Topic: Rollbit Casino loosing value due to Licensing Ambiguity amongst users (Read 675 times)

The issue has been already resolved and they have acquired the licence back with few updates in their NFT and trading based system as per the guidelines of Curacao licence operators so I don't think we should blame for Rollbit any further for this matter.They have not tried to make anyone fool or somebody losing funds due to it but yes the token fluctuated due to FUD as normal so the team is always giving updates if we follow the discussion.

The days for unlicensed casinos are numbered, not only they are not getting the attention they once got years ago, the different governments and regulatory agencies are not going to rest until all the cryptocurrency casinos have their own license.

And this is because on the terms of those licenses casinos are obligated to fulfill a set of conditions to keep their license, and one of the most important is to identify the gamblers which wager significant amounts of money at their casino, and as much as some gamblers may not like this, those polices will remain in place for the foreseeable future.

The problem is many aren't ready to look out for this when trying to open a gambling account on the platforms, they always find out later when they won and was asked to pass the KYC verification, the online casinos can't be blamed for this, gamblers are the one that needs to comply with the casino policies.

It is not easy to run a casino in a country with the law, there are a few things a casino must not do and the most delicate one is not asking gamblers for verification, they will be prosecuted for doing that.

KYC requirement is a must for a legal casino to operate in peace.

Every gambler must always know all the provisions of the casino in advance so that in the future you don't get into trouble.
The implementation of KYC will always be in the casino's TOS so that gamblers can consider everything before registering and playing because most gamblers don't like KYC and when in the future the casino asks for KYC conditions, gamblers will complain and feel the casino is not being honest and fair with them.
Yes, KYC is usually requested because of the license requirements used by casinos and it is normal for casinos to implement them because licenses are also very important for casinos.
We as gamblers must be able to understand and accept this situation so that we ourselves can also play calmly without feeling uncomfortable.

That is what happened? They were offering trading services? If that is the case then it makes sense that they are having problems when it comes to renewing their license, this is as if a restaurant that was not given the permission to sell alcoholic beverages did so and the authorities found about it, then it is obvious that such a restaurant will get in trouble and have to pay all kind of fines because of it.

A casino cannot offer those kind of services as they need a completely different license for it, and even if they tried to get their license at another jurisdiction they may still have trouble to get it, as I doubt this is something which can be hidden from the regulatory authorities of other countries.

BFG's utility and usage sound interesting and reasonable, though I wouldn't be interested in a casino's native token, if I was, I would probably invest in BFG or instead, just play on the platform to mine some and then stake them on the platform. I didn't do much research about it but from the about page of their website, I can say that it is worth having.

On the other hand, I believe Rollbit got in trouble mainly because it providing derivatives trading to its customers which is not what a casino is supposed to do. Even if you create a utility token, you can't allow any sort of trading on the casino as it isn't an exchange but it is a casino.

They might enjoy the services that the casino can provide but being unable to comply with the license requirements of the casino might backfire on them in the long run or worse, could affect their funds in the future. Complying with the licensure requirements is one of the struggles of casinos but we can see their legitimacy and willingness to establish a strong foundation of their casino through it.

I think the problem of some casino owner having a good reputation and still lacking a license is that it makes much difficult for them to maintain their business while dealing with authorities, they can continue to exist with those gamblers which may not mind they not having a license.

But what is going to happen when Rollbit needs to transfer FIAT through bank accounts between countries or buy properties? they would find a brick wall, since they could not explain easily the origin of those funds to the governments without being properly registered.  

So it is not only about the sentiment that gamblers could have but also how tough things can go without having the papers.

   -  In short, losing the money we put into a casino platform here in cryptocurrency really depends on our decision where we want to gamble in this industry.

That's why other communities are right to say that we should learn from the past closed crypto gambling businesses in the cryptocurrency gambling business. We should always consider always doing Do your Own research(DYOR).

Very well said mate, and I wish every one can really read this and adhere to it, but unfortunately, the gambling community is so saturated with lots of online casinos that most times, it is really difficult to remember to do any kind of research before joining one, most especially, in the area of them offering different kind of bonuses, bonuses have been one of the sure ways casinos captivate gamblers, making them to forget anything call research, but focus totally on how to earn the proposed bonus..

Anyways, that's just it, for Rollbit's licensing issue, I don't see it as a big problem as I've said before, they have grown to a point where they can solve any issue if they really want to.
This probably would have been a death sentence if it was happening to an up and coming casino that isn't well established yet.

