Why Casinos Stopped Operating, When They Win More Than Losing?

[Asuspawer09]

As the topic said, the question just came to mind and I decided to know more reasons. Casinos make profit than losing to gamblers, yet they stopped operation. Sometimes they even stopped operating with gamblers funds which they win. I know that government policies can make a casino to stopped their operation, and that is understandable but whereby everything is good for them to operate, yet they stopped operation. Why? Was it that they were not making profit or workers were not faithful to them for accountability or what?

I have also seen some casinos going offline with exit "scam". What I mean by exit scam. Gamblers wins were not paid but they stopped operation. No contact again and the site offline. What is the caused? Because Initially they made profit.

Governments also have a very strict regulations when it comes to casinos so just one wrong move like not paying taxes is going to be a straight shutdown of the business for sure, but most of the time I guess this was just a mismanage like the owner probably take all of the profit in a business that is why it get bankrupt most of the time this is most of the reason why companies end up bankrupt even for companies that is not casinos.

For sure, a lot of Casinos these days, especially online gambling casinos, end up on an exit scam, probably after gamblers started to trust them, I mean it's difficult to trace an online gambling website and regulate it, so most of them resort to or plan an exit scam. Also, these casinos are still businesses, so that means it is not always a win for sure, even though they are earning a huge amount, but like for example, they are paying out winners, taking away the liquidity of a business, which is very important when running a business. I mean, they pay their staff, operational costs, something like that. But most of the time, casinos are just gonna say that they are having issues with operations that they are going to need to shut down the business, to hide the exit scam.

[Asiska02]

If the casino started with just a small fund as part of a reserve to pay winners and grow from them at their first stage of starting, they might be hit with bad luck and a lucky winner might end up bankrupting them if they don't set a limit to maximum winnings, and when such happens, instead of paying the winner, they can just decide to exist.

Another scenario could also be that their initial plan was never to stay for long but started up attracting enough customers and enough money to meet their scam targeted amount. Once they achieve that goal, they will exist, wait for sometimes and come back with another name as a totally different casino.

The two points you’ve raised are actually the two most common scenario that would have made a casino exit scam. Because it doesn’t just make any sense that you’re already getting the most of attention from people and you’re being patronized well and then the next thing you do is exit scam? It’s probably a planned work initially and they were just waiting for the right time to exit scam and when the opportunity came, they quickly grabbed it and never think twice of waiting even when the profit keeps coming and the casino is getting bigger.

[coin-investor]

I have also seen some casinos going offline with exit "scam". What I mean by exit scam. Gamblers wins were not paid but they stopped operation. No contact again and the site offline. What is the caused? Because Initially they made profit.

It's unusual for a casino to stop operating when it's making a profit. It has something to do with its reputation; they see massive negative reports and feedback that they cannot handle properly, which will likely snowball in the future, so they opted to stop operations.

They see that their users will likely leave their platform due to mounting complaints, so they exit and scam their remaining players. Gamblers should check the reputation of the casino they are playing at from time to time, because it will likely stop their operation, or they will become their next victim.   

[junder]

It's unusual for a casino to stop operating when it's making a profit. It has something to do with its reputation; they see massive negative reports and feedback that they cannot handle properly, which will likely snowball in the future, so they opted to stop operations.

They see that their users will likely leave their platform due to mounting complaints, so they exit and scam their remaining players. Gamblers should check the reputation of the casino they are playing at from time to time, because it will likely stop their operation, or they will become their next victim.   

Certainly, something might happen that's a major and difficult problem to overcome. Even though they're currently profitable due to their growing casino, they're forced to shut down for reasons they can't immediately resolve. But if this happens, they'll likely lose players and their reputation will suffer, as they likely won't explain the reason for their shutdown to their players. Most players will likely feel cheated because the casino shuts down without any clear reason.

[TopT3ns]

I have also seen some casinos going offline with exit "scam". What I mean by exit scam. Gamblers wins were not paid but they stopped operation. No contact again and the site offline. What is the caused? Because Initially they made profit.

It's unusual for a casino to stop operating when it's making a profit. It has something to do with its reputation; they see massive negative reports and feedback that they cannot handle properly, which will likely snowball in the future, so they opted to stop operations.

They see that their users will likely leave their platform due to mounting complaints, so they exit and scam their remaining players. Gamblers should check the reputation of the casino they are playing at from time to time, because it will likely stop their operation, or they will become their next victim.   

Casinos that have endeavoured to shut down, yet they have been doing well, are actually attempting to avoid larger issues. This is not new particularly when they have lost the trust of players. It is important to understand that reputation is an important asset in the world of digital gambling. No business can last long without trust of the user. Thus to be watchful of reviews and other players storeys or experiences out there is essential before we fall in the rut of something that is likely to scam or abscond our money.

[|MINER|]

As the topic said, the question just came to mind and I decided to know more reasons. Casinos make profit than losing to gamblers, yet they stopped operation. Sometimes they even stopped operating with gamblers funds which they win. I know that government policies can make a casino to stopped their operation, and that is understandable but whereby everything is good for them to operate, yet they stopped operation. Why? Was it that they were not making profit or workers were not faithful to them for accountability or what?

I have also seen some casinos going offline with exit "scam". What I mean by exit scam. Gamblers wins were not paid but they stopped operation. No contact again and the site offline. What is the caused? Because Initially they made profit.

This is not difficult to understand because we see many people doing many types of businesses and in the same business one person is profitable while another person is not profitable but has to close that business after taking a loss. Many things can work as facts here like he has less business related skills and knowledge so he mismanages then he has to shut down the business due to loss.
And the same story happens in the case of gambling sites. Here, gambling sites mostly depend on branding and marketing, and when a casino fails to continue these then they have to write their name in the loss account, and in many cases, the site has to be shut down. And in the case of others who are there, there is nothing extra to say, fraudsters will always exit by shutting down

[palle11]

Another scenario could also be that their initial plan was never to stay for long but started up attracting enough customers and enough money to meet their scam targeted amount. Once they achieve that goal, they will exist, wait for sometimes and come back with another name as a totally different casino.

Your first point should be the reason, they already planned to exit with players money when they have built the kind of trust that would make bettors leave their money and winnings on their casino account. It is predetermined not by chance, even when government policy is hard on them they will still make profit and even if they want to decide to pack up, they should inform customers if they are sincere but most casinos that have exited that never opened thread to repay debts determined it.

A casino that is not making profit either due to lack of funds for proper branding and advertising through signature campaign, they don't spoil their image, they run signature campaign for sometime and try to build with the little awareness but to shut down with customers money is exit scam.

[LUCKMCFLY]

Well, when a casino is labeled a scam, it's obvious it won't succeed; it's doomed for life. There's nothing that can be done about it Another possibility is that if it's in a highly corrupt country, it won't survive either. The business might be very lucrative, but without the Necessary tax credentials, government support, or licenses, it will face problems that will constantly be breathing down its neck. In my country, you can't set up an online casino because the government is too corrupt.