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[Hispo]

Their reputation can be repaired if the website is sold to a different operator and that operator decides to go through some kind of rebranding and compensation.

Now that you mention it, you've reminded me of what happened with Full Tilt Poker. Basically, it went bankrupt, and for years I wrote off the money I had there as a loss. But eventually, PokerStars bought it and returned our money. A buyout like that might make sense because of the huge user base. At first, the acquiring company has to make an investment to cover the shortfall—the money missing due to the bankruptcy—but over time, thanks to the huge user base, it could turn out to be very profitable for them.

It is not impossible, just extremely unlikely to happen.
It is obvious the current administration of the website does not have any intention to safe face within all this mess, so it would be foolish to play along and assume they are going to suddenly start sending Bitcoins to all their investors and gamblers.

Yes, realistically speaking, it’s most likely that the sale has already gone through, and it doesn’t look like things are going to get any better.

It would need to be a big casino or bookie which does not only have enough money to buy the property of the website, but also to have enough money to refund all people who have lost money to this exit scam.

Also, I nada no idea pokerstars actual did something like buying a closed service and also acquire it's debt in order to attract more players, it is a very good option to make even more money in the long term, but we also need to be realistic and keep in mind there are very few companies which would dare to take such risk and have the patience to work in the long term.

Stake would easily buy Freebitcoin and refund people on their behalf, but I don't think Stake would have any reason to acquire it, when it is already a very well recognized casino on the internet.

[dwyane36]

Their reputation can be repaired if the website is sold to a different operator and that operator decides to go through some kind of rebranding and compensation.

Now that you mention it, you've reminded me of what happened with Full Tilt Poker. Basically, it went bankrupt, and for years I wrote off the money I had there as a loss. But eventually, PokerStars bought it and returned our money. A buyout like that might make sense because of the huge user base. At first, the acquiring company has to make an investment to cover the shortfall—the money missing due to the bankruptcy—but over time, thanks to the huge user base, it could turn out to be very profitable for them.

It is not impossible, just extremely unlikely to happen.
It is obvious the current administration of the website does not have any intention to safe face within all this mess, so it would be foolish to play along and assume they are going to suddenly start sending Bitcoins to all their investors and gamblers.

Yes, realistically speaking, it’s most likely that the sale has already gone through, and it doesn’t look like things are going to get any better.

It would need to be a big casino or bookie which does not only have enough money to buy the property of the website, but also to have enough money to refund all people who have lost money to this exit scam.

Also, I nada no idea pokerstars actual did something like buying a closed service and also acquire it's debt in order to attract more players, it is a very good option to make even more money in the long term, but we also need to be realistic and keep in mind there are very few companies which would dare to take such risk and have the patience to work in the long term.

Stake would easily buy Freebitcoin and refund people on their behalf, but I don't think Stake would have any reason to acquire it, when it is already a very well recognized casino on the internet.

I don’t think that would work in the case of Freebitcoin. First of all, it’s unclear how much money users actually lost. And second, after the whole thing, the name "Freebitcoin" itself is now associated with a scam, rather than something trustworthy as it used to be. So, I don’t think any major casino would want to get involved with this and spend its resources on restoring this site’s reputation.

[Synchronice]

Their reputation can be repaired if the website is sold to a different operator and that operator decides to go through some kind of rebranding and compensation.

Now that you mention it, you've reminded me of what happened with Full Tilt Poker. Basically, it went bankrupt, and for years I wrote off the money I had there as a loss. But eventually, PokerStars bought it and returned our money. A buyout like that might make sense because of the huge user base. At first, the acquiring company has to make an investment to cover the shortfall—the money missing due to the bankruptcy—but over time, thanks to the huge user base, it could turn out to be very profitable for them.

Honestly, I don't know the story of Full Tilt Poker and Pokerstars (I only know Pokerstars, I have no idea about the second company). Can you tell the story? I think FTP meant a lot for Pokerstars to acquire it and return money to the players. By the way, I wouldn't say that Freebitco has that chance. The domain name itself is good for faucet business but who wants to run a faucet business these days? Especially around Bitcoin? If someone creates a mixture of faucet and crypto casino, then it might work. By the way, to my mind, the main power of Freebitco is the SEO power of this domain.

[Hispo]

Their reputation can be repaired if the website is sold to a different operator and that operator decides to go through some kind of rebranding and compensation.

Now that you mention it, you've reminded me of what happened with Full Tilt Poker. Basically, it went bankrupt, and for years I wrote off the money I had there as a loss. But eventually, PokerStars bought it and returned our money. A buyout like that might make sense because of the huge user base. At first, the acquiring company has to make an investment to cover the shortfall—the money missing due to the bankruptcy—but over time, thanks to the huge user base, it could turn out to be very profitable for them.

It is not impossible, just extremely unlikely to happen.
It is obvious the current administration of the website does not have any intention to safe face within all this mess, so it would be foolish to play along and assume they are going to suddenly start sending Bitcoins to all their investors and gamblers.

Yes, realistically speaking, it’s most likely that the sale has already gone through, and it doesn’t look like things are going to get any better.

It would need to be a big casino or bookie which does not only have enough money to buy the property of the website, but also to have enough money to refund all people who have lost money to this exit scam.

Also, I nada no idea pokerstars actual did something like buying a closed service and also acquire it's debt in order to attract more players, it is a very good option to make even more money in the long term, but we also need to be realistic and keep in mind there are very few companies which would dare to take such risk and have the patience to work in the long term.

Stake would easily buy Freebitcoin and refund people on their behalf, but I don't think Stake would have any reason to acquire it, when it is already a very well recognized casino on the internet.

I don’t think that would work in the case of Freebitcoin. First of all, it’s unclear how much money users actually lost. And second, after the whole thing, the name "Freebitcoin" itself is now associated with a scam, rather than something trustworthy as it used to be. So, I don’t think any major casino would want to get involved with this and spend its resources on restoring this site’s reputation.

All comes down to profitability, if Freebitcoin owns a couple of million of dollars then it would be profitable for a major casino to acquire the url and website, offer gamblers their money back slowly but steadily, as the new administration uses the name of Freebitcoin to get money in.

Actually, the reputation of this casino is not broken and tarnished beyond repair, it just takes some campaign on the fact they could have a new administration and the gradual refund to their gamblers.

A huge casino could start a faucet-based service with the name of Freebitcoin and get those millions of dollars in a few months, if the traffic is high enough, even though faucets are not what they used to be back in the day, they can still be profitable.

[Free Market Capitalist]

Honestly, I don't know the story of Full Tilt Poker and Pokerstars (I only know Pokerstars, I have no idea about the second company). Can you tell the story?

Basically, Full Tilt Poker was one of the biggest online poker rooms in its day; you could see the top poker players promoting the site with T-shirts and other merchandise at the World Series of Poker back then. On the day known as Black Friday in poker, April 15, 2011, it was seized by the DoJ for allowing American players and on charges of fraud. There were already rumors circulating before it happened, so I withdrew half of my bankroll from there, but then I kind of lost the other half.

I don't remember exactly how it happened, but later PokerStars bought FTP, which had a financial shortfall. For all of us who had funds in FTP, they were credited to our bankrolls. and that's simply because, even though PokerStars had to make an initial investment in it, the customer base was expected to generate profits over time—which is exactly what happened.

This isn't unique to casinos; in certain cases, it may make sense to buy a bankrupt company and pay off its debts if, based on its revenue and customer base, you expect it to become profitable over time.

By the way, I wouldn't say that Freebitco has that chance.

Yes, that's exactly what I said earlier. The site has probably already been sold, and given how the situation is being handled, it doesn't look like we're facing a scenario even remotely similar to what happened with FTP and PokerStars.

[virasog]

I don’t think that would work in the case of Freebitcoin. First of all, it’s unclear how much money users actually lost. And second, after the whole thing, the name "Freebitcoin" itself is now associated with a scam, rather than something trustworthy as it used to be. So, I don’t think any major casino would want to get involved with this and spend its resources on restoring this site’s reputation.

You raised a valid point here and I think freebitco missed the trick here. If freebitco wanted to close the casino (for whatever reason) , they could have opted to sale the casino. At that point, freebitco was very trusted casino and anyone would have shown interest in buying it and also at a fairly good price. This way would have been far better than the way freebitco owners started to scam and collected money illegally by scam gamblers.

Right now, If anyone buys this casino, it will be hard to them to regain the trust and it will take a lot of time making gamblers again believe in this casino.

[dwyane36]

All comes down to profitability, if Freebitcoin owns a couple of million of dollars then it would be profitable for a major casino to acquire the url and website, offer gamblers their money back slowly but steadily, as the new administration uses the name of Freebitcoin to get money in.

If the freebitcoin domain and the website as a whole were put up for sale, I think many parties, including major casinos, would try to buy it, as it would be an excellent opportunity to attract a multi-million-user audience to their platform via a redirect. However, for some reason, the owners of freebitcoin decided to renew the domain registration for several years. To be honest, I still don’t understand their decision, since they didn’t try to restore their reputation and the platform's functionality afterward; on the contrary, they decided to shut down the site shortly thereafter.

[Agbe]

I don’t think that would work in the case of Freebitcoin. First of all, it’s unclear how much money users actually lost. And second, after the whole thing, the name "Freebitcoin" itself is now associated with a scam, rather than something trustworthy as it used to be. So, I don’t think any major casino would want to get involved with this and spend its resources on restoring this site’s reputation.

The risk of buying this casino is high. After buying they have to regain people trust by refunding to all the people who lost their funds. And that will be a large amount of money. And after making all the refunds if a major company bought the freebitco casino, people will not trust the new management as the freebitco casino is concerned. Though people will participate since it is not the same operators but in a minimal way. So it will not affect them if anything happens again. B.C Game came back with a repented heart and after gaining trust in the forum. Still scam people again.