Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Payment Processor Fails

There is a bit of head-scratching going on in the online casino gambling industry this month as the reality of the Intabill situation really hits home –the company is going bankrupt basically and owes as much as $30 million to a variety of internet gambling companies all over the world. Intabill is a fairly new company in the payment processing industry –certainly not one of the main companies supporting the UK and European gambling markets. Intabill billed itself as one of the top-ten e-commerce payment processing companies in the world. And while that may have been true, the Australian based company now owes millions of dollars in unpaid payments to a range of companies both within and outside of the online casino gambling industry.

Intabill was launched by Daniel Tzvetkoff, a UK citizen of Bulgarian decent who currently lives in Australia and has headed up the e-commerce payment processing operations of Intabill. Tzvetkoff claims that the currently recessive global market is mostly to blame for the company’s instability. Warning signs have been coming for several weeks now; Intabill laid off 96 employees in an effort to recover from the financial crises. Matters were intensified when Intabill’s intermediary payment processing company, US-based Impact, refused to continue processing the transactions because of back payments.

The online casinos that were doing business with Intabill will are reportedly expected to loose somewhere around one million dollars a piece –luckily though its companies like PokerStars and Full Tilt. Both of these online poker gaming companies are so stable that there is no doubt that they can weather the crisis if Intabill turns out to never make good on the owed payments.