Why reputable gambling sites closedown after some years of success.

TimeTeller

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Quote from: milewilda on August 23, 2021, 02:32:17 PM

Quote from: RILWAN on August 23, 2021, 02:27:13 PM

Besides what others have stated before me is the fact that running a casino site is no joke and require continues development which can be some time stressful for the team and they may decide to move on to less stressful ventures such as investment which does not require much skills compared to running a gambling site and another reason is if the casino was running an unregistered site and government unfriendly policy forcing them to close down.

There's no such business that wont really be that stressful for its owner because you would really be needing to mind off about new perks and gimmicks to make your business to be appealing
because if you dont able to retain such thing then expect that there would be drastic effects which might cause for your business to go out of date or would really be overtaken by those competitors.
Gambling industry is really be fierce when it comes to competition and you shouldnt really rest on finding new ideas for people do still able to go into your business.

This is very true, if are a gambling business owner for years, for sure, you've experienced a lot of highs and lows.
And this business will take a serious toll on your mental health. Other than the fact that there are also other factors involved.
Competition, maintenance of the site, other legal requirements and so on.
So it is understandable if some will quit and just venture on another thing.
But it is commendable for some casinos who announced their exit and letting their customers withdraw their funds.
While some just disappear into thin air and never heard again. There is no forever in this world.

alexrossi

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I'd say, if the site is really reputable and had years of uninterrupted uptime, one thing that can really make difference is an hostile legislation about crypto gambling. For instance, currently I know that generally Malta or Gibraltar is used for EU customers, but nothing prevent these two countries to suddenly change the license requirements. If there isn't another good jurisdiction ready to be used, the only choice is to shut down everything.

milewilda

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Quote from: RILWAN on August 23, 2021, 02:27:13 PM

Besides what others have stated before me is the fact that running a casino site is no joke and require continues development which can be some time stressful for the team and they may decide to move on to less stressful ventures such as investment which does not require much skills compared to running a gambling site and another reason is if the casino was running an unregistered site and government unfriendly policy forcing them to close down.

There's no such business that wont really be that stressful for its owner because you would really be needing to mind off about new perks and gimmicks to make your business to be appealing
because if you dont able to retain such thing then expect that there would be drastic effects which might cause for your business to go out of date or would really be overtaken by those competitors.
Gambling industry is really be fierce when it comes to competition and you shouldnt really rest on finding new ideas for people do still able to go into your business.

RILWAN

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Besides what others have stated before me is the fact that running a casino site is no joke and require continues development which can be some time stressful for the team and they may decide to move on to less stressful ventures such as investment which does not require much skills compared to running a gambling site and another reason is if the casino was running an unregistered site and government unfriendly policy forcing them to close down.

Smartprofit

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

I would advise you not to worry about this. I myself often get used to a certain site (to its interface). And I really don't want to start using another site.

However, this is the wrong position. Our world is dynamic. Everything in our world is constantly changing. One gaming site is closed, but another gaming site appears.

The interface is unusual, but that doesn't mean it's worse. You can get used to this too. There are many reasons why this or that project is closed. Usually this is a managerial decision of its owner.

We love to gamble....

However, for the owner of a gambling site, the most important thing is to make a profit.

Slow death

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

what is your view on this?

there are several reasons that can lead casino owners to close their casinos.

1 - Casino owners may not have much time to manage the casino or they may be having a lot of stress with the casino problems and may decide to sell the casino to do another business that gives them less headaches.

2 - Casinos could be bankrupt which would force casino owners to close the casino

harizen

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

If they issued an official statement about why they ceased or temporarily halt their operations, then just follow and believe it even you have doubts.

Only the person or group behind the site knows the real reason and we as users should not go deep asking them if there's something else why decided to quit or called it a good. We won't able to know what is happening behind the scene so there's no reference we can check if there's probably an issue.

For me, that's not a big deal as long as they will settle everything before going for a good exit. Better than running away and turning into a scam sh*t.

Fredomago

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Quote from: Mahanton on August 23, 2021, 01:49:02 PM

Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

Nothing do last forever as always and even how long a certain site or platform or service that had been operating it doesnt mean that it would really be lasting for ages
and there are several factors or reasons on why it do happen.

1. Site owner tends to close because its not profitable
2. Site owner stops and find another path or business to take or career changing
3. Bankruptcy
4. Getting hacked
....

Market is continues, if there's who do go away and new one comes in.