Yes you are right that mate there are. Some casino launch a token ended to scam and was can not deny the fact that many gamblers failed and loss some of their money. In rollbit token maybe it will long last as long as their facilitator will get updated all the data and if there's an issue they must make a way to solve it in order to have a good outcome and long last their token. But we don't know in the future so as a gambler it will help us if we are gonna search/think before we click.

i used to hold bitdice tokens before and i saw the price kept going down so i sold it because i saw no progress whatsoever on their tokens, that's why i never invest in casino tokens anymore, sometimes we don't know how long the casino lasts and also sometimes the casino doesn't care about the growth of their tokens so letting it go is like trash and no intention of cornering rollbit, but it's best to invest in anything always prioritizing research is important

If we do some research looking back in time, there were indeed some casinos that launched token projects and eventually disappeared taking all the money from the investors because the casino tokens only had significant uses as currency within the casino itself but even then they could not make a profit. big for the casinos that have them so there's a chance they just choose to take all of the investors' money with them.
But this time it seems that Rollbit will not be able to commit this fraud because it can damage Rollbit's own reputation and destroy the casino business that they have managed and built for a long time.
Rollbit must think carefully so that what he gets is not in vain.

Because casino token don't have any use case except the benefit you gamble on the casino, similar like exchange token. What can you expect with the token if the casino turn become scam? the token will follow the casino path too. Hack, scam, abandon, etc aren't nothing new in centralized site, so anyone should be prepare if the worst thing will happen in the future.

It depends on the license itself, Curacao license is weak and doesn't offer anything to the players or investors. The trustworthiness depends on the casino reputation, not the license.

It's strange really and maybe Rollbit have setup themselves up slightly. In reality, these licenses are interchangeable and don't mean all that much to the end user. They just show that the casino has taken an extra step and got over a hurdle that most scam operators would not be bothered to do. They could move to one of the other jurisdictions that offer these regulators for sale, but that takes a little bit of time to finesse the deal. The real problem is that they've intermingled their name with an altcoin and we've seen how volatile the market can be. Even those coins with the greatest foundations, much like stocks, can act irrationally in the face of market conditions outside of their control - but it has an added effect of slightly tarnishing their brand name,

Was supposed to say considering that i have been a holder or CSNO which is on Bitdice.If they do try to look up on what happened into that casino based token then for sure you would really be having thoughts that

the team might be selling out their holdings but the fact that the holders are the ones who do make out such step.There's no way that we could call them a scam just because theyre just having issues about their casino tokens value which had been the effect coming from that licensure renewal of their casino? It doesnt really make any sense because delays could really happen but one things that what
shows up that Rollbit arent that dumb not to renew it out considering that they are really that doing well into this market.

I agree and I accepted the fact when I invested and hold BFG token but I trust their roadmap, their goal, and their platform and so far they are doing great both in the market and in the industry, as long as they have the support of the gambling community and they keep their reputation intact investing in BFG token is still worth it, like all the other altcoins it has all the risk attached to it, but they have a better platform compared to other altcoins which only give you empty promises and useless platform, I hope Rollbit will continue and will still be one of the profitable casino based token in the industry. 

^ Because there are too many potential risks in investing in crypto token casinos we must be considered them before dropping our money.
It could be these, regulatory risks, market volatility risks, reputation risks, and liquidity risks will probably be the possible downside of the token casino and that is right, with proper research you will find out a good decision in investing in a token casino. So it is up to you to decide which crypto token casino to choose because dropping the price is pretty normal to me.

Do some research about casinos that launch a token. You'll see that most of them ended up scamming and disappearing. Betterbets, BetKing, and BitDice to name a few. I'm not saying rollbit will scam or anything, just saying look at the past.

Issues on the mother utility would be a factor but so do the market itself. Most of the tokens yesterday or recently are in sudden red marks and that might be because of mnipulation, but ofcourse that would be another story for this topic. License indeed will give assurance to the players but keep in mind that there are platforms which are not licensed but still having a good reputation in this industry. FUDs simply work in a single snap for those who are new in this industry in general.
Insurances I guess won't work in gambling especially with crypto based gambling platforms. Regulation won't worm that simple given that these blockchains are not regulated in the first place. A site being licensed means regulation as well but limited to some aspects; perhaps withdrawals wherein not all kinds of transaction would be taxed such as with fiat based ones. License would only signify that the team won't run from its investors or players instanly 'coz they could be sued right after.

