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More Payment Processing Problems for Online Poker, Sportsbooks

Written by:
C Costigan
Published on:
Jun/05/2009

The online gambling companies aren't always quick to alert Gambling911.com to payment processing problems.  Over the past two weeks there's been a few coming to the surface.

"I am surprised we are not reading about Intabill on Gambling911.com," said one individual associated with the online gambling sector.

Intabill is an Australian based firm that a number of the Web betting companies have been utilizing. 

One doesn't have to go far to find information on Intabill and its now infamous founder, Daniel Tzvetkoff. 

The company Tzvetkoff majority owns owes about $30 million to online US poker houses, according to James Mccullough of the Courier Mail. 

He drove a Lamborghini with the number plate "baller", owned a massive boat, chartered impressive jets, opened his own Fortitude Valley nightclub, Zuri, sponsored a V8 supercar racing team - and was busy amassing property and doing interesting side deals.

In between driving the Lambo he got around in a Ferrari 599, an Audi S6, a Range Rover and a Ford GT40. During regular trips to Las Vegas, where he is rumoured to have a house, he was again spotted in a Lambo.

Mr Tzvetkoff is young and good looking. He loves fine champagne and had a penchant for the very high life, although deep down he is a boy from Ipswich with Bulgarian parents.

In some IT sectors he was and still is described as a genius who created an enviable business through his main Australian company Intabill, based in Brisbane's inner-west suburb Milton, of which he owns a two-third's share and is managing director.

That company is owned by BT Projects Pty Ltd, whose three shareholders are listed as Tzvetkoff, local lawyer Sam Sciacca and an Alberta, Canada-based company called Rendel Investments.

In recent times Mr Tzvetkoff's business has come back to earth with a thud. A few weeks back Intabill sacked 96 staff from its Milton head office. At the time Mr Tzvetkoff blamed the global economic crisis and said he was refocusing his company. Barely a dozen staff remain at Milton.

His prized Lamborghini and other flash European cars have now gone. His Hedges Ave mansion is believed to be back on the market.

Meanwhile, online poker sites like Full Tilt Poker have been saddled with bad checks from the processing venture, Instant eCheck.  This deposit and withdrawal method has since been yanked from Full Tilt and their competitor's websites. It was also learned that some of the checks issued to players have been bouncing. 

For online poker there couldn't be a worse time for all of this to be happening. 

"We in the midst of the World Series of Poker," said Gambling911.com's Ace King.  "The main event is coming next month and ESPN will be televising the WSOP.  It's a time when aspiring poker pros want to jump on board these websites."

The online sportsbooks haven't exactly been immune to payment processing problems.

Just this week, Gambling911.com reported on Smart Banking Systems, which owes operators in Costa Rica hundreds of thousands of dollars.

Christopher Costigan, Gambling911.com Publisher         

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