Neteller and Skrill exit Brazilian market

Online payment processors Neteller and Skrill – both subsidiaries of the Paysafe group – have advised Brazilian online punters that they will regretfully no longer service their gambling transactions, effective February 21.

Customers will have until February 28 to withdraw funds from online gambling sites to their Neteller/Skrill accounts.

The decision may be based on uncertainty regarding the intentions of the Brazilian government, which is pursuing a long-running debate on liberalising the local market (possibly to include online gambling) but does not yet appear to have come to any final conclusions, let alone approved one of at least two bills before the national legislature.

A recent survey of over 2,670 respondents showed that 86 percent of the sample favoured regulated and licensed online gambling.