Actually licensing is for legalization of casinos, the license is not an insurance, since it's quite hard for licensers to control every single casino they give license to. So, I assume, there will be some different ways to bring legalization of online casinos. Maybe Curacao License Board will bring some new products, which would be not only license, but also strong control and/or insurance as well...

I don't think there was really much of a problem at all to begin with.  And as said, it was prolly just the Curacao Gaming Control Board finding something offered at Rollbit that's outside of the scope of the license, thus taking it a wee while to renew the license.  No one is getting scammed, no one is having their money being taken from them.  It's just a standard procedure but with a hiccup and a delay.  That's all.

And it's funny how the news from Coindesk made it all look like something really bad was going on.  These fkn journos are the worst.

I think it's just a matter of expired license and if it's resolved soon and the license issue is resolved, I'm sure the campaign won't be delayed or closed.

It's natural for their RLB token holders to sell all the tokens they hold on the grounds that they are afraid that if a problem occurs as has happened in the past with other companies and I also believe that if the Rollbit company immediately solves this problem, it will definitely get better soon.
it's just that right now it's possible that the Rollbit company is planning something that's best for the future of the casino's reputation.

I think that we all already knew that the problem would be solved and each one of us already had in our heads what should be the origin of the problem, looking at what they post on their twitter account you soon realize that the center of the problem was the NFT that they are issuing, and as I posted before, not even the curacao who are very soft on this issue of regulation would not allow giving a license to a casino and then that casino starts issuing tokens without first having consulted the license provider that in this In this case, it is the curator who should authorize the casino or give instructions on how to proceed in this scenario, which shows that the casino did not have a legal department before the license renewal

this means that @wiss19 is right in some of the things he wrote, most of the time greed blinds people, the business of issuing tokens and making the naive and greedy buy a lot and keep posting nonsense like "go to the moon" It's something that makes a lot of money for altcoin creators, we all know that, just see that not in altcoin creators who didn't make a lot of money with altcoins they created, if so, it's a very small number of altcoin creators. the only losers are the buyers who spend years doing hodl or talking about things like going to the moon and after many years the only thing that comes is altcoin going to the ground

and then sell at a lot of losses, this is a cycle that will not change anytime soon until governments intervene with laws to stop anyone creating tokens and distributing them without having a legal basis, a clear legally registered use, and punish the creator of the token and altcoin when the price of the altcoin or token is worth nothing, only with laws and that will stop a lot of things that have harmed investors in this market. the casino is reliable, I don't think anyone has any doubts about that, but this issue of casino currency is another dark subject

Between having a license with no reputation and no license but having a good reputation I choose the latter I'm sure the majority of gamblers will choose it too, Rollbit has been with us and still doing ok are we going to dump it because of the license when the majority of us here valued reputation than the license.
Rollbit announced that they will fix the issue and they are one casino that will fulfill their promise, so OP's title is not a fact and in the long run, they will eventually get their license renewal.

rollbit team is moving fast to tackle FUD everywhere about their casino even now their token value is getting better but keep in mind that anytime FUD will always attack casino sites so this will be an important lesson for rollbit team to keep their name safe i.e. with attention even a little thing about their site as an example about licensing and stuff, I'm sure they can handle this all well

There is a big difference between a random online gambling site and a reputable one, and the difference is quite evident. They were able to tackle this issue and resolve it, whereas if this was a random online casino, it would have led to their downfall, by the way, I had no idea Rollbit had their own token, the price action has been awful so far.


Currently, I can only see $0.01 through $0.06 dollars; this is a very poor performance, they need to implement more use cases or else there will be no point in having the token at all.

The token is running on the Solana blockchain, and that's not so good judging from a few problems that solana faced since 2022, random shut down, FTX massive sell off, also they need a better CEX listing, Rollbit was never a decentralized gambling platform, I don't know what they decide to stay on DEX only.

sometimes things like this needs to happen so they can prove the legitimacy and their capacity in solving problems in many ways and this also add respect to the team and management as the problem process are coming.
Rollbit is a serious business and I believe that they are one of the most trusted and most competent in this business and in this way I will keep using the site and play with the money i can afford to risk and lose.

