Nothing lasts forever in our world (except for human stupidity, of course, but we will not make spiteful comments about it). As in any other field of business, new gambling portals that periodically appear in online gambling and old websites stop operating. Sometimes even popular and flourishing casinos with many active customers shut down their activities completely.
Top Reasons Why Casinos Shut Down
Why does this happen? What makes operators close down their facilities? And what should gamblers do if their favorite sites have announced the shutdown of activities? Our article below answers these and many other questions.
Let's emphasize the primary reasons for closing online casinos but first, here are several working and thriving casinos.
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Bankruptcy
Laypersons believe that the gambling business is an inexhaustible source of easy money. However, those who know it from the inside will confirm that:
Not all casinos bring profits.
The famous saying "If you want to beat a casino, buy a casino" is a convincing argument in the disputes of housewives, but it is far from reality.
Websites that offer gambling-related services can shut down for several reasons.
- Competition. It has become much more difficult to occupy a place in the sun of the online gambling market. Even experienced companies face problems maintaining their position because they are chased by new portals that attract customers with crazy bonuses and promotions. Many operators leave the race, unable to withstand the pressure of competitors.
- Poor management. Launching a beautiful site with several hundred slot machines, welcome bonuses, and a loyalty program is not enough to succeed. This is a complicated business. To survive in it, you need a team of specialists from different fields. Even up-and-coming projects often fail because of just one weak link.
- Lack of advertising. Even the best online casino without a single flaw goes bankrupt without customer access. Casinoz gambling experts often come across really high-quality gambling websites, which are known to a limited circle of users. By cutting corners on advertising, their owners lose potential customers and, as a result, shut down their websites.
- Fraud. Internet casino is a tidbit for hackers, bonus hunters, and other scammers. If a gambling house does not pay attention to safety, it can become a victim of fraudsters. It has been reported in some cases when small gambling sites go bankrupt, failing to cope with attacks of cheaters.
- Black PR. Competitors do not always act honestly. For example, they can arrange a large-scale campaign to destroy their competitor's reputation. Negative reviews on all the leading forums, low rates, and other tricks of black PR can tarnish even the best reputation. As a result, the casino remains without customers, and its owners have to shut it down.
- Bad luck. The odds can be against not only gamblers. Gambling operators can also suffer from the capricious Lady Luck. Imagine a new gambling club that is visited by a well-known high roller. They start to play, making the highest bets, winning, taking the money, and disappearing. Such a scenario can quickly destroy an online casino with a small capital.
Websites usually go bankrupt for several reasons, but all of them can be limited to the lack of professionalism in the management team.
Acquisitions and Mergers
The fittest survives not only in the jungle or the ocean. The same law applies to the gambling business.
Giant corporations acquire small gambling operators, killing two birds with one stone: they purchase an established business and remove a competitor.
In such situations, they often shut down acquired casinos, and their customers are transferred to another gambling house on favorable terms.
Similar things happen when two companies join forces and launch a joint gambling website instead of the two former ones.
In such situations, users usually do not lose anything. Moreover, they can receive additional benefits. It is only necessary to carefully study the new rules and conditions because they can differ significantly from the old user agreement.
Rebranding
Sometimes online casinos completely change the title, design, set of games, bonuses, and a range of other services. This may be due to the changed owners or an intention to start everything from scratch.
We recommend that you should figure out the motivation of operators. Perhaps they have been accused of fraud, refusal to provide bonuses, or cheating with rewards for a long time. Under such circumstances, many casinos try to cover tracks by rebranding.
Rebranding is not always bad, but you should stay alert.
Firstly, you should find the official version by contacting the support service for clarification. Then read the comments under the review published on the Casinoz portal, ask questions on the forum, and search for information using Google and Yandex. Sometimes it is possible to find fascinating information about casino owners.
