cash out their accounts. "We are working to resolve all withdrawal issues, but in the meantime we continue to maintain these funds in trust on your behalf," says a posting on the company's website.
Neteller declined to comment. The company processed more than $7 billion in online gambling transactions in its 2005 fiscal year. FBI Agent Neil Donovan says funds from Neteller are being held in court as potential evidence. Some customers may get their money back, but he did not provide a timetable.
"The truth is that the money is in limbo and the companies are not required to refund any money until a successful prosecution or settlement takes place," says Michael Tew, principal of gaming consultant CapitalHQ. "This could take years." Funds from other gambling sites are not tied up, Tew and others say.
Though money-transfer companies such as Neteller do business with financial institutions and merchants, many also allow gambling companies to transfer money collected from U.S. gamblers to bank accounts outside the USA. Neteller last month closed its U.S. Internet gambling services, erasing about two-thirds of its business.
Neteller offers few instructions for customers trying to cash out their accounts. "We are working to resolve all withdrawal issues, but in the meantime we continue to maintain these funds in trust on your behalf," says a posting on the company's website.
Neteller declined to comment. The company processed more than $7 billion in online gambling transactions in its 2005 fiscal year. FBI Agent Neil Donovan says funds from Neteller are being held in court as potential evidence. Some customers may get their money back, but he did not provide a timetable.