News : Neteller to buy Skrill for 1bn - Poker News

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News : Neteller to buy Skrill for 1bn

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03-24-2015 , 03:30 AM

SootedPowa

veteran

Join Date: Jun 2013 Posts: 3,429

If you google around you will see Neteller (Optimal Payments plc) has made an offer to buy Skrill at a cost of around 1bn.

Also reported here http://forexmagnates.com/skrill-boug...-e1-1-billion/

I do not think the deal is finalised yet but it is looking very like it might happen. Bad for the customers IMO, competition is always good to lower fees and charges. I hope this deal ends up not going through.

Also discussed here https://leaprate.com/2015/03/optimal...g-skrill-deal/

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03-24-2015 , 03:51 AM

KptBomba

grinder

Join Date: Dec 2014 Posts: 477

This is a terrible news. Already when skrill got sold first time they increased prices pretty much for everything and it will get worse now. They will have almost monopoly now. Lets hope that someone finally create a competitor for them

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03-24-2015 , 05:36 AM

rtd353

Pooh-Bah

Join Date: Apr 2014 Posts: 3,897

Skrill should hold out they could probably get way more than 1 bitcoin

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03-24-2015 , 07:54 AM

Roger Mainfield

Big Raaaaaaj

Join Date: May 2006 Posts: 5,200

Not good news.

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03-24-2015 , 08:38 AM

The Camel

veteran

Join Date: Sep 2003 Posts: 2,202

Neteller are paying an eye watering amount of money for Skrill.

Frankly I'm surprised it's NT doing the takeover, as I would have assumed Skrill was the bigger (by far) company.

Anyone know how many active users each site has?

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03-24-2015 , 09:11 AM

YorkyPuds

journeyman

Join Date: Nov 2009 Posts: 227

Quote:

Originally Posted by The Camel

Nobody knows for sure with Skrill because they're privately owned. An article I wrote when CVC Capital bought them in 2013 for £511 million stated Skrill has 35 million account holders, but no other info was available.

According to Optimal Payments (group behind Neteller), they had 35,000 active Net+ card users each month in 2013 (their prepaid mastercard).

Shareholders will be happy, up more than £1 since Friday. Their CEO has seen his holding increase in value by £5.1m since Friday!

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03-24-2015 , 09:18 AM

SootedPowa

veteran

Join Date: Jun 2013 Posts: 3,429

Quote:

Originally Posted by YorkyPuds

Shareholders will be happy, up more than £1 since Friday.

Yes not too shabby, up about 2.6% today so far which is not amazing all things considered but still a strong surge.

https://uk.finance.yahoo.com/echarts...PAY.L;range=my

(can you spot the UIGEA on the graph

remember that debacle with all the frozen funds)

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03-24-2015 , 09:39 AM

adrenalineman

centurion

Join Date: Aug 2014 Posts: 109

Quote:

Originally Posted by rtd353

Skrill should hold out they could probably get way more than 1 bitcoin

^ Made my day.

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03-24-2015 , 11:24 AM

Zenzor

Pooh-Bah

Join Date: Dec 2007 Posts: 5,420

Quote:

Originally Posted by Roger Mainfield

Not good news.

why?

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03-24-2015 , 03:34 PM

#10

The Camel

veteran

Join Date: Sep 2003 Posts: 2,202

Quote:

Originally Posted by YorkyPuds

Blimey, 35,000 is alot more than I would have expected.

When I worked for an online bookmaker <0.1% of users funded their account with Neteller or Moneybookers.

Obviously this would be a good bit higher for poker sites as ewallets are so much more convenient.

1 billion Euros is a huge figure especially in a market where regulation changes the landscape so dramatically and the ewallets are at the whim of the merchants (Skybet recently stopped taking deposits from Srill and NT).

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03-24-2015 , 06:46 PM

#11

BananaKendrick

centurion

Join Date: Mar 2015 Posts: 110

any update on this? I am using both, and I think Skrill is definitely the superior, would hate to see Neteller take over.