They have already solved the issue but for me also it was not a problem as the team has responded to the matter in thread while giving assurance to the community they will renew it shortly.After few changes in NFT they have acquired back the licence which is good on the part so community has gain trust on them.

yes maybe because RLB token is only available on solana network and Dex exchange, maybe if on CEX market of course they will be more known again, so far RLB price is showing positive trend considering the clarification from Rollbit team about license issue to prevent and face all FUD who try trying to bring down those who take advantage of the moment to seek advantage of this problem.

Rollbit has been successfully renewed their license, as you can check it yourself by visiting the side and scroll into the bottom page. Rollbit Coin price was increase after Rollbit announce this tweet, so I don't think we should need to worry about Rollbit reputation, they're big and have a lot improvements so far especially by following the current trend.

For me license problem isn't a big deal, it's different if the case about lawsuit by SEC.

Honestly, I don't think the down tendency, as you called it is peculiar to this Rollbit's token, aside the fact they are having the licensing problem as stated, one major problem casinos tokens have in general is that they lack utilities, that is significant usecase, most times, I personally see no reason why casinos should even have a token in the first place, aside speculations, which is really not a usecase..
Check out
BFG
FUN etc they are all down, and it's normal because those casinos don't have any problem at the moment, RLB is down, and it seems to be making headline simply because the casino is going through some issues, assuming not for this issue, we all would have considered this down moment a normal thing too.

Yeah, I am also expecting a pump once the issues are resolved, but I honestly do not think the pump will last for the long term, since like I said before, casino tokens are speculative tokens, they have no real usecase to sustain its price and keep it relatively high when it pump, so thing here is buy it when it's low, and sell it immediately it pump, I never would hold casino tokens for long term, except am holding it waiting for bull season.

Rollbit still has a good reputation despite the issue. Yes, they have been providing good services with their features for a long time and I'm sure that they will polish everything soon but we can't blame the users who are panicking because of its license matter. However, I believe that they won't let their casino's reputation ruin because of this. Knowing Rollbit, it has good management and a team behind it so they will surely fix this.

They will surely address this concern, Rollbit is still one of the best crypto gambling site and I don’t know if this is an attack from its competitor but I hope Rollbit to survive on this. There’s a lot of other good site that don’t have a license but still manage to operate well, If Rollbit chooses this way maybe this is for the benefit of everybody.

^ It is so sad to know this issue about them but I hope that it will be settled soon.
Rollbit has been here for years and I don't have a doubt it will make a shady activity (not because I am promoting them). The campaign was still there are they were willing to pay for each participant which means they want to continue their business here.
Whatever the reason, the Rollbit reputation was still there and that is only the license, the most important are they still a reputable casino.

I just checked the price of the token and I must say that I agree with you that any serious casino like this one should not have much problem to get this issue solved, I also must admit that the price is not behaving as good as it should, specially for those who may seek for a long term investment. The time for selling was several weeks ago and it looks like it going through a down tendency.

Hopefully, when the regulation issues get settled it could translate to a boost for the price and long term stability/ a solid bottom from their investors can grow from.

First, let me state that I didn't actually know that rollbit had their own token just like BetFury and freebitco, this is actually my first time of getting to know this even though I've known Rollbit for over a year now.

And speaking on the issue, what I have to say is that, Rollbit is a big casino, and I trust that they will find a lasting solution to the licensing issue, I don't think it's something the community need to worry much about, and this is even evident in the RLB token, as checking on coinmarketcap now shows that the token have recovered very well in its price, compared to what it was worth some few days back.

Not all the time and honestly it is really just that a normal approach into those people who dont have an idea on how license  do works.Of course if a certain business or platform is really that having that kind of set up
on which it is really that possible for those KYC but we know that they arent implemented on the time that you do register.They would be only asking it out if ever there would be some verifications or something that needs to be solved or find about.The good thing on dealing with these regulated places is that on the time that they do ran away, then there's still chance for its owners to be caught or traced up.
Unlike into those places who arent that no having license then they could really cover up their tracks and gone forever.

some gamblers don't like license because license means they need to submit kyc to the casino in case of any issues or when the casino asks them to. right now, rollbit already make a name in this industry, so i don't think gamblers will go away just because of the license issues. if the casino itself is still the same, and not screwing their players, why would players go away? some of the established casinos in the forum don't have license and yet, they still have their loyal patrons on their site.

not having licence operation in any gambling websites can directly cause the shutdown of that platform because that is some countries who like platform which is hook on their space to be verify before operation sometimes to some platform use verification or land since operation to show them in order to scam people so two things I involved into this

I don't understand where the more trouble is coming from. If Rollbit has gone beyond the scope of its license it can be sorted out. And there is no information that they were operating with an expired license. What we know is the casino is undergoing its usual annual license review. And even all the news on social media are just hearsays because the Curaçao authorities have not issued any formal report.


