Can Casinos Go Bankrupt Because of Player Wins? - page 14.

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Quote from: Fivestar4everMVP on June 21, 2023, 11:19:17 AM

It is practically impossible for a casino to go completely bankrupt due to a user winning a huge amount of money, this is because casinos nowadays are much wiser, they don't necessarily install algorithms that sees that users don't keep winning, but they do have a winning limit in place, which ensures a user does not win above that limit regardless of the amount the users bets, like for example, on stake.com, if a user bets a huge amount of money and from the odds, it's seen that the user could win money above the casinos win limit, the system will warn the user to reduce he's or her bet amount or go for game with smaller odds.

For players who win constantly, the casino does also limit such players from going full bets on the games the see the player wins constantly..

So overall, casinos have mechanisms in place, that ensures that a user never wins an amount that could drive the casino to bankruptcy.

New casinos under management from new people who are inexperienced in running the casino business can go bankrupt from a player's very large win or if many players with a large sum of money at the same time because they may not know this strategy that you have explained if they do not seek for it.

Older casinos under management from more experienced managers who are not new to the casino business will never let it happen because the casino is a business that is aimed at bringing profit, and there are methods and strategies in place to ensure it.

ajiz138

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We know that every casino game there is always a maximum win and this is what limits them from draining the casino's bankroll and in my opinion it is very rare for someone to be good at gambling and then win until the casino goes bankrupt, I have never even heard of this except being bankrupt comes out as fraud then it exists.

For casinos that are already famous, it is very rare for them to break their bankroll, they are already big, so it won't affect anything if someone, for example, wins millions of dollars, but the casino's income is still large from other games.

For a new casino for me it's too much drama that we see where there are big wins that are withheld by them, with the excuse of abusing it.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

It is possible but it is very rare to happen.
There might be some cases/reasons that can make a casino bankrupt because of players get big win.
One example is that a casino that do not know how to set their max winning per bet, it may make players take all the house's bankroll.
Lets say a casino has small bankroll at $100k but the casino allow win per bet up to $10k or even more.

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Quote from: Wapfika on June 21, 2023, 11:40:44 AM

Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

Most of the games of the casino has a max win limit. This helps them to control the win of players to avoid bankruptcy. Only casino that has a small bankroll or no set max win limit are prone on being bankrupt with one huge jackpot win by players.

Most of the established casino has max win limit so if the discussion is for big established casino then the answer is no. Having that kind of huge jackpot is very rare for a casino to experience a multiple hit like that that will destroy their bankroll.

Problem is not all gambling sites are having good systems to have such feauture, unfortunately. I'd also say this is possible with both small and big platforms as long as their system is not monitored to avoid such problems. Indeed jackpots are a bit of a percentage, most of the time, of the total platform's fund and this is already one way to avoid bankruptcy. No gambling site in their right mind, would put all of their funds in a single winning. This instance just sounds impossible because it rarely happens, but not because of that, casinos would be too comfortable. We are in online platform and glitches maay happen in a sudden.

Quote from: ralle14 on June 21, 2023, 11:45:38 AM

Casinos don't need an algorithm when the house edge is there for them to do the work.

Algorithm, I think, still matters. If there's no such thing their edge would be overpowered by continuous winnings of the players, especially if it won't be a single gambler who'd be in such place. Edge of a casino works with the majority's transactions and losses, but if the other way around, that is pere problem would more likely arise as in line with the topic.

TelolettOm

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It is possible but it should be a rare case. Most developers/owners must already consider that situation, so they must have enough money to pay whatever the prize won by the gamblers. The developers/owners won't launch casinos if they have limited money, they must prepare for anything that possibly happens. It is including how big the possible prize to win by gamblers. However, considering the small chance to win the gambling games, the bankruptcy of a casino is likely difficult to happen. Even I often heard that a win of a gambler is given by the house (casino owners). It is the way to attract more people to join the casino games.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

I think that's possible if player cheats on the casino or if thr player is getting lucky and has huge bets. And, you answered your own question to be honest. Most often that people misinterpret is that if casinos go bankrupt they are thinking it's out of money (that's just partly true) but to be honest, it's already out of customers and the causes might be poor management, doesn't go with the trend, more to be paid on services than what is earned, etc.