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03-24-2015 , 06:54 PM

#12

Roger Mainfield

Big Raaaaaaj

Join Date: May 2006 Posts: 5,200

Quote:

Originally Posted by Zenzor

why?

Can't imagine less competition being better for the customer. There are plenty of other wallets but none that are found everywhere like Skrill and Neteller, to my knowledge.

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03-24-2015 , 09:12 PM

#13

Zenzor

Pooh-Bah

Join Date: Dec 2007 Posts: 5,420

Quote:

Originally Posted by Roger Mainfield

Can't imagine less competition being better for the customer. There are plenty of other wallets but none that are found everywhere like Skrill and Neteller, to my knowledge.

So the theory is a Neteller monopoly would allow them to raise fees and could result in poker sites raising rake compensate?

Another option for sites would be to force depositors to withdraw using the same method, and implement withdrawal fees to Neteller like on Partypoker.

I suppose it depends on the % of total despots that come from ewallets.

Also, Neteller accepting bitcoins?

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03-24-2015 , 09:14 PM

#14

TimStone

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 8,375

Quote:

Originally Posted by BananaKendrick

any update on this? I am using both, and I think Skrill is definitely the superior, would hate to see Neteller take over.

Why? Skrill has no support unless u r vip, charges for player transfers, fx fees are about 50% more compared to any similar vip tier on neteller, and neteller gives me dependant on status 1k-3k usd at atms while skrill caps at 500eur/day iirc

So please enlighten me in which area skrill is superior bc i dont see a single one

[spoiler]kind rgds from teh TimStone[/spoiler]

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03-24-2015 , 11:14 PM

#15

Cassim

grinder

Join Date: Dec 2012 Posts: 469

hopefully that wont happen. Fee's will get higher for sure

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03-25-2015 , 12:14 AM

#16

aseHigh

Carpal \'Tunnel

Join Date: Mar 2007 Posts: 11,883

Quote:

Originally Posted by TimStone

its not hard to achieve basic level VIP on Skrill and afterwards : Skrill > Neteller

Last edited by aseHigh; 03-25-2015 at 12:14 AM. Reason: this is awful news

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03-25-2015 , 12:20 AM

#17

slayerv1fan

Go to my Twitch Channel

Join Date: Oct 2009 Posts: 18,907

not hard to get pro gambler status/top lvl vip on skrill either, agree this is bad news.

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03-25-2015 , 12:26 AM

#18

theskillzdatklls

Pooh-Bah

Join Date: May 2008 Posts: 4,916

Quote:

Originally Posted by Zenzor

they just need to allow cashouts in bitcoin. its just a matter of time.

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03-25-2015 , 01:50 AM

#19

FyouIfeeed

newbie

Join Date: Mar 2015 Posts: 23

Is it just me or Neteller really has better customer support, no ?

Agree this is bad news, though.

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03-25-2015 , 07:10 AM

#20

LUCIUS VARENUS

Soldier of Minbet

Join Date: Apr 2008 Posts: 10,461

Pokerstars said I can't use Neteller on my account anymore so i hope this doesn't affect that.

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03-25-2015 , 07:33 AM

#21

davidcana

centurion

Join Date: Jul 2012 Posts: 139

Good News

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03-25-2015 , 08:46 AM

#22

BananaKendrick

centurion

Join Date: Mar 2015 Posts: 110

Quote:

Originally Posted by TimStone

If you want lower fees, you should use the services more. I don't have much fx fees because I'm VIP at both (just Diamond @ Skrill actually, and Platinum @ Neteller). Despite this, I prefer using skrill, I generally get better rates when using my Skrill card over the Net + card. On top of this, when my card information was stolen on my Net+ card, I got the basic runaround I would expect them to give a normal customer, whereas all of my interactions with Skrill have been top notch, and I really feel like I get VIP treatment. I guess I'm not really complaining about Neteller, but Skrill VIP service has just been a level above for me.