Should Online Casinos Publish Their Bankroll? Your Thoughts? - page 3.

PytagoraZ

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Jolly? I think I've heard that name before. hmm

Quote from: JackpotRacer on March 14, 2024, 08:04:01 AM

I look forward to hearing your thoughts.

Why do you add color to your posts? not at all fun to read

I think there is no need to publish their bankroll to the public. Do you know of any casinos that publish their bankroll? If yes, what is the percentage and how does it impact the trustworthiness of their casino? To be honest, I don't know if any casinos publish their bankrolls because that would be dangerous and possibly a target for hackers.

Additionally, you also don't seem to have the capacity to force casinos to publish or tell you how much bankroll they have, unless you have some authority in the area, such as a casino auditor, gaming provider or licensing provider.

Dewi Aries

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Quote from: swogerino on March 14, 2024, 01:14:51 PM

As long as reputable casinos continue to pay huge amounts in a very fast amount of time by just doing their regular checks before releasing the withdraw no matter the amount of money requested this means they are very healthy in terms of financial stability and that is enough for most players.

However I agree that if they publish the bankroll this can further boost their earnings as most people that play there will use that as an argument to people wanting to join a casino and convince them,so that is a good move also and I don't see any danger in any reputable casino by doing so.

Money has quite a sensitive nature and I think casinos will think and consider everything from various sides before they decide to publish all the company's money to the public eye, and I'm sure it's not easy. On the other hand, it actually doesn't need to be that complicated to increase the trust of the public or most gamblers and the popularity of the casino, because there are still other ways as you said here that by providing an above-average level of service such as responding to gamblers' complaints quickly or providing something according to what is needed and also by always being able to pay gamblers who manage to get any amount of winnings quickly.

I think this alone is good enough to increase the popularity of the casino, because usually when someone gets a very good and fast service then they will not hesitate to promote it to others especially fellow gamblers they know, and this is also what I do when I get good service somewhere in any case and not in the world of gambling alone, but overall yes all decisions are on the casino itself and if it turns out they don't do this then maybe this is not a good way or suggestion to do according to them.

coolcoinz

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You're asking about pros and cons, so here's mine:

P.
-Transparency. Showing an address with their bankroll and signing a message with it shows people the business is real and can be trusted. It of course can be faked because you can ask someone rich to vouch for you, while your real address is much smaller, but it's a step in the right direction and if any analysts prove that it was manipulated your company will take a PR hit.

C.
-vulnerability. By making an address public you're opening yourself to attacks, especially when your business is small. The attackers will know how much they have to bet to potentially bankrupt you, but it's up to you to limit their max bet in such case. Also, by analyzing the outflows they can find out what your exchange is, which can lead to some dangerous situations if an exchange goes down and somebody publishes that it could affect you.

AmoreJaz

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Quote from: Mia Chloe on March 14, 2024, 02:56:13 PM

Of course the use of bankroll on a casino page will definitely attract gamblers into venturing the games and gambling activities they have to offer. The fancier the bank roll the more customers are attracted to them in some cases. However aside the bank roll stuff, a good reputation has a strong role to play in how incoming gamblers view a casino. Even if the casino uses a very fancy bankroll to draw gamblers attention, the whole scheme will eventually fade off if they are not able to perform properly is a similar manner the information the bank roll is trying to pass and this could eventually make them lose customers.
Displaying their bankroll is not a very necessary thing as some persons are not moved by them especially because these day some casinos fake bankrolls just to get a bulk audience.

In the early days of crypto gambling, I understood that we used to ask the bankroll of the casino just to know if the casino has the capability to pay winnings or not. But these days, I don't think it is necessary as there are measures that you can check if the casino is capable of paying their players or not.

And as you mentioned, about faking bankrolls. That is true, can we really get the actual numbers in case casinos make their bankrolls public? I don't think so. Instead, we can look for other aspects that can manifest that the casino is doing good in terms of their finances, such as -
> no withdrawal complaints
> fast withdrawal or no delayed payments
> can afford to release big winnings in a timely manner
> can run high stake contests
> can afford to pay popular celebrities or personalities as Ambassadors of their site

Findingnemo

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Letting the bankroll for the public will create security concerns because if it's big amount then the hackers might target more attacks on specific casinos than they usually do and this may result in breach as well so let it be the casino's choice whether the bankroll is known for public or only for themselves.