Fraudulent Activities
Fraudulent online casinos have significantly decreased in number recently. Licensing and controlling authorities are trying to put things right in the industry. Regulators are more scrupulous in issuing permits, and governments of different countries pass laws regulating online gambling portals' activities.
The Casinoz portal and other sites dedicated to gambling help fight unscrupulous gambling operators. We provide reliable information about casinos that do not pay out winnings, cheat with bonuses, send spam, offer pirated software or are involved in any other kind of fraudulent activity.
Such activities cause considerable problems for scammers. They lose the credibility of potential and real gamblers, remain without customers, and have to shut down compromised casinos. Of course, most such operators run several gambling sites at once and make rebranding without any problems to cover up the tracks, but sooner or later, the truth comes out.
If you trust your funds to a casino from the "black list," and it will stop its activities, you most likely have to say goodbye to your money. It is almost impossible to find justice. Thus, you should not deal with such gambling operators.
Many articles on the Casinoz portal deal with the methods for recognizing fraudulent online casinos. Let's enumerate their main features:
- No license. Please don't be lazy and check it on the regulator's website. Logos in the footer mean nothing—fake games. You should learn how to find out fake casino games.
- No independent auditors' certificates. The most reliable websites invite experts from independent organizations to perform their audits.
- Numerous negative comments and low rates. You should become familiar with feedback from other customers.
- Too generous bonuses. Scammers often attract gullible customers with stunning promotions. If you are promised a 1000% bonus with the lowest wager, you should think twice before accepting it.
- Unprofessional support. If the support service staff is unfriendly and consists of incompetent employees, you should avoid such gambling websites.
- Ambiguous terms and conditions. A very brief user agreement indicates that it is written for appearance.
We recommend that users should read the casino reviews published on our portal. Experts from Casinoz describe in detail all the pros and cons of gambling houses. It is also recommended that the opinions of gamblers be paid attention to, as they are available in the articles.
Legislation Features
Sometimes online casinos are closed down only in certain countries and regions. This happens if gambling houses were initially opened with some violations of local laws or when the government tightened the legislation.
Reputable gambling portals always return customers their funds in such cases.
Changes in the Licensing
Gambling regulators often increase fees charged for licensing. If the license fee rises sharply, gambling operators may find it unreasonable to keep casinos operating.
Reliable portals will never steal money from their clients.
Tips for Online Casino Customers
Unfortunately, gambling sites can be closed. None of the fans of gambling is immune to such situations. To be protected against financial losses at least partially, follow the advice of the Casinoz reviewers:
- Don't gamble at unreliable casinos;
- Avoid clubs from the Casinoz blacklist;
- Prefer world-renowned operators who have been operating in the gambling market for a long time;
- Follow the customers' feedback; Pay attention to the delay in payouts and other unfavorable signs;
- Be skeptical concerning too generous bonuses for newcomers;
- Read the news on gambling websites;
- Contact the support service representatives, ask them questions, and observe their reactions.
See how the wind blows, and you will notice the first signs of a collapse. This news will not appear out of the blue sky. When you suspect problems in casino affairs, stop making new deposits and withdraw money from the account, leaving the amount you need to make bets.
How to Return Your Money from Unfair Casinos?
Reliable operators return customers the funds available in their accounts, but it is pretty challenging to withdraw the money left in the account.
- Contact the managing company directly and threaten to file a lawsuit.
- Write to the gambling regulator.
- Contact the organizations that act as independent intermediaries to solve problems.
Note:
You can submit a complaint against an online casinos on Casinoz.
If you fail to get your money, address the lawyers who are specialists in this issue.
Conclusion
The best way to avoid being deceived and feel protected from risks is to gamble at large online casinos with a long history, perfect reputations, and high service levels. They don't offer the most favorable conditions, but you can be sure they are not fraudulent.
Have you ever found yourself in situations where your money has been frozen in the casino account? Have you succeeded in returning your funds? Share your experience with readers of Casinoz in the comments.