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Quote from: komisariatku on June 21, 2023, 11:27:37 AM

But do win limits also apply to sports betting?

Of course there is a win limit, and this applies to almost any new casino even the old ones.
After all, according to the winnings limit that the casino will pay winners seems to be included in the terms and conditions of the site and has been agreed upon by all customers. So it is the casino's way of anticipating bankruptcy due to the gamblers' big wins.

Quote from: komisariatku on June 21, 2023, 11:27:37 AM

In my opinion, in sports betting, it is possible for players to win continuously because they have good analytical skills in placing bets on matches.

Winning bets consistently is difficult, but having more wins than losses is possible. So even if they win a large amount of bets, the casino will only pay you a set maximum amount.

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It can happen if the casino overestimates the max win they've set because gamblers can continuously hit these max wins and gobble up a big portion of the bankroll if they're not careful enough. Skills alone won't help players bankrupt a casino because they always offer the same games, and it's rare for casinos to have a bug on their game (including the originals). Casinos don't need an algorithm when the house edge is there for them to do the work.

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It's really about if the casino is actually going to pay you like what makishart said. If you get extremely lucky that they will honor your win and pay all of it then expect them to do it in installment payments. This will help them build that bankroll and stay up. You still take an L on this since you won't get everything in one go and use it immediately but it's better than nothing.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

Most of the games of the casino has a max win limit. This helps them to control the win of players to avoid bankruptcy. Only casino that has a small bankroll or no set max win limit are prone on being bankrupt with one huge jackpot win by players.

Most of the established casino has max win limit so if the discussion is for big established casino then the answer is no. Having that kind of huge jackpot is very rare for a casino to experience a multiple hit like that that will destroy their bankroll.

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Quote from: bittraffic on June 21, 2023, 11:27:17 AM

A predicament that a new casino will have to face which they either scam the user or accuse the player of cheating.
A casino has to have a huge capital in them, if they all lost it because of this one user, it's gonna be a situation for either letting the casino go down or him. Grin

They'd probably choose him and deal with the accusation of the player soon.

Different casinos have failed before, we saw them in this forum. Some are honest and some are not.

We've seen that happen a player wins a big amount and the new casino cannot pay him so they accuse him of cheating to delay the payment or not pay the poor guy, so if you are good, especially in sports betting choose a more stable casino so you will not encounter of not getting paid or delayed in payment because of the casino cannot keep up or will just wait for additional funds from their players' losing money so they can pay the winner.
So many casinos prefer to scam their winners before going down so check the status of casinos you're playing if they can still keep up paying their winners.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

Casinos will be rich if more and more addicts continue to gamble in that casino, so don't ask casinos to do anything to help stop addicts in their casinos, the more active gamblers the greater the profit, but if there are not many gamblers and addicts playing in casinos then therein begins the casino will go bankrupt. it doesn't matter the casino is big or small.

As long as casinos still have active gamblers and addicts their casinos will continue to run without stopping, because they always have a way to win against their users including addicts and then get a lot of money from them, that's why never expect that gambling can make us rich, play wisely when when to stop playing and when to play, don't be greedy for self-control before playing so we can win against the casino as well as ourselves. Whether or not a casino goes bankrupt depends on its active gamblers.

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casinos will limit the amount players can bet in situations where they know they can't pay them if they win. i would wonder though what sort of game are they playing because the house always win. for new casino they only have luck base games, it's the old and famous casinos where they add those poker tables and sports that can potentially take a chunk out of their money.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

The fact that if it's not possible for casino to go bankrupt and why? See the case below
https://www.desmoinesregister.com/story/news/crime-and-courts/2015/04/25/supreme-court-casino-jackpot-denied/26356437/

Majority of casinos will be refusing to pay the big win that achieved by its users. In my opinion, if the casino has no enough liquidity to cover the max win achieved by its user. Mostly casinos will call it as a glitch or whatever the reason is to avoid paying money to the winner of jackpot.

Quote from: komisariatku on June 21, 2023, 11:05:38 AM

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

The new casino is learning to put limitation into the maximum amounts of money that the user can win. it's rare to see casino paid full amounts for user that got max win.

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Quote from: Fivestar4everMVP on June 21, 2023, 11:19:17 AM

It is practically impossible for a casino to go completely bankrupt due to a user winning a huge amount of money, this is because casinos nowadays are much wiser, they don't necessarily install algorithms that sees that users don't keep winning, but they do have a winning limit in place, ~snip~

I think if we play slots, there really is a win limit. After we get the jackpot or big win, the next round will be very bad. But do win limits also apply to sports betting?

In my opinion, in sports betting, it is possible for players to win continuously because they have good analytical skills in placing bets on matches.

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A predicament that a new casino will have to face which they either scam the user or accuse the player of cheating.
A casino has to have a huge capital in them, if they all lost it because of this one user, it's gonna be a situation for either letting the casino go down or him. Grin

They'd probably choose him and deal with the accusation of the player soon.

Different casinos have failed before, we saw them in this forum. Some are honest and some are not.

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Not by a very big win but if many players would win big time. This has something to do with fund management for a gambling platform. Results are thru algorithms and if most if not all players would win on a single day, then there might be a problem with the system but by anyhow, the online casino should be responsible enough to pay those winnings whether it would result to bankruptcy.

Quote from: Oshosondy on June 21, 2023, 11:11:08 AM

It is very possible that can happen to a new casino.

But the chance that a punter would win a huge amount of money to run the casino down is very low. As the gambling site is becoming known, more people join to gamble and the more profit they make and the chance that this would happen becoming low.

We should still keep in mind that we should not totally trust a need casino or other gambling sites that are new, we should gamble with far lower amount of money on such casino until the casino is gaining better reputation and having huge online traffic.

Would rarely happen for sure. Gambling sites are paying huge amount of money to run their platform and they are simply paying professionals to handle things and avoid such bad scenarios. Also, before a platform is released to public, there'll be and should be a pilot testing if they are really serious of prolonging the existence of their site, not unless they are after with bad intentions toward their players right from the start.

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It is practically impossible for a casino to go completely bankrupt due to a user winning a huge amount of money, this is because casinos nowadays are much wiser, they don't necessarily install algorithms that sees that users don't keep winning, but they do have a winning limit in place, which ensures a user does not win above that limit regardless of the amount the users bets, like for example, on stake.com, if a user bets a huge amount of money and from the odds, it's seen that the user could win money above the casinos win limit, the system will warn the user to reduce he's or her bet amount or go for game with smaller odds.

For players who win constantly, the casino does also limit such players from going full bets on the games the see the player wins constantly..

So overall, casinos have mechanisms in place, that ensures that a user never wins an amount that could drive the casino to bankruptcy.

Oshosondy

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It is very possible that can happen to a new casino.

But the chance that a punter would win a huge amount of money to run the casino down is very low. As the gambling site is becoming known, more people join to gamble and the more profit they make and the chance that this would happen becoming low.

We should still keep in mind that we should not totally trust a need casino or other gambling sites that are new, we should gamble with far lower amount of money on such casino until the casino is gaining better reputation and having huge online traffic.

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Quote from: komisariatku on June 21, 2023, 11:05:38 AM

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

I guess you have already answered a big part of your own question which is the age of the casino in question, although I have not anything of such but I feel this can be possible if the casino like you said is a new casino and the management are not holding enough funds to run the business OR the casino actually has some glitches in their system in which some their users have found out and there are using it against them by exploring this glitch to best of their advantage.

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