Another possibility can be making it visible only for top tier players that can satisfy what you are asking and also mitigate the security concerns.

Mia Chloe

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Math + Code = Blockchain 😁

Of course the use of bankroll on a casino page will definitely attract gamblers into venturing the games and gambling activities they have to offer. The fancier the bank roll the more customers are attracted to them in some cases. However aside the bank roll stuff, a good reputation has a strong role to play in how incoming gamblers view a casino. Even if the casino uses a very fancy bankroll to draw gamblers attention, the whole scheme will eventually fade off if they are not able to perform properly is a similar manner the information the bank roll is trying to pass and this could eventually make them lose customers.
Displaying their bankroll is not a very necessary thing as some persons are not moved by them especially because these day some casinos fake bankrolls just to get a bulk audience.

Rruchi man

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Quote from: Nwada001 on March 14, 2024, 01:11:48 PM

This will really help; at least players will know what they are going for. For example, VVIP players who play with a large amount of money should also be able to know if the casino can pay off a large amount of winnings if they win.

But do you really think that any casino will be truthful enough to publish a low bankroll not having enough money to pay out gamblers if they win big? Doing so may directly affect their business, scare customers away.

Quote from: Nwada001 on March 14, 2024, 01:11:48 PM

Showing their bankroll shouldn't be the only thing here; at least there should be a level of transparency to verify if the funds made public are truly there or if they are from somewhere else.

The process of verification can also be manipulated.

Quote from: Nwada001 on March 14, 2024, 01:11:48 PM

All of the big casinos we have today all started small before they got to where they are now.

Not all casinos started small, some casinos started big with a lot of funding, and have been able to maintain the standard.

qwertyup23

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I definitely agree as this associates with the genuinity of a gambling website.

The problem with some of the gambling platforms is that they tend to claim that they will offer withdrawals for its users and even reward prizes but when a player wins a huge amount of money, they suddenly block their withdrawals out of no reason. Additionally, there are other gambling platforms who claim that they guarantee withdrawals but at the end, they tend to deny such winnings due to technicalities that they artificially created.

By posting their bankrolls, not only do its users see the current state of the liquidity of cash but also this gives them a guarantee that the company can supply withdrawals from what they promised to. This not only boosts their reputation but this can give them an impression that they are willing to supply its users with rewards.

In conclusion, I do think that online casinos SHOULD publish their payrolls to its users.

Davidvictorson

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Thank you bringing up this very important discussion.
I wouldn't say I care if online casinos publish their bankroll. If this would attract big players cannot be based on their publication of their bankroll. Other features are involved in attracting big players which are years in business, reputation, marketing strategies, reviews, UI/UX, payouts, customer support etc

Whati think would have captured the overall view of the community would be if you had created a poll. It would have been interesting to see their votes and them read their views.

ryzaadit

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Usually for new-casino, really need to that because is to make sure they have money to be paid not based the deposit they're collecting. However, for a big online casino you can search by your self from the transaction you are made from the casino. Usually they will transfer your money using the hot-wallet and you can see how much money they have on different chain as well.

piebeyb

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They don't have to publish it, after all, it's the same as baiting hackers to steal it, after all, there are many cases where some casino sites experience hacking and lose some of their money, even though in fact I never believe in hacking, it's the work of hackers, this casino is the most promising business for anyone who has Money can of course build this site but I'm sure the costs of building an online casino are definitely less than building a large offline casino, an online casino can be run by just a few people.

So it's possible that they won't be able to display their money to the public, they don't have enough money to show, so running this business without having to have a lot of money can already be run because casinos or gambling sites are designed to print money for their owners, so don't be surprised if the bookie always win because they have set it up to win and get money from all their users, just take a look out there there are no sites that honestly and openly publish their money at the start, I don't think there will be any because they run this business don't have to have big money in fact they can make a lot of money from their online casinos. Grin

dothebeats

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Some casinos used to do that. They do it for transparency purposes to let gamblers know that they have the money to back up with their operations. It's a good thing they did that before, as there were a lot of scam casino operations back then that run once they got a huge payday or when they can no longer pay their customers back. In today's landscape, I see no need for casinos to do this, though it will be appreciated by the community as it's an effort they're taking to let their playerbase know that they really have the budget to pay out the winnings of their gamblers.

masulum

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hmph..

As far as I remember, few years ago is there a casino that announced total players bankrolls every day. This is quite interesting, but I don't understand whether it is only in one country or in all countries. For me, that doesn't matter, because as long as they are a legitimate company, even without bankroll publication we will believe that they won't scam us. something that made me interesting on this, we can see the total of the losses or wins obtained by players, I even saw one day the casino experienced a minus, because total withdrawal is higher than deposit. I don't have a screenshot about this, since it happens few years ago.

OgNasty

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On one hand it is their money and if they are privately owned it is nobody’s business. However, gamblers should be entitled to know their deposits are accounted for and that there is money to be won. Not to mention Bitcoin makes it possible to do easily, so it makes a lot of sense for casinos to prove a portion of their reserves on the blockchain.

Cantsay

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It will indeed attract high rollers to that casino but the problem arises when scam casinos start to adopt that strategy.

A scam casino can easily look for loans (or anywhere they can acquire money) and display it as their bankroll which will eventually boost the confidence of high rollers to use it and make huge deposits knowing that they are capable of handling a high payment (in the case of them winning), but instead of them paying they'll lock your account and run away because they have successfully achieved their goal.

Sorry, a quick question:

I believe that small casinos always have in their ToS the amount a user can withdraw within some timeframe. Can't high rollers use that to judge if that casino will be able to handle them or not?

seoincorporation

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I think there are only a small number of casinos with a big bankrolls, and that's why most casinos have a withdrawal limit each day/week/month, I don't think that's a fair play because if the game allows you to win 100k, then the casino should allow you to withdraw that amount.

So, i agree with OP, casinos should be transparent with the users and have a public bankroll, it should even be a requisite to get a gambling license. That way users will know if they can trust on the site or not.

Odusko

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Of what use it is to have high fake bankroll and still end up scamming players, off course we know how risky it is with most of this services when it comes to prove of funds, this can be faked at anytime and we shouldn't give that a thought when we making choice on which casino to trust.
They can display fake volume, just as exchanges display fake volumes just to attract traders and build a fake trust or believe in them, the best approach is for the casino to have long track records of positive operations and being among the leading casinos in the industry.

swogerino

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As long as reputable casinos continue to pay huge amounts in a very fast amount of time by just doing their regular checks before releasing the withdraw no matter the amount of money requested this means they are very healthy in terms of financial stability and that is enough for most players.

However I agree that if they publish the bankroll this can further boost their earnings as most people that play there will use that as an argument to people wanting to join a casino and convince them,so that is a good move also and I don't see any danger in any reputable casino by doing so.

Nwada001

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This will really help; at least players will know what they are going for. For example, VVIP players who play with a large amount of money should also be able to know if the casino can pay off a large amount of winnings if they win.

Showing their bankroll shouldn't be the only thing here; at least there should be a level of transparency to verify if the funds made public are truly there or if they are from somewhere else. Another thing here is that having a large bankroll doesn't guarantee that a casino is not going to scam its customers.

The level of trust that is to be derived from casinos is not determined by the bankroll they made public or what they promised their customers, but rather by how constant and fast they have been able to pay out large winnings from their casino to their customers without any form of complaint or sheddy behaviour to deny the withdrawal. All of the big casinos we have today all started small before they got to where they are now.

cabron

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Can't force them to make it public but sure it's a good idea to ensure the public they have the funds. It's a matter of transparency but this will also expose them to people who will try to ruin their reputation to their bankroll alone. Can't say it should be imposed on all after all there is no regulatory board that will make them do it for the casinos in crypto.

Let's say the casino's bankroll is already dwindling and people know about it. They might not be able to emerge from his blow because when gamblers see it, they will avoid playing at this particular casino.

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