The issue will definitely be sorted out because the legal team of Rollbit is working hard to ensure that the license review is hitch-free and quick. We should wait for further clarification before we conclude the reason for the issues the casino is currently having. Concluding that greed and ignorance are the cause is like judging without evidence or fair hearing.

I think they are more in trouble because them offering crypto derivatives trading more than their expiration of the license. They are not a decentralized platform, so they would probably need a license to provide trading services of any sort, and on top of that, their current casino license is also under problems, so they will probably be in more trouble if they don't resolve these issues soon.

Hasty decisions based on greed can always get you in trouble. I'm sure they would have been on the safer side if they had hired a lawyer first and checked with the legal aspects before all their operations that are now being questioned.

I believe people are thinking like this:

when the casino asked for a license, it only asked to operate a casino, there was nothing about a token and curacao granted a license because it was to operate a casino and to comply with KYC laws, but now the casino has a token, that is the casino is issuing a token, I assume that when a casino issues a token it is no longer in compliance with the license of curacao, it does not seem to me that curacao accepts to license casinos that issue their own tokens

because I think that when a casino issues its own token, it is already dealing with another part of the law, that is, it is already deviating from the purpose of the license that was granted, the license of curacao is intended for the operation of the casino and not the operation of tokens, I'm not an expert in laws and licensing of curacao, but following common sense I think my thinking makes some sense and maybe that's why Rollbit is in this situation, we'll see if this situation will be resolved and that I'm wrong, I already I had said that it Is a serious mistake buy coins created by casinos

This statement makes me think I was right with my thoughts expressed above[/quote]


It was expected -- or, at least, I expected that. Considering that we were not talking about a shady company, there was no reason to think about shutting down operations or an exit scam but, instead, expect to work on the legal issues in order to address and resolve them. Shutting down the business would bring no other money afterwards, while resolving the legal issues and working within a legal framework would certainly bring more incomes in the future.

In my opinion, if the issue is with the downgrade impact of Rollbit's RLB tokens and another reason is the license triggering user complaints to Rollbit casino, I think they have explained about that.

After all they have stated about their legal team going forward.

I'm sure Rollbit didn't let the current issues persist for 'licence' reasons I'm sure they'll update all of that, if it's one of reputation, though, I believe they need some time to renew their yearly license and will sort out the upheaval with Rollbit users, i believe they will be responsible for all that, maybe we will see the latest Rollbit news in next few days regarding licensing and developmentRLB tokens.

Right friends, Rollbit is one of the best casinos on this forum and they even have a good reputation and many loyal customers at their casino, so far Rollbit has tried to provide the best for its customers and they have managed to survive in the gambling industry for several years .

We don't know what they were thinking so closing their operations had a negative effect on the signature campaign on the forum and even made the value of the tokens they owned have decreased significantly to date.
If this ongoing problem is not resolved immediately there will be a lot of bad reviews against them which will also damage their good reputation.

There are casinos that offered tokens before them and never heard or read any issues other than price concerns so Rollbit team probably took that as a good indication for launching RLB. No issues or concerns raised by the licensor in the previous annual renewals so can't blame them if they have not taken more action regarding NFT and crypto futures. I'm guessing the licensor probably have little idea on the impact of having those two in the last two years.

I think the concerns about the license is more about Rollbit offering crypto trading services that's not that different from a perp exchange.  Nothing wrong with this per se but it's possible that the Curacao Gaming Control Board saw it as some sort of issue because it's something out of their scope.

And for those who lost money trading RLB, they're just looking for someone to blame.  If you're going to trade something with not much liquidity and with high volatility at the same time, you'll get burned sooner or later.  I mean check RLB's chart out, it went up more than 20x in just a couple of months.  Lol.

Bottom line nobody is getting scammed.  I know I'm in their campaign but I'm not lying either from what info we all know so far...

Their signature campaign and whether they keep it running or not right now is probably the least of their problems, the value of their coin has dropped almost 50% during the last month, and when you think about it this is a very poor performance, not only because of the high drop but also because during that month bitcoin and many altcoins did well.

So I really hope they can solve the issues they are going through, because if they do not then it is possible gamblers will begin to not trust rollbit, and for a casino this is a tragedy as without such trust attracting new gamblers will be incredibly difficult.

It's not for us to decide though, but in my opinion, they can continue with their campaign, and I don't think that they are going to close just because of the licensing issue that they are facing and for sure they are going to address it instead of just closing their signature campaign.

They have their reputation already and if I'm not mistaken, they are one of those casinos born out of the pandemic.

So it will be pity if they would just close their operations or worst their signature campaign in this community. As for the coins, again, we have seen a lot of crypto based token that didn't do well in the past but I think their operation is still running.

This is a sad one, and I could only imagine what the Rollbit team mist have been going through now and I really do feel bad for them and why are customers in such a haste to easily sell off their coins?
They shouldn't contribute in making things worst for the casino as I believe that most of the challenges the casino is going through is in quest to please it's loyal customers but now the supposed loyal customers are all leaving the casino ow in the time of trial which is already affecting the Rollbit team so bad as their token is already dropping so bad.
I hope they come out strong from this challenge and I hope other casinos learn from this slight mistakes and always try to appeal the law before the customers.

There's no way that they would be pausing up their campaign on just having 20% decline of RLB value.Come to think that they've been launching the campaign and running for long time before RLB existed
which means that they could really be able to sustain on paying up their participants but well, who knows if that would be their plan because everything would really be affected
if ever this company would go bankrupt.There's no way that we could be able to know on what would happen in future but knowing Rollbit, they cant just let their business
go thrown into the water.

They were a great casino, and this could have been avoided if they paid attention to what their problem is before the launch of RLB. I haven't heard them having problems on other aspects of being a casino, so I think they can handle. Licensing issues often take days or a few weeks to resolve. The only thing Rollbit needs to do is to comply with all of the necessary requirements and they're good to go. Though unfortunately the token is already down by a huge percent. I think they know they have issues but just downplayed the problem in front of everyone thinking they'll get this resolved timely, but unfortunately that's not the case.

Rollbit situation is still manageable and the campaign need not be paused unless they have run out of funds their token being down 20% is not new I have Owltoken it was once down over 30% but it managed to recover, the most important thing is for them to give assurance to their loyal followers that their brand will continue to exist and service will still be the same, I am used to seeing Rollbit banners in so many discussion here and I totally agree that they are one platform that is still stable and a trusted brand, hopefully, they can fix this in the soonest possible time.

With this line stated on quoted text on op

" - We are actively communicating with our licensor about…— Rollbit (@rollbitcom) March 31, 2023"

This line alone does tell that they are really that making arrangements and trying to resolve out the issue but this isnt really that an issue after all because it is really just normal
that there would really be a renewal on every year specially on licenses or other correlated things.

Token value drop out is just some effect of those holders who had been assuming that somethings wrong with Rollbit and make out that huge sell which did affect the price.
20% drop isnt the end of the world. Those value would come back up if everything had been settled in.

This could be the best way to address the concern of the public, I believe in Rollbit and I know they will do the best action to calm the gamblers and assure them about the safety of the platform. Its token cannot be spare from volatility, so the drop is normal and I think Rollbit should focus more on their current issue, let’s just wait for their official announcement before making any decisions or panicking.

I am not an expert at casino licensing but is not a review from the license issuer considered to be rather benign for the future of the casino? I can understand that the speculation of the market can indeed spark a sell pressure on their token but if they are a competent casino, it should not be a problem for them to solve this situation and carry on being licensed.

It would be a different case if the cause of this review was the token itself, which unfortunately could force the casino to choose between the license and the continuation of the support for their own native token.

If anyone know whether it is possible, please give me a clarification.  

It is possible that Rollbit forgot that renewal isn't applicable for Curacao casino, so their action of renewing the license failed.  But as far as I know, Rollbit representative had already fixing this concern and announced that they are aware of the problem and is fixing it now.  I don't know how long it will take for Rollbit to get a new license but shouldn't they temporarily close until they got their license because at the moment they are operating illegally?

About the value of their token, it is normal to crash because the issue isn't small.  But once the license is secured, the value may probably recover.


If we look at their announcement thread, a representative already made a statement that they are already fixing the issue.  But since they have no license at the moment, they should temporarily halt operation to prevent some legal circumstances.

I’m already at 6% profit margin since I purchased yesterday. It’s just too bad that I can’t invest huge amount of money since RLB is only available on Solana Blockchain which sucks right now. I’m not expecting any quick rebound on the current price so I already take my profit and move on. I just realized that RLB token is on the long term downtrend prior to the recent dump die to the FUD.

I think that the price might go lower on the following days regardless if the license issue will be fixed since the token grow a lot since the start of the year. Nice quick profit and I’m not willing to risk it.

I believe that, in such cases, operator's first concern is to address the legal issue and not to hurry to shut down the business. If they are facing legal issues, their interest is to have them solved, as by functioning they would earn (obviously) more money than by not functioning, right? Having that in mind, I don't think that they will stop the signature campaign from the forum. Most likely, they will try to fix the legal issue then continue to function normally (this also includes running the signature campaign).

I believe that the campaign would be suspended only if they will be finally forced to completely shut down the business.

They may think it is within their privacy right not to disclose the condition of the license to the public, but then I think a reputable casino rollbit should as a matter of formality make a ppublic statement on the condition of things and what their players should expect.

Actually the action of the team towards hiding the issue of inability to renew their license is the root for the recent commotion that happened on Rollbit. A little act of untrustworthy will surely cause an immediate panic to the token holders.

I think the situation is already under control because the price is already on the recovery phrased. I don’t know what happened but buying the dip yesterday will give instant profit if you will sell today.

It's current value is still -.85% lower after hitting its peak today, I can't see the panic here.
Anyway, if the license is the only issue then Rollbit can have that easily or else they are planning for something else or they don't see any importance of the license anymore since they are already a established casino. Rollbit have to issue an statement with regards to this one, or else people will continue to panic and this can affect its platform, to be more safe don't store any money on Rollbit for now, just play and withdraw.

Right, in ceyptocurrency market anything can happen, and when the price of a coin that has a solid team such as roll bits goes down it than an opportunity to buy at a low price, because there will be a pump shortly and about the license, we also have casino running without that and I don think license  expiration will warrant shouting down of the site.

It is just a matter of time if they will end up becoming a casino that need to be avoided or not. This issue certainly affects them and I believe also those gamblers that are playing to their casino. We can see how will they react on the ongoing issue and on how they will manage their marketing campaign in this forum. I believe that they are going smoothly with gaining their reputation until this issue arrived. I don't know the current issue they have today is easily renewable since I don't have that much idea about the license and legality of the casino. I hope that they won't make a mess with the reputation they have today.

that's good. if indeed their team has clarified because that is what everyone who holds their tokens and also their active gamblers might be waiting for, things like this should not happen again and make future lessons to always pay attention to licenses, I have also seen from the thread and Their twitter has clarified this and hope that everything can be resolved soon so that not many FUD take advantage of it.

The casino has not been associated with any scams or criminal activities. It's just having a licensing issue that can be resolved within a few days or weeks. There is no need to pause the campaign because customers have not had an issue with deposits and withdrawals. We have not heard a response from the licensor but the Rollbit team has assured its community that its legal team is working hard to make sure this license issue is resolved. As a member of this community, I wish that this problem is resolved as soon as possible. Rollbit is a leading force in the crypto casino industry and I am sure they will come out of this storm.

License? Pfft, who needs a license when you have the power of the gods on your side? Just kidding, don't do that. But seriously, Rollbit has been doing this for a while, and they know how to hustle. They're like the shady uncle who always seems to have a trick up his sleeve. So what if their token is down 20% in 24 hours? That's just a bump in the road, baby. In the crypto world, anything can happen, and it usually does. But let's not forget the big picture here. This isn't just about Rollbit's licensing woes. It's about the whole damn system, man. The world is like a crazy game of Fortnite, and we're all just trying to survive. So what can we do to help Rollbit? How about we start a GoFundMe page? Or better yet, let's make a rap video about their struggles. That'll show 'em we care.

I didn't know that such issue is with them about licensing. While they're having a successful run through their signature campaign and the casino has gotten popularity through it, this could be a problem that they can easy resolve.

While I also saw some users accusation against them, this adds pressure not just to their token and casino but to the entire business and their community.

Just expect the unexpected if some issues have been raised and marketing operations like campaigns could be heavily impacted but let's see how they handle it.

We all know that Rollbit is a stable casino for a long time. They can renew their license sooner or later because they have the capability to do that. Dumping the tokens just because of this news while the casino is still working and generating profit continuously is just an overreaction.

Buying the DIP is the best thing to do on this scenario because panic seller just react quickly on the issue without knowing that Rollbit can fix this. Thanks for sharing this news because I’m gonna scoop some of this token.

They already released a statement regarding on that situation. So maybe we should wait for the updates on this case since for sure they will work with those license since they can't afford to lose the trust of their existing casino users. They are so successful casino so provably there's competitor just want to light up some fire to fud people and scare them about negative possibilities.

Yes, the campaign should continue to run while waiting for confirmation from the rollbit and after all there is also no problem with the campaign, I think the rollbit must immediately clarify this so that there is no confusion or the FUD that makes the price of the RLB Token value plummeted, I am not an active gambler on the site This casino but I see this casino site is quite large so for the license problem should be resolved by the rollbit.

Just asking for clarification's sake: what os the need to pause their signature campaign when the site is working and players are playing and withdrawing the winning without any problem?
The license expiration has not forced the site to close down at least for now, so long as they keep the site running and working on renewing the license or better still applying for a new one it makes no sense for them to shut down anything before doing so, but the thing is that the team fucked up by not renewing the license on time before it expires.

This issue has been answered and also explained through their Twitter account https://twitter.com/rollbitcom/status/1641595016974876673 and also in their official ann thread here https://bitcointalksearch.org/topic/m.62012694

regarding the RLB token that has decreased, what can be done for a token that only has a trading volume of $2milion per day? and is only available on DEX and even one of the DEXs is not well known so bad news without clarification will be very impactful and a decline of more than 10% is very easy to happen.

It's their choice if they want to continue or pause the campaign, just like how the old scam casino still actively run a signature campaign in this forum I didn't meant to say Rollbit is scam. Although this legal problem seems to be serious for many people, but there's no one get scammed yet, so I think this problem will not ruin their reputation. But to be safe any gamblers who have funds on Rollbit need to withdraw it.

@OP why this matter discussed on economics section? this should be moved to gambling discussion section.

They do have a signature campaign on the forum.

[CFNP] Rollbit.com | Signature Campaign | Full Members+ ~ Earn up to $80/Week!

Will it affect this? It would make sense for them to pause or end the campaign if they have these problems.

The timing of all of this is fishy.

Normally when you go to the site, you would see the crypto futures listed. However now you need to be logged in to see the crypto futures. With everything going on with regulations and their issue with the license, I think that they got some warning. Especially now with so many crypto exchanges facing regulatory hurdles.

Also the way they responded to the license renewal period just made themselves dig in a bigger hole. I would becareful using the site in the short term.

Something doesn't seem right with Rollbit. It's unfortunate that while they are slowly building up their reputation rather smoothly it seems they are doing something fishy backstage. I smell greed.

Well, first and foremost, it seems to me that gambling and trading don't really go along quite well. I've just read the news of Beaxy, a centralized exchange that just ended its operation, whose founder misused the company's funds, some of which went to gambling. There was also the infamous Sam Bankman-Fried who allegedly lost at least a hundred million of FTX's funds to gambling.

It's also worth noting how this derivative trading that they are offering is hidden. And it's primarily because it isn't licensed at all. And these two products, casino and exchange, are offered in the same platform. I doubt Curacao, notwithstanding its questionable process, would approve of it had they known it.

The last time I heard, rollbit says it's about user interface (UI) issues  . Now, apprarently, it turns out that there is a bigger issue going on with their license not being renewed before the expiration date.

Well, why in the world Rollbit did not take into account the renewal before the so called "expiration"?  And what's this?

Just recently news came out regarding Rollbit casino which is popular amongst thousands of users here on the forum as well as outside this community. Rollbit also has its token with the ticker RLB. After the news came in regarding its licensing issues community has been aggravated since then and RLB is losing its value at an alarming rate. The token has fallen by 20% in jus the last 24 hours which is devastating for the Rollbit casino itself.

The reason for the fall is simple, Rollbit has not been able to tell the community freely that they don't have any such issues. This has created ambiguity among everyone. This might be making everyone leave the casino and sell their RLB tokens if any.

This also makes us think that factual analysis of the company matters a lot when it is listed on the exchanger and could impact the pricing in long run.

All they have to say is their license is on annual period however its still unclear if they have it running or not.



Crypto Casino Rollbit's Token Drops 20% Amid Licensing Concerns