Topic: Reason Why Casino Bankrupt? (Read 1440 times)
I'm now going to close this thread to avoid sam on future. Thanks for all your effort on giving a opinion. Your help was really appreciated. ciao!
Plenty of reasons are on the board.
One of the main reasons that will make casino go bankrupt is that some of the casinos open their doors without having a decent stash, which means that if someone gets really luck the casino may lose the complete stash and won't be able to process any more bets.
Another good reason is that some casinos have security flaws, and may lose money just because someone hacked their site.
One of the main reasons that will make casino go bankrupt is that some of the casinos open their doors without having a decent stash, which means that if someone gets really luck the casino may lose the complete stash and won't be able to process any more bets.
Another good reason is that some casinos have security flaws, and may lose money just because someone hacked their site.
Many factors that I can conclude, starting from the unpreparedness of the system / server that can not be more intelligent than the tricks users do, lack of capital, and even corrupt developers trick the owner by becoming a gambler who knows everything about gap of system. But casinos that have been through more than 3 years would have survived from things like this.
yeah right if players/gamblers found something which benefits them to take advantage like script which can make the house being bankrupt if the house is un-prepared from this surely they will face bankruptcy as many players will follow and use it. that's the reason why most house keeps doing updates to avoid such things like this.Many factors that I can conclude, starting from the unpreparedness of the system / server that can not be more intelligent than the tricks users do, lack of capital, and even corrupt developers trick the owner by becoming a gambler who knows everything about gap of system. But casinos that have been through more than 3 years would have survived from things like this.
yeah right if players/gamblers found something which benefits them to take advantage like script which can make the house being bankrupt if the house is un-prepared from this surely they will face bankruptcy as many players will follow and use it. that's the reason why most house keeps doing updates to avoid such things like this. 
Many factors that I can conclude, starting from the unpreparedness of the system / server that can not be more intelligent than the tricks users do, lack of capital, and even corrupt developers trick the owner by becoming a gambler who knows everything about gap of system. But casinos that have been through more than 3 years would have survived from things like this.
We'll some Casino's get bankrupt because of Professional gamblers but some are scams from the casino's machines and some are the gamblers because its rigged.
I want to plug here a breaking news. Satoshidice is a scam site due to transparency issue and disappearing almost a hundred BTC. So keep away on that site guys. I think transparency issue gives also an impact for the profitability of a casino. Because once a casino is transparent, Then a lot of players will be tempted to play without any worries.
Where are you getting this info from?
Those are serious allegations
Good thing I withdraw some of my coins from there
It's megadice now too
I want to plug here a breaking news. Satoshidice is a scam site due to transparency issue and disappearing almost a hundred BTC. So keep away on that site guys. I think transparency issue gives also an impact for the profitability of a casino. Because once a casino is transparent, Then a lot of players will be tempted to play without any worries.
The biggest risk come from the amount of money you are taking on bets versus the amount of capital your casino has, this is why some casinos accept investments from other people that way they protect themselves against this risk, they share the profits but they also share the risks.
That's why most casino have a limit on how much you can win to avoid these kind of risks. Not only that I think they open the invest option to the public so that they could increase the max payout and to gain trust from the bitcoin gambling community.
One dice site that I know(starts with M and rhymes with lyrical) got robbed by one of their own developer idk why but he did it. Since he knew the server seeds he used it to determine to possible outcomes of his bets.
From what everyone have typed, the only thing that puts everything together is what I termed 'over-trading' which simply means going above your means can carry and can identify itself in any of the ways that have been said earlier. However, with proper planning and due diligence, I believe up to 98% of the issues can be solved afterall we have sites on this site that have been here for a while and still waxing strong on a daily basis.
Hello folks!
I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
The biggest risk come from the amount of money you are taking on bets versus the amount of capital your casino has, this is why some casinos accept investments from other people that way they protect themselves against this risk, they share the profits but they also share the risks. I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
I will close this thread right after it hits 2 page or I gather much info whichever will occur first.
‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡
Thank in advance for helping!
before you launch your casino be sure you have tested every part of the script and closed all exploits
new casinos are hacker's eye catcher
new casinos are hacker's eye catcher
Hello folks!
I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
At fresh start ofcourse you need to minimize the lose of your gambling house setting a limit of maximum deposit whuch you can afford to support if any gambler won a big prize . To be the next is the system or the seeds of your games and lastly the person you hired to manage your casino needs to be trustworthy. I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
I will close this thread right after it hits 2 page or I gather much info whichever will occur first.
‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡
Thank in advance for helping!
Hello folks!
I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
In my opinion casino can go bankrupt if someone hack owners wallets. I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.
I will close this thread right after it hits 2 page or I gather much info whichever will occur first.
‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡
Thank in advance for helping!
If casino has regular players i don't think it can bankrupt in long run.
Dicebitco.in was a great dice site and getting popular but their bet was rigged , that's fatal point for their site
( that's because casino cheating ! )
Some of casino provide unfair or un competitive rate so less people want to play on their site , so the casino can't maintain operational cost anymore
( that's because casino cheating ! )
Some of casino provide unfair or un competitive rate so less people want to play on their site , so the casino can't maintain operational cost anymore
In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.
You're stating about the casino which is just in its beginning phase. For a well established gambling site, the chances for getting bankruptcy will arrive when gamblers are cracking their secrets like hash generation. Yes I'm speaking from the real time scenario (but fortunately PD survived that).Another real time example is : devs will be misusing hash algorithm which also will lead to bankruptcy.
That is true, I partly agree with LuanX3 here. Why do you think big casinos still do a lot of advertising? Yes, security is really important since if they have a lot of money in their pockets hackers will want to target them. But if they keep on just securing and not protecting their player base then it will decline and no more players will stay.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.
i agree with you, casino is depend on people that visit and playing gambling in that site, the less people, the casino can not get profit. but to make people stay for a long time, i think the owner must make them satisfied with the service and give something value for the members for example giving some bonus, make an events, or make jackpot prize more bigger to attract more new gamblers.
In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.
You're stating about the casino which is just in its beginning phase. For a well established gambling site, the chances for getting bankruptcy will arrive when gamblers are cracking their secrets like hash generation. Yes I'm speaking from the real time scenario (but fortunately PD survived that).Another real time example is : devs will be misusing hash algorithm which also will lead to bankruptcy.
I think the reason why a Casino get bankrupt is due to these reason:
Poor Management
Incompetent Marketing strategy
Low House Bankroll
Unattractive advertisement
High Rollers winning
Hacks
These are some things why a Casino get banrupt. You should hire the best marketing strategist and security team. Games and software are just there waiting to be bought. And if your initial fund is kinda small, you can open an investment program so people will invest in the bankroll. You do not have controll over the winners since it is all a chance, you better have a highly fund bankroll. Security is best to keep hackers away so pay for it.
too much , i can say simply the one with really low fund to operates the casino could lead into a bankruptcy. with good amount funds you can fix the poor management, have a good marketing strategy, have a big bankroll of course , have an attractive interface , have a high level security and many more! am i right?Poor Management
Incompetent Marketing strategy
Low House Bankroll
Unattractive advertisement
High Rollers winning
Hacks
These are some things why a Casino get banrupt. You should hire the best marketing strategist and security team. Games and software are just there waiting to be bought. And if your initial fund is kinda small, you can open an investment program so people will invest in the bankroll. You do not have controll over the winners since it is all a chance, you better have a highly fund bankroll. Security is best to keep hackers away so pay for it.
One should have a good bankroll to maintain any casino well otherwise soon or later they can go bankrupt. Because you can expect some big whales to play and win big amount as well. So if you operate a casino with smaller bankroll surely go under loss. Other factors like marketing, management all come later on.
In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.
Jump to: