OFFICIAL APOLOGY FROM CRYPTOWISSER.COM

[cryptowisser]

We would like to apologize to all members of the cryptocommunity. We apologize that we have listed cryptocurrency casinos on our site. As of 3 April 2019, we have removed our Cryptocurrency Casino List and all cryptocurrency casinos featured in it from our site.

Why remove them?
Recently, it became law that European forex trading platforms (such as IG) had to present data on how many of their traders that lost money, as opposed to made money, at their platform when trading CFDs. On 12 February 2019, IG announced that 81% of all their retail investors lose money.

This figure is without a doubt way higher at online casinos. However, online casinos are not under any legal requirement to announce how many of their players lose money. A reasonable assumption, confirmed by inside industry information, is that at least 90% of the players at online casinos lose money.

We then asked ourselves – do we really want to send people to sites where they, with more than 90% likelihood, will lose money?

The answer was no.

Our ambition is to open the doors to the cryptocurrency world to everyone, to help out with exposing scams and ultimately to grow the cryptocommunity. Listing exchanges, wallets, debit cards and merchants achieves that ambition. Listing online casinos does not.

Why did we list them in the first place?
When starting a site from scratch, every dollar counts. For us, every dollar still does. In the desperation to make money that we could cover operating costs with, we searched high and low for profitable affiliate deals. Needless to say, there are plenty of them in the online casino industry. So, we concluded that we should list online casinos, so that we could make money from referring customers and use that money to pay operating costs.

With the information we now have at hand, we deeply regret that decision. And we apologize for making it.

A general observation
We’re not saying that all of our competing crypto sites that have online casino banners want to parasite on the cryptocommunity and its members. Honestly, we don’t. However, a general observation is that Coinmarketcap, CoinGecko and Blockonomi constantly feature online casino banner ads on their respective sites, whereas BitcoinExchangeGuide and CoinSutra does not.

In this context, we feel a much closer connection to BitcoinExchangeGuide and CoinSutra, in spite of them also both being our competitors.

Cryptowisser today
We want to be a company that focuses on being to the benefit of members of the cryptocommunity. Not a company that focuses on profiting from members of the cryptocommunity. Naturally, we hope that our focus in the end also becomes profitable for us. But never at the expense of us being true to our main mission.

Today, Cryptowisser.com runs the world’s largest cryptocurrency exchange list – listing close to 400 different exchanges with individual reviews for all of them. No other list in the world even comes close to those numbers or to being so comprehensive.

We also have three additional list categories: a cryptocurrency wallet list, a cryptocurrency merchant list and a cryptocurrency debit card list.

Happy to receive your feedback
Again, we apologize that we up until 3 April 2019 listed cryptocurrency casinos on our site. We have now removed them all. Moreover, we will also, following a short transition period, not sell any advertising spaces to cryptocurrency casinos either.

We would love to hear whether you think this is the right action or not. However, we will not, based on your feedback, change our decision. Nevertheless, we are always humble to hear the views of other members of the cryptocommunity.

Thank you all in advance.

[AlexBeaulieu]

We would like to apologize to all members of the cryptocommunity. We apologize that we have listed cryptocurrency casinos on our site. As of 3 April 2019, we have removed our Cryptocurrency Casino List and all cryptocurrency casinos featured in it from our site.

Why remove them?
Recently, it became law that European forex trading platforms (such as IG) had to present data on how many of their traders that lost money, as opposed to made money, at their platform when trading CFDs. On 12 February 2019, IG announced that 81% of all their retail investors lose money.

This figure is without a doubt way higher at online casinos. However, online casinos are not under any legal requirement to announce how many of their players lose money. A reasonable assumption, confirmed by inside industry information, is that at least 90% of the players at online casinos lose money.

We then asked ourselves – do we really want to send people to sites where they, with more than 90% likelihood, will lose money?

The answer was no.

Our ambition is to open the doors to the cryptocurrency world to everyone, to help out with exposing scams and ultimately to grow the cryptocommunity. Listing exchanges, wallets, debit cards and merchants achieves that ambition. Listing online casinos does not.

Why did we list them in the first place?
When starting a site from scratch, every dollar counts. For us, every dollar still does. In the desperation to make money that we could cover operating costs with, we searched high and low for profitable affiliate deals. Needless to say, there are plenty of them in the online casino industry. So, we concluded that we should list online casinos, so that we could make money from referring customers and use that money to pay operating costs.

With the information we now have at hand, we deeply regret that decision. And we apologize for making it.

A general observation
We’re not saying that all of our competing crypto sites that have online casino banners want to parasite on the cryptocommunity and its members. Honestly, we don’t. However, a general observation is that Coinmarketcap, CoinGecko and Blockonomi constantly feature online casino banner ads on their respective sites, whereas BitcoinExchangeGuide and CoinSutra does not.

In this context, we feel a much closer connection to BitcoinExchangeGuide and CoinSutra, in spite of them also both being our competitors.

Cryptowisser today
We want to be a company that focuses on being to the benefit of members of the cryptocommunity. Not a company that focuses on profiting from members of the cryptocommunity. Naturally, we hope that our focus in the end also becomes profitable for us. But never at the expense of us being true to our main mission.

Today, Cryptowisser.com runs the world’s largest cryptocurrency exchange list – listing close to 400 different exchanges with individual reviews for all of them. No other list in the world even comes close to those numbers or to being so comprehensive.

We also have three additional list categories: a cryptocurrency wallet list, a cryptocurrency merchant list and a cryptocurrency debit card list.

Happy to receive your feedback
Again, we apologize that we up until 3 April 2019 listed cryptocurrency casinos on our site. We have now removed them all. Moreover, we will also, following a short transition period, not sell any advertising spaces to cryptocurrency casinos either.

We would love to hear whether you think this is the right action or not. However, we will not, based on your feedback, change our decision. Nevertheless, we are always humble to hear the views of other members of the cryptocommunity.

Thank you all in advance.

I whole-heartedly support the decision to delete cryptocurrency casinos. Sure, they're part of the ecosystem, but they're just out to get people's money. Pedophiles are part of the world as well but we don't feel the need to include them when speaking about sexuality.

[DireWolfM14]

at least 90% of the players at online casinos lose money.

Is that any different from brick and mortar casinos?  I really don't know, just asking the question, but I would venture to guess the rates are about the same. 

[cryptowisser]

at least 90% of the players at online casinos lose money.

Is that any different from brick and mortar casinos?  I really don't know, just asking the question, but I would venture to guess the rates are about the same. 

Good question, but we would assume that the losing rates are roughly the same at physical and online casinos.

[Slow death]

online casinos are not under any legal...

and because online casinos are not regulated in a very transparent and reliable way, many people have money locked in online casinos and have no where to complain to get their funds back. there are many lack of respect on the part of the owners of the online casinos. I am convinced that to regulate online casinos governments will have many headaches

A reasonable assumption, confirmed by inside industry information, is that at least 90% of the players at online casinos lose money.

The question I have is:

- Why do people still play at online casinos?

[NeuroticFish]

at least 90% of the players at online casinos lose money

Playing at a casino is not an investment. It's a way to have fun and spend time.
I mean, yes, most of the players may indeed lose money. I've never heard of people complaining that they have "lost money" at the cinema. I hope that you can find the analogy.

One problem I see is that maybe you have been advertising that casinos are for 18+, gambling at casinos needs moderation and money the player affords to lose.
Another possible problem would have been that not all the casinos respect their customers and some are plain scammers. Reading players' opinions on them on a regular basis should be the key, but it takes time/effort.

However, it's your site, your business, your decision. I hope that my info helps in the case you'll add them back (in a more or less distant future).

[LeGaulois]

People joining online casinos are well aware of what they're joining. I understand that you were looking to monetize your site and promoted casinos since it usually has a high affiliate offer, removing such advertisement will only give you more credibility. I don't play casinos and I'm not bothered with casino ads banner, I would be id it was p*rn.

[cryptowisser]

at least 90% of the players at online casinos lose money

Playing at a casino is not an investment. It's a way to have fun and spend time.
I mean, yes, most of the players may indeed lose money. I've never heard of people complaining that they have "lost money" at the cinema. I hope that you can find the analogy.

One problem I see is that maybe you have been advertising that casinos are for 18+, gambling at casinos needs moderation and money the player affords to lose.
Another possible problem would have been that not all the casinos respect their customers and some are plain scammers. Reading players' opinions on them on a regular basis should be the key, but it takes time/effort.

However, it's your site, your business, your decision. I hope that my info helps in the case you'll add them back (in a more or less distant future).

We have also received information that Poker Listings, back in the poker haydays (2003-2006), paid USD 4,000 for ONE REFERRED PLAYER. That compensation was later lowered substantially (it was an erroneous pricing to begin with), but it does give you a sense of how much a faithful player is worth to the online casinos and - ultimately - how much such a player loses on average...

[cryptowisser]

People joining online casinos are well aware of what they're joining. I understand that you were looking to monetize your site and promoted casinos since it usually has a high affiliate offer, removing such advertisement will only give you more credibility. I don't play casinos and I'm not bothered with casino ads banner, I would be id it was p*rn.

Thank you for your well-considered comment! We will certainly stay away from the p*rn banners...

[buwaytress]

OP, I do respect your decision but there are some things to note here and it is probably not a clearcut case of principles if you analyse the decision properly.

As LeGaulois points out, people who gamble are generally well aware of what they're getting themselves into. I don't think any reasonable gambler is under any illusion that gambling could be in any way a guarantee of profit.

This is actually the opposite case with trading. Most people sign up and deposit money at an online broker with very unrealistic expectations. And the ads are misleading too, and there is very little that exchanges do to promote better understanding of facilities like loans and margin trading, which have caugt out many an amateur trader.

I don't think 91% of losing depositors at casinos are unexpected. But 80% of losing depositors at online brokers? Now that's probably a figure not many people are aware of.

I see courses teaching people to trade for a living, people are being misled to think they could easily learn to trade as a career.

[palle11]

The question I have is:

- Why do people still play at online casinos?

And my response to this is that, it is convenient.

Society have evolved with technologies too. People fit in too with making use of the technologies provided for. Just like people stay at the comfort of their homes to transact business, they also relax at home betting online.