Adding to that is site owner already gained enough and they don't want to face any problem in the long run,.

More on change of plans instead of pursuing their success inside this industry, they've chosen to find another path in hope to get the same results.

Business ventures always have both success and failures. We don't know what the real score behind these two gambling houses.
but we should be happy that they ended up having no problem with all those users who enjoyed their platforms.

maju69

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No need to worry about what you are not in, if the gambling platform is already widely available and offers various options in every time you play. You just need to move from one gambling house to another to make sure that you feel comfortable playing there. Regarding the license experienced by yolodice depends on how they work in managing the casino payments to continue to exist.

Mahanton

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

Nothing do last forever as always and even how long a certain site or platform or service that had been operating it doesnt mean that it would really be lasting for ages
and there are several factors or reasons on why it do happen.

1. Site owner tends to close because its not profitable
2. Site owner stops and find another path or business to take or career changing
3. Bankruptcy
4. Getting hacked
....

Market is continues, if there's who do go away and new one comes in.

Tumanggor

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1xBit.. recovered their reputation

Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

online gambling business competition is very tight, owners who do not have creativity must be willing to see their customers move to other online gambling sites
I see that yolo and betbtc do not have a significant development that makes their customers run to gambling sites that continue to grow such as roobet, betfury etc

it's true what some other members said: "1 or 2 gambling sites that die, then more will appear"

stadus

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The competition is getting tougher, it's either they feel they can't compete anymore or they would pursue another field. The parting words are very positive, they are thankful and we are also happy to play with them as they are a reputable site.

We don't know if the reason they stated is the real reason, but we should not waste time finding out the specific reason as there's still a lot of gambling sites that could offer the same or even better experience these sites are offering.

fiulpro

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

We are in the middle of a pandemic and the fact is that most businesses are shutting down, not just the ones involved with gambling and cryptocurrencies and we have to understand the fact that it's just hard to sum up and pin point regarding who is going to be next but, If they are major trusted casinos then they are giving people time to take their money out.

Therefore even if you decide to invest in a casino like that then you can be rest assured that the casino will take care of it if they are really trusted and good. Therefore this is inevitable for sure but what matters is how the casino handles it.

skarais

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First, you have to remember that nothing lasts forever in this world. Second, each site has its own advantage and disadvantage that can either attract or lose its user base. Lack of visitor traffic can cause site revenues to drop and they are unable to compete with new site. Don't worry, because there are still quite a few other popular site that you can rely on and trust. Remember that the growth of crypto-based online casino is increasing and now you just have to worry that among the many crypto gambling site there are still those who pretend to be legit.

newwest

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There might be various factors involved that dwindling profits as an site as now many competitors are there. Secondly already made good profits for the site and btc back to 50k so why to take more chance and if some whales win big it results in loss of profits so take out the profits and enjoy rest of life. Thirdly could be some other ventures to invest and try it out.

Raflesia

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I'm not worried about that because there are indeed many reasons why famous gambling sites are closed, there are many factors that occur, from competition, changing new homes, business getting tougher, user declines can happen and strong reasons can't be published they are closed what is clear is that they have not left a bad mark in the world of gambling so this closure will be a sorrow for users who previously played there.
For me, yes, this is still a normal thing because casino sites will grow more after a lot of requests and also promotional offers so this will be classy later.

qwertyup23

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Quote from: TheNineClub on August 23, 2021, 07:49:31 AM

I wouldn't worry about it much. One closes another 5 pop up. And there is a bunch of competition otherwise. I think this is more of a reaction to the ecosystem than something that can really be changed, seems like online casinos of the crypto kind are disposable.

That is true. With the increasing popularity of online casinos nowadays, you could literally see one every corner.

I do suspect that the reason behind the closures of these gambling websites stem from their customer service or features. Nowadays, as many gambling websites are starting to surface, lots of them develop new ideas in order to attract more and more people to their website. Some gamblers migrate from one online casino to another resulting to a decrease of the original's website's population.

avikz

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

Online market dynamics is similar to what you are observing. One closes down and another 10 pops up. Nothing is flawless in this market. Also majority of the online casinos are owned by a small group of people operating probably from their own home or garage. That's why many of them are not professional while dealing with their own clients. This happens everytime.

But I personally wouldn't worry much about a casino on the verge of closing down unless they are acamming people. There will be more casinos popping up to fill in the blanks.

JohnBitCo

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Quote from: Jawhead999 on August 23, 2021, 07:57:32 AM

It's more questionable why 1xbit aka scam casino doesn't closing down until now? Tongue

Maybe because they are earning more money from scamming, rather than providing gambling services.

There are so many casino available that even if few of them closes it does not matter much. What matter is that casino should be closed legally and allow its customers to remove funds from the sites and casino.

Fesatmas

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Is your balance stuck at that casino? Honestly, we don't feel worried about it all, apart from the birth of a new casino casino, of course the problems faced will be a big question mark, namely when the date is almost up why the casino doesn't dare to extend its contract ? Aren't they well-known casinos and have a number of great advantages for extending the license period? Isn't it very dangerous for the survival of the casino? and finally proved when they couldn't renew the contract which resulted in the closing of the casino.

masulum

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hmph..

Any company can go bankrupt, generally because of competition problems. they lose innovation with competitors, there are also lost in terms of marketing. Likewise for gambling websites, those who cannot survive for various reasons and one of them could be an operational ban by the country where the gambling website operates. Websites need traffic, when traffic decreases it means gamblers also decrease, while operational costs for employees and servers continue to run without any decline. This then caused the company's have internal financial problems and became another reason why the famous gambling websites went bankrupt or closed.

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Quote from: dustboy on August 23, 2021, 08:36:35 AM

What are you worrying about? They are closing down for goods, not exit scam so I do not think anyone should be worrying about it. You should be worrying more about scam sites that still operating for years but I think you are not worrying about it as long as you can earn some money from the scam site. Am I right?

Agree to it; it's an indication that the platform's developers or owners are already rich and don't need to spend any more time developing and updating the platform. There are a variety of factors to examine, such as whether they've changed careers or discovered something more exciting than operating a gambling platform. As long as they don't scam people, I think it's fine; it's their decision, and we all know that we don't always have to work our entire lives; sometimes it's preferable to be content with what we have and live a peaceful life.

madnessteat

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There can be many reasons for closing a well-known gambling site. It is quite possible that the owner of the gambling site has decided to change the scope of their business or buy a new house. Besides, as Vaskiy wrote above, most of the sites that are closing down fulfill their obligations to the users before the closure.

dustboy

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What are you worrying about? They are closing down for goods, not exit scam so I do not think anyone should be worrying about it. You should be worrying more about scam sites that still operating for years but I think you are not worrying about it as long as you can earn some money from the scam site. Am I right?

Vaskiy

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Nothing to worry on the closure of reputed gambling sites, because with time more and more number of new gambling sites with legitimate functioning is getting launched. No reputed sites give reason on the closing of gambling sites. At an unexpected time period suddenly closing notice is released. Till date most of the gambling sites on closing has settled all the funds withdrawal, very few have cheated it's users.

iv4n

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Quote from: Jawhead999 on August 23, 2021, 07:57:32 AM

It's more questionable why 1xbit aka scam casino doesn't closing down until now? Tongue

It's questionable how they are staying alive through the years?! But they do, crazy world crazy people I would say!

Quote from: TheNineClub on August 23, 2021, 07:49:31 AM

I wouldn't worry about it much. One closes another 5 pop up. And there is a bunch of competition otherwise. I think this is more of a reaction to the ecosystem than something that can really be changed, seems like online casinos of the crypto kind are disposable.

I agree with you, crypto casinos are disposable. We have just a few of them who last for years, on the other side I know many who closed their doors for some reason. I think there isn't some general explanation for that except this is crypto, everything around is in the development stage, and simply many projects don't survive that.

virasog

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Quote from: Tessnik on August 23, 2021, 06:19:44 AM

recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

Some sites may have personal problems or they are not getting the required revenue but majority of the old casino sites which are good and trusted aren't closing. I think no business would close if its profitable and in worst scenario the owner may sale his business (gambling site / business in this case) if he is unable to manage it.

Jawhead999

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It's more questionable why 1xbit aka scam casino doesn't closing down until now? Tongue

TheNineClub

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I wouldn't worry about it much. One closes another 5 pop up. And there is a bunch of competition otherwise. I think this is more of a reaction to the ecosystem than something that can really be changed, seems like online casinos of the crypto kind are disposable.

Tessnik

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recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.

First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.

what is your view on this?

Topic: Why reputable gambling sites closedown after some years of success. (Read 